The recent Twitter hack gave everyone the chills. The accounts of prominent personalities became the fodder for a hacker who had relevant experience in the field of social engineering.
Bill Gates, Kanye West, Barrack Obama, President Elon Musk, and many more personalities had their accounts hacked. There were false claims of doubling the amounts of Bitcoins sent to a specific address.
Elon Musk's account said strangely
“I‘m feeling generous because of Covid-19. I’ll double any BTC payment sent to my BTC address for the next hour. Good luck, and stay safe out there!”
Bill Gates' account tweeted "Everyone is asking me to give back," The tweet continued "You send $1,000, I send you back $2,000."
The Twitter Hack Appeared to be an Inside Job
It appears that the hack was an inside job. A Twitter employee was compromised. Technology companies give critical access to their systems to a select number of individuals.
Sources say that some Twitter tools for the administration of such systems allow for changing user e-mail addresses. This scary scenario just played out on an epic scale of enormous proportions. These individuals are often highly skilled and are paid well for their jobs.
If Twitter systems had been running on blockchain technology, the situation would never have occurred. The reason for this is simple. There are no human interfaces to the data stored on the blockchain.
Blockchain Technology is Unhackable
Data stored in blocks is virtually unhackable. User account access using blockchain technology is always protected. It can occur with no need for people to have access to solve problems.
The principle behind this is based on the fact that distributed ledger systems use encrypted methods that are way ahead of those of centralized systems. Centralized access is not needed. One of the many flaws of centralized access is the need to keep updating security. The basic server-client model that existed in the seventies is the cause of the many problems we have today.
With the advent of web3 technologies such as blockchain, we no longer need to have centralized systems to which just about anyone can gain access. Centralized systems have become expensive to maintain and implement.
Anyone with the right expertise can break into any centralized system at any time. It is the hacker's ethos and code by which they live. They haven't been wrong yet.
Twitter's support took proactive steps to solve the problem.
Jack Dorsey, Twitter's CEO issued an apology.
If Twitter would running on the blockchain technology, things would have been different..