Coinbase blocked users from sending 30 BTC to hacker's addresses in last week's Twitter attack

posted 4 months ago
Twitter was hit by the worst security incident in its history last week with dozens of high-profile accounts compromised. The Twitter attackers managed to defraud people of more than $100,000 worth of bitcoin but data from some the world's biggest bitcoin exchanges shows at least $300,000 worth of bitcoin was held back by exchanges.

As the attack spread on July 15, Bitcoin exchanges "blacklisted" the bitcoin addresses used by the fraudsters, preventing money being sent from their exchanges to scam. Coinbase said it prevented over 1,100 Coinbase customers from sending a total of 30.4 bitcoin, worth almost $280,000, to the scam. "The principle that we want to pay attention to is harm reduction without reducing the underlying utility of the asset," said Philip Martin, Coinbase chief information security officer, adding Coinbase finds broad support in trying to "avoid people having money stolen when it's in our power to prevent it."
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