The official Twitter account of Indian Prime Minister Narendra Modi obtained compromised earlier right this moment, which was then used to share deceptive details about the mainstream adoption of Bitcoin (BTC) and redistribution of 500 BTC among the many Indian residents. 

On Dec. 10, Modi stated in a digital occasion digital summit hosted by US President Joe Biden that applied sciences resembling cryptocurrencies should be used to empower democracy and never undermine it:

“By working collectively, democracies can meet the aspirations of our residents and rejoice the democratic spirit of humanity.”

Whereas the long-awaited Lok Sabha Winter Session, a parliamentary meetup meant to discuss the legality of cryptocurrencies in the region, didn’t conclude the federal government’s stance on crypto, hackers from unknown origins managed to take management of the prime minister’s account with over 73.4 million followers to declare Bitcoin as a authorized tender.

Whereas the hack occurred at midnight in India (round 4:00 pm ET), Twitter consumer Priya was among the many many crypto fans that took discover of the premature tweet that learn:

“India has formally adopted Bitcoin as authorized tender. The federal government has formally purchased 500 BTC and is distributing them to all residents of the nation. The longer term has come right this moment!”

The put up additionally included a hyperlink that urged unwary traders to enroll and declare their share of BTC. Nevertheless, this was the second time Modi’s Twitter account obtained hacked and was used for crypto scams.

Quickly after the hack, the unauthorized tweet was deleted and the hack was confirmed by the Prime Minister’s official account.

As Cointelegraph reported, hackers had been capable of breach Modi’s Twitter account again in Sept. 2020. Beneath the pseudo title ‘John Wick,’ the hackers shared a number of tweets asking the prime minister’s followers to “donate generously to PM National Relief Fund for Covid-19.”

Associated: India misinterpreted private crypto ban, says crypto bill creator

The launch of India’s crypto invoice sparked new considerations across the ban of personal cryptocurrencies. Whereas the which means of ‘personal’ was but to be interpreted within the parliamentary assembly, the lack of information sparked panic among investors.

Clearing out the speculations across the crypto invoice discussions, former Finance Secretary Subhash Garg, who was additionally the creator of the invoice, dismissed the notion of banning “personal cryptocurrencies” as a misinterpretation. In an interview with Information 18, Garg stated:

“[The description of the crypto bill] was maybe a mistake. It’s deceptive to say that non-public cryptocurrencies can be banned and to intimate the federal government about the identical.”