Peter Schiff has made a name for himself as both a gold bull and a crypto skeptic.

Users are strongly discouraged from engaging with the several replies to Schiff’s tweet.

Peter Schiff, a vocal critic of cryptocurrencies and supporter of gold, had his account hacked and used to promote what looks to be a fraudulent gold coin scheme. Peter Schiff’s son, Spencer, warned his father’s followers that the URL in the Tweet is “most certainly” hacked. Spencer has a more optimistic view of cryptocurrency than Peter does.

Using Peter Schiff’s Twitter account, the hacker announced the formal release of Gold, a cryptocurrency token that would strengthen the Web3 community and unite the worlds of fiat and digital money.

Not Converted Yet

The hacker shared a previous tweet from the same account that expressed disapproval of the government’s decision to increase the debt ceiling and so cause inflation. Peter Schiff has made a name for himself as both a gold bull and a crypto skeptic.

Peter Schiff seems to be on board with the concept of Bitcoin long before the attack. The Bitcoin Ordinals NFT collection was announced by the severe critic.

The crypto-world was caught off guard by the action. Schiff, though, remains steadfast in his assertion that bitcoin is worthless. The economist responded to CZ’s tweet where he welcomed Peter to the bitcoin community by saying, “I haven’t converted.”

By making it simpler to demonstrate originality, the Ordinals contribute to the work’s worth. Users are strongly discouraged from engaging with the several replies to Schiff’s tweet, which are presently visible. According to Blockfence, making any transactions after clicking that link will empty your wallet. Hacking of prominent twitter accounts to promote crypto phishing is on the rise in recent times.

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Filed under: Bitcoin - @ June 3, 2023 10:09 am