In the Aftermath of Hack, Lawmakers Blame Twitter, Not Bitcoin

In the Aftermath of Hack, Lawmakers Blame Twitter, Not Bitcoin

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.

In 2019 Trump he is not a fan of bitcoin and that “unregulated crypto assets can facilitate unlawful behavior.” He also Treasury Secretary Steven Mnuchin to “go after Bitcoin.”

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.

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