Crypto Critic Peter Schiff Targeted in $GOLD Coin Scam Twitter Hack

peter schiff Crypto Bitcoin

Peter Schiff, a prominent finance figure known for his negative views on cryptocurrencies, has been targeted in a Twitter hack

The attack involved promoting a potentially fraudulent $GOLD coin scam. The news was shared on Twitter by Schiff’s son, Spencer Schiff, who has a different perspective and is supportive of cryptocurrencies like Bitcoin.

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For a long time, Peter Schiff has been openly critical of cryptocurrencies, especially Bitcoin, considering them to be a fraudulent scheme without real worth. However, in a surprising twist, Schiff recently announced a joint effort to create and sell nonfungible token (NFT) art pieces, which will be auctioned using the Bitcoin network.

The reaction from the crypto community has been mixed, with different people feeling confused, amused, or even accepting of Peter Schiff’s sudden involvement in the crypto world. Supporters of alternative cryptocurrencies, in particular, have pointed out the irony in Schiff’s actions, considering his historical disdain for digital assets.

The reason why hackers targeted Peter Schiff’s Twitter account becomes more understandable when we consider his shift from being critical of cryptocurrencies to becoming a believer in them. This change in Schiff’s perspective may have made him an attractive target for hackers who wanted to take advantage of his newfound interest to promote a fake digital coin that doesn’t actually exist.

The fake coin called $GOLD does not exist or have any credible information available online as of now. It’s worth noting that Peter Schiff has been a strong supporter of investing in gold for a long time.

The hackers’ plan appears to rely on the irony of promoting a gold-related coin to someone like Peter Schiff, who strongly supports traditional gold investments. By using Schiff’s reputation as a gold advocate, the hackers aimed to gain trust and attract the attention of unsuspecting individuals who might believe the coin has Schiff’s endorsement.

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Regarding Peter Schiff’s son, there is no update on the incident, including the status of his father’s account and whether they have identified the individuals responsible for the attack.

Also Read This Related: Peter Schiff Surprises Crypto Community with Bitcoin NFT Announcement

On Target: Peter Schiff

As of now, Peter Schiff’s fake $GOLD coin tweet can still be seen on his profile.

https://twitter.com/PeterSchiff/status/1664823256182841345?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1664823256182841345%7Ctwgr%5E7887ea2484e127450cebfa2034c7142b2d50edc4%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fbitcoinist.com%2Fpeter-schiff-targeted-in-fake-gold-scam%2F

Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.

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