Peter Schiff’s Twitter Account Compromised to Endorse Cryptocurrency Phishing Scheme

• Peter Schiff has established himself as a proponent of gold while being critical of cryptocurrencies.
• Users are strongly advised against interacting with the numerous replies to Schiff’s tweet.

Peter Schiff, known for his opposition to cryptocurrencies and his advocacy for gold, experienced a hack of his account, which was utilized to promote what appears to be a deceptive gold coin initiative. Spencer, Schiff’s son, alerted his father’s followers that the link in the tweet is “most certainly” compromised. Spencer holds a more positive perspective on cryptocurrency compared to his father.

The hacker, using Peter Schiff’s Twitter account, proclaimed the official launch of Gold, a cryptocurrency token aimed at enhancing the Web3 ecosystem and bridging the gap between fiat and digital currencies.

Not Converted Yet

The hacker also shared an earlier tweet from the same account that criticized the government’s choice to raise the debt ceiling, leading to inflation. Peter Schiff has established himself as a proponent of gold while being critical of cryptocurrencies.

Prior to the hack, Peter Schiff appeared to be open to the idea of Bitcoin. He had previously announced the Bitcoin Ordinals NFT collection, despite being a harsh critic.

The crypto community was taken by surprise by this incident. Nevertheless, Schiff continues to assert that bitcoin holds no value. In response to CZ’s tweet welcoming him to the bitcoin community, he stated, “I haven’t converted.”

The Ordinals enhance the value of the work by simplifying the demonstration of originality. Users are strongly advised against engaging with the numerous replies to Schiff’s tweet that are currently visible. According to Blockfence, any transactions initiated after clicking that link will deplete your wallet. The hacking of prominent Twitter accounts to facilitate crypto phishing schemes has been increasing recently.