Wednesday’s Twitter hack would seem to spell regulatory doom for Bitcoin, which is widely distrusted in Washington. Some lawmakers – and U.S. President Donald Trump himself – associate it with crime.
But immediately following the hack, lawmakers seemed more focused on Twitter’s security problems rather than cryptocurrency’s role in the hack.
On Wednesday, high-profile accounts belonging to Elon Musk, Kanye West, Barack Obama, Joe Biden, cryptocurrency exchanges and many others were co-opted into a scam that netted the hackers at least $100,000. Twitter struggled to resolve the issue, even temporarily blocking verified accounts’ abilities to tweet and reset their passwords. Security experts said the , and therefore is not a quick fix.
Lawmakers were quick to respond.