Bitrabo Editorial
On Twitter, hackers targeted Peter Schiff, a vocal critic of cryptocurrencies and well-known figure in the world of finance, to promote a questionable $GOLD coin scam. Schiff’s son and a crypto supporter, Spencer Schiff, tweeted about the hack and suggested that it occurred while his father was in London and not responding to his messages.
Peter Schiff’s Relationship with Cryptocurrencies
Schiff has long criticized cryptocurrencies, particularly Bitcoin, as nothing more than a Ponzi scheme without any value. However, last week, Schiff unveiled an art collection that will be auctioned on the Bitcoin network, causing a wide range of reactions from confusion to amusement. Some individuals noted the apparent hypocrisy in Schiff’s actions.
Exploiting Schiff’s Narrative for the Scam
The hackers may have targeted Schiff due to his transformation from a crypto-critic to a crypto-believer, seeking to exploit this newfound interest. The fraudulent $GOLD coin currently has no verifiable presence on the internet. Schiff has been an ardent advocate for gold, which the hackers may have leveraged to gain credibility and attention from unsuspecting individuals associating the coin with Schiff’s endorsement.
The status of Schiff’s account and whether the perpetrators have been identified remain unclear, according to Spencer Schiff.
Schiff’s Tweet on the $GOLD Coin Remains on His Profile
As of writing, Schiff’s original tweet about the $GOLD coin scam remains visible on his Twitter profile. The fake $GOLD coin scam alleges to empower the Web3 community and unite the worlds of physical and digital currency.
The featured image is from Dado Ruvić/Reuters, and BTCUSD is slightly above the $27K level on the weekly chart at TradingView.com.