A few hours ago, some top crypto Twitter accounts were hacked and the hacker used posts from these accounts to siphon funds into a particular Bitcoin wallet which has collected over one million usd. Some of the accounts hacked are Twitter accounts of Justin Sun( Tron ), Binance, Gemini, etc.
Some theorists said it might be the work of an ex-twitter developer or strictly an ‘inside’ job. Gemini crypto exchange notified the public that even though they had their 2fa on, their account was hacked. After Justin Tron regained control over his account, he posted a $1million bounty to catch the hacker.
Twitter later released an update notifying the public to change the account passwords that they are working on the hack.
It is No more News, But a striking lesson for an Upgraded security
Yes, most people on Cryptocurrency have heard about these happenings and it is no more news. But the beckoning question to Twitter for this experience is ‘Isn’t it time to begin to consider a decentralized option for the security of Twitter accounts?’ Twitter has been a great supporter of Cryptocurrencies and it is not hidden with the recent updates that automatically add logos of cryptos like Bitcoin (BTC), Binance Coin (BNB), Tron (TRX), and Crypto.com (CRO) when you hashtag them. There are a lot of decentralized options for 2fa security that have been available which cannot be hacked since that is the basic idea of blockchain technology.
DigiID and AntumnID from Digibyte Blockchain
DigiID and AntumnID built on the Digibyte blockchain have been instrumental in securing online account passwords by saving them on the blockchain. With DigiID you can log into an account with a fingerprint in a few seconds so far the website has incorporated the log in option. With AntumnID users can securely save their passwords in a decentralized manner and log in to their favourite websites in a few seconds without having to retype it over and over again.
Hydro 2fa
This is a two-factor Authenticator recognized by many in the crypto space and outside. It implements its authentication on the blockchain technology which is more secure than its centralized counterparts.
Why not go for full Decentralization?
Decentralized social platforms like Steemit and Hive have shown a great way for micro-blogging social media platforms like Twitter can help secure information and accounts of their users with the help of blockchain technology. The recent hack can cost Twitter millions of Dollars and worst still, the trust the world has in them. It might be a long shot but Twitter could consider moving its platform to the blockchain by using the existing ones or implementing a new one. It is not necessary for the platform to have its own cryptocurrency, being on the blockchain is different.
Going forward
What will Twitter implement for the recent hack- another unsafe centralized security?
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