Top Twitter profiles have been hacked

Daily Analysis - 16/07/2020

Hackers asked for bitcoins from Twitter followers

twitter-accounts-hacked


On Wednesday Twitter shares fell more than 3% in extended trading after numerous important Twitter accounts were hacked. Those accounts include Amazon CEO Jeff Bezos, Apple, Microsoft founder Bill Gates, Joe Biden the Democratic presidential candidate, and former President Barack Obama. The hackers seem to have sent tweets that were directing followers to transfer bitcoin to a particular address.

Elon Musk, the Tesla CEO was the first account to be hacked. A tweet early yesterday afternoon was promising to increase any amounts sent to the bitcoin address.

Twitter started yesterday an investigation which revealed a project that focused on Twitter agents in order for the hackers to enter into the company's private systems. According to CNBC, Twitter posted from a support account the following. “We detected what we believe to be a coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools”. Jack Dorsey Twitter's CEO stated

“We know they used this access to take control of many highly-visible, including verified accounts and Tweets on their behalf.” Additional accounts that have been hacked include Mike Bloomberg, former New York City Mayor, Warren Buffett, reality TV star Kim Kardashian, Uber’s corporate account, and more.

ECB expected to support confidence


Christine Lagarde and the European Central Bank needs to address many important matters this week during their meeting as they hold back any further monetary stimulus plans. However, they will probably try not to press any confidence for fast recovery in order to maintain the positive momentum. ECB is expected to maintain its previous position following last month’s expansion and increase of its Pandemic Emergency Purchase Program, which rose by 600 billion euros to 1.35 trillion euros.

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The dollar found support yesterday


The popular greenback gained momentum yesterday as boiling U.S China pressures and soft Chinese data beat investors’ confidence in a light global economic improvement from the coronavirus pandemic. China’s 3.2% economic increase last quarter comfortably surpassed market expectations for 2.5%. However, rising U.S. virus cases dampened the positive viewpoint and pressed on equity markets while focus turns to Europe and the region’s restoration projects.

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Gold remained steady


Gold prices continued constant, close to a nine-year peak today while anxieties over mounting coronavirus cases and boiling U.S.-China stresses balanced somehow from Chinese economic data.

Spot gold edged 0.1% lower at $1,808.97 per ounce though exchanged in a very narrow area of approximately $5.

The above content is considered to be market commentary information and shall not be perceived as independent investment research or investment advice.

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