Connect with us

Cryptocurrencies News

BREAKING – Crypto Hater Peter Schiff Targeted In Fake $GOLD Coin Scam On Twitter Hack

Peter Schiff, a well-known figure in the world of finance and a vocal critic of cryptocurrencies, has found himself at the center of a questionable incident on Twitter today. In a brazen attack, hackers targeted Schiff to promote what appears to be a fake $GOLD coin scam.

The news of this hack came to light when it was announced on Twitter by none other than his own son, Spencer Schiff who, in stark contrast to his father’s views, holds a positive stance on crypto, particularly on Bitcoin.

Peter Schiff: Complicated Relationship With Crypto

The elder Schiff has, for years, consistently criticized cryptocurrencies, particularly Bitcoin, dismissing them as nothing more than a Ponzi scheme lacking any intrinsic value. However, in a surprising turn of events, Schiff last week unveiled a collaborative nonfungible token (NFT) art collection that will soon be auctioned on the Bitcoin network.

The response from the crypto community has been varied, evoking a range of emotions from confusion to amusement and even acceptance, particularly among proponents of alternative cryptocurrencies. Some have taken the opportunity to highlight the apparent hypocrisy in Schiff’s actions, given his long-standing hate of digital assets.

Exploiting The Narrative?

The motive behind the hackers’ decision to target Peter Schiff’s Twitter account becomes clearer when considering the narrative of a once crypto-critic turned crypto-believer. This transformation in Schiff’s perspective might have made him an appealing target, as hackers sought to exploit this newfound interest in order to promote a non-existent digital coin.

The fraudulent coin in question, $GOLD, holds no verifiable presence on the internet at the time of writing. It’s important to highlight that Peter Schiff has long been an ardent advocate for investing in gold.

The hackers’ strategy seems to hinge on the irony of promoting a coin related to gold to someone who strongly supports the traditional precious metal. By leveraging Schiff’s reputation as a gold proponent, the perpetrators likely aimed to gain credibility and capture the attention of unsuspecting individuals who might associate the coin with Schiff’s endorsement.

As for the younger Schiff, he hasn’t made an update regarding the incident, including the status of his father’s account and whether or not they’ve identified the individuals behind the attack.

On Target: Peter Schiff

At the time of writing, Peter Schiff’s fake $GOLD coin tweet remains visible on his profile.

BTCUSD slightly above the $27K level on the weekly chart at

-Featured image from Dado Ruvić/Reuters

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending NEWS

Copyright © 2023 . Be in touch with the latest news from cryptocurrencies.