In a new twist to the ongoing crypto regulation row, hackers have reportedly used India’s Prime Minister Narendra Modi’s Twitter account as part of their scam. The fake tweet encouraged people to participate in the giveaway by sending Bitcoin or Ethereum on August 26th.
India’s Prime Minister Narendra Modi has asked people to be cautious about the use of cryptocurrency. Hacking group “The Shadow Brokers” exploited this and used India’s PM Twitter account to promote a fake giveaway of Bitcoin. Read more in detail here: is cryptocurrency legal.
It’s unthinkable that India’s Prime Minister would promote Bitcoin at a time when the country’s authorities are still figuring out how to cope with the crypto industry’s rising impact.
However, this is what occurred yesterday through the Prime Minister’s official Twitter account, when a hacker uploaded a tweet claiming that the flagship digital asset was now legal currency in the Asian nation and that the government had made investments in the sector.
The account of the Indian Prime Minister promotes a phony Bitcoin giveaway.
The attacker claimed in the short breach that the government had “formally purchased 500 BTC” and would “distribute them to all citizens of the nation.”
PM Narendra Modi’s Twitter account, @narendramodi, was momentarily hacked. The situation was taken to Twitter, where the account was instantly protected.
Any Tweet shared during the short time while the account was hacked must be disregarded.
December 11, 2021 — PMO India (@PMOIndia)
While the prime minister’s office has subsequently reclaimed the account, it is unclear if Modi’s over 70 million followers fell for the fraud.
It’s not the first time India’s prime minister’s Twitter account has been hacked and used to promote a phony Bitcoin giveaway scheme. You may remember that his account was one among the many that were hacked in last year’s major Twitter attack, which also included current US Vice President Joe Biden, former US President Barack Obama, and Tesla CEO Elon Musk.
It’s also worth noting that Bitcoin is not recognized as legal money in India. In reality, the government is presently pushing for a variety of rules to be imposed on the business in order to control it, as well as its own central bank digital currency.
The Prime Minister of India’s position on cryptocurrency
India’s prime minister, Narendra Modi, urged other international leaders to work on the regulation of emerging technologies like social media and cryptocurrency “so that they are utilized to enhance democracy, not to destroy it,” during a recent conference for democracy held by US President Joe Biden.
According to available statistics, there are over 20 million crypto investors in the Asian nation, with over $5 billion invested in the field.
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