Cryptocurrency News Today – Headlines for July 17

  • Bitcoin Google search queries spike
  • This spike may have been triggered by massive Bitcoin scam on Twitter
  • Hackers made away with $120,000 in Bitcoin

Cryptocurrency News Today – there is nothing like bad publicity as an old saying goes. This old phrase was applicable as the search queries for BTC spiked following reports of a massive Twitter scam. Recently, Twitter accounts owned by several politicians, celebrities, CEOs, among others were hacked. The compromised Twitter accounts were used to facilitate a scam that helped hackers steal over $120,000 in BTC.

Could the digital asset end up in a positive light despite being the center of a vastly publicized scam? The first cryptocurrency scam ever was central to every single tweet from each user account. These accounts ranged from popular musicians like Kanye West to politicians like Joe Biden. The digital asset began trending on Twitter soon after the news of the scam got out.

BTC’s Google Search Queries Rise

Bitcoin started trending on Twitter for the wrong reasons. Twitter moved quickly to lock down the affected accounts and removed the infringing tweets made by the bad actors. However, the cat was out of the bag already. Twitter users discussed how the hack happened and major media outlets covered the news. This is why it spread like wildfire. It is no secret that Twitter has been a hot button topic for political issues recently. This is why the fact Joe Biden’s account was hacked was notable.

Although Bitcoin was wrapped up innocently in the debacle, the news may benefit the digital asset. After the report went viral on social media forums search queries for Bitcoin surged based on Google Trends. The boost in total search volume reportedly coincided with the scam. The increase in searches possibly came because Bitcoin as a word was blasted to more than 300 million Twitter users collected through the big-name user accounts. The accounts of celebs, politicians, and other important individuals.

Scammers Not Yet Known

Most followers know what Bitcoin is, and might have searched to see what their favorite celebs were discussing. Similarly, cash cannot be blamed for the scam. Bitcoin shouldn’t be demonized considering the tactics used by hackers. In an ironic twist, Nigeria is the most dominant country with search queries for Bitcoin in Google Trends.

Nigeria has been associated with Internet fraudsters known as Yahoo-boys. These bad actors dupe people of their money. A closer look at how Yahoo-boys work shows that their scams are similar to the tactics used in the latest heist on Twitter by hackers. For example, a smaller sum of money is requested in exchange for bulk sum. This money doubling scam is a common scam among Nigerian scammers. The Twitter scam is one of many scams that investors must be wary of. To avoid being a victim of such scams, avoid money doubling promises and ponzi schemes.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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