This article will be a long read as it is about the biggest hacking syndicate of the century. We are all aware about the biggest hacking syndicate masterminded by some yet to be identified individual on Twitter few days ago. Accounts of prominent personalities and high profile organizations were compromised and used for Bitcoin scam.
Individuals like Elon Musk, Joe Biden, Kim Kardashian West, Jeff Bezos, Bill Gates, Barack Obama, Wiz Khalifa, Warren Buffett, YouTuber MrBeast, Wendy’s, and organizations like Uber, CashApp, Apple, Mike Bloomberg, and so on were compromised and posted Bitcoin Scam posts.
Crypto currencies exchange and Business platforms such as Bitcoin, coindesk, Ripple, Binance, and Coinbase were also compromised and used in the syndicate. With this short message "We have partnered with CryptoForHealth and are giving back 5000 BTC to the community." People fell head and foot for the scam.
It's painful to see people fall for this kind of scam, and very pitiful for those who fell for it. People are easily fooled this days, I mean you saw Bill Gates was tweeting for Bitcoin and you believe it. When has it started. The pandemic has really taken a lot of people sense of reasons away. It's funny and sad at the same time.
Now what next
Every social media platforms run on a centralized systems in which every information are stored on the central data base of such platforms. This takes away someone's privacy since your information is entirely store in the system central database. Our fate is depended on centralized platforms like Twitter, Facebook, Google Docs, Amazon, Netflix, eBay, and so on. What this means is that, if someone hack into the Central database of say eBay, they can easily link your credit card details and scam you.
This scam or hack shows us how porious and vulnerable centralized systems are. No matter what you do, using two factor authentication to secure your account and have your password secured, our security isn't quaratee either. If this happened to Twitters, what will you do if someone hack all of your centralized accounts.
There is need for more privacy with our data, and more authentic information online. We need a more sucured social media experiences. There is need for advanced security technology in social media platforms to prevent hackers from causing havock in the future.
The way forward
I think engaging a more secure technology for all social media platforms is the only way forward to curtail hackers activities online. In this case a decentralized technology in the right way to go. A blockchain technology will provide the privacy and security we need on the web.
Why blockchain
The definition as found on the web by hackernoon.com could well explain it better.
On the simplest terms, Blockchain can be described as a data structure that holds transactional records and while ensuring security, transparency, and decentralization. You can also think of it as a chain or records stored in the forms of blocks which are controlled by no single authority. A blockchain is a distributed ledger that is completely open to any and everyone on the network. Once an information is stored on a blockchain, it is extremely difficult to change it.
From the above definition it is clear that blockchain can not be hack by anyone. A simple explanation will do to establish this fact.
Can blockchain be Hack?
It will be so impossible to hack blockchain because of the technicality involved. Though am not a tech savvy, I can say there will be no way for an individual or group of individuals to hack a blockchain. My explanation is based on the fact that there are lots of computers around the world connected together in a blockchain. A particular computer can be hack, that's pretty possible. But when you are talking about hundreds or thousands of computers around the world at the same time, I think it can't be possibly done by anyone. The only way to possibly hack this kind of system is if you own up to 60% computer of a particular blockchain which I think no one can't.
Rightly, a lot of us can say how about crypto currency missing in a wallet and all the exchange security breach. Now this is it, every crypto wallet have a private key which must not be shared with anyone else apart from the holder of the wallet. If someone got access to your key it has nothing to do with the block chain but your negligence.
That's why we are always reminded to keep our wallet key away from a third party and from untrusted crypto related activities. If someone sees your wallet private key and log in to your account anywhere and you are hacked you did it to yourself.
What we happen with decentralized social media.
You set rules for your content and nobody can break it.
Your data or information belong to you and you can choose to remove it from the system anytime you want to.
You have freedom of
expressions.
The security future of social media platforms is most assured on a block chain.
I don't know o, we'll just wait and see