Op-Ed

What Does Jack Dorsey’s Twitter Account Hack Mean For Bitcoin?

Emilio Janus | Aug 31, 2019 | 08:00

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Twitter and Square CEO, Jack Dorsey, had his personal Twitter account hacked this week. Whilst in control of the account, the hackers posted a bizarre stream of messages including racial slurs and a bomb threat. Dorsey has been very vocal in his support for Bitcoin, so what impact could this have?

What Does A Twitter Hack Have To Do With Bitcoin?

Nothing, right?… or at least, perhaps there is no direct link. But it does provide us with a timely reminder about security.

The media made a big thing about Dorsey getting hacked on his own platform. “If the CEO of Twitter can have his account hacked, then what chance do the rest of us have?” came the overarching response.

Of course, the media completely missed the point. Why shouldn’t Dorsey be hacked on his own platform? Why should his account be any different to anybody else’s? Does Jack’s account have additional security measures, and if so, why don’t all the other accounts?

In fact, as the CEO of Twitter, one would imagine that he is targeted more than most. So shouldn’t he be more likely to be hacked than other users?

The Weakest Link (In Any Security System)

The point here is that Dorsey is just a human being like all the rest of us. As great as any security measures are, we are always the weak link in the chain. This applies to Twitter or BTC or anything else.

Ultimately, the responsibility lies with us, and we are, unfortunately, fallible. Imperfect memories compel us to write things down, or worse, store them electronically. We forget to lock screens and lose things on trains. When it comes to security we contain any number of attack vectors and need all the help we can get.

In order to feel secure, we should take all the steps that we can to protect our Bitcoin (our Twitter accounts generally aren’t as valuable). This means employing such means as two-factor authentication, and for the love of God, stop storing your BTC on exchanges already!

ATTENTION: If the CEO of Twitter can get his account hacked on his own platform, I promise your bitcoin is likely MUCH more vulnerable.

Use two-factor authentication where ever possible.

Get your bitcoin off exchanges.

— Rhythm (@Rhythmtrader) August 30, 2019

What does Jack Dorsey’s Twitter account hack mean for Bitcoin? It means that nobody is immune to security risks, so buckle up.