Narendra Modi’s tweet about adopting Bitcoin as a currency is bogus


Indian Prime Minister Narendra Modi presents his national statement on the second day of COP26.

Indian Prime Minister Narendra Modi presents his national statement on the second day of COP26.
Photo: Alastair grant – Swimming pool (Getty Images)

Early on Sunday, a tweet emerged from Indian Prime Minister Narendra Modi’s account announcing, out of the blue, that the country had adopted bitcoin as legal tender and would distribute 500 coins, or $ 24 million to current market prices, to citizens. Excuse me for spoiling your parade cryptocurrency stans, but the message was wrong.

Modi’s account, @Narendra Modi, was briefly hacked on Sunday to promote bitcoin and, presumably, to steal data or scam a lot of people. The tweet included a link to what looks like a (insanely sketchy) Blogspot website on the ‘Bitcoin giveaway’, and it encouraged people to hurry up and get their money back (so many warning bells). However, Modi and his team managed to regain access to his Twitter account on Sunday and deleted the hacker’s post.

Indian prime minister’s office says account was “briefly compromised” in a tweet on Sunday. The problem was then escalated to Twitter and the account was immediately secured.

“During the brief period that the account has been compromised, any tweet shared should be ignored,” Modi’s office added.

Twitter told Gizmodo on Sunday that there was no sign that any other accounts were affected.

“We have 24/7 lines of communication with the Prime Minister’s office and our teams have taken the necessary steps to secure the compromised account as soon as we became aware of this activity,” said a spokesperson. word of Twitter. “Our investigation revealed that there are no signs of other affected accounts at this time.”

Social media platform added that from his investigation to date, it seems like Modi’s the account was not hacked due to any violation of Twitter’s systems. This too provided a link Twitter best practices for ensuring account security.

Even though the tweet was from Modi’s account, it made no ppolitical sense given India’s strong stance on cryptocurrency. Modi himself said in late November that all democratic nations must work together on cryptocurrency at “Make sure that it does not fall into the wrong hands, which can spoil our youth”, according to CNBC.

Back in March, a report indicated that the country was considering criminalizing the mining, trading and holding of cryptocurrencies. Investors in India are currently while waiting to know more details on the country’s next bill on cryptographycurrency, which has not yet been introduced into its Parliament.


About Rodney Fletcher

Check Also

Biggest U.S. rate hike in nearly 30 years

This is an audio transcription of the FT press briefing podcast episode: Biggest U.S. rate …