McAfee Claims Twitter Hack: “Coin of the Day” Rattles Altcoin Markets
December 30, 2017 9:00 by Akshay Makadiya
John McAfee, vocal crypto supporter and influencer, halted his controversial pump and dump “Coin of the day” scheme that plagued the crypto market and suggested his Twitter account was hacked following after some extra ‘recommendations.’ McAfee, creator of the famous antivirus software by the same name, will recommend coins on a weekly basis, hence, changing from “Coin of the day” to “Coin of the Week” following continuous backlash from crypto proponents.
McAfee tweeted “Due to heavy pressure from crypto adherents, exchanges, developers and every other corner of the earth (and God himself chastised me in my dreams last night), the “Coin of the day” will become “Coin of the week” starting immediately. You can look for it every Monday morning.”
Therefore, crypto investors will have to wait until January 1, 2018, for the next coin selection.
The famous face received several complaints from concerned crypto enthusiasts to stop manipulating the market. The practice motivated several critics to point out how big players can manipulate the nascent industry.
Start of “Coin of the Day”
On December 20, 2017, the controversial influencer said he shall announce one coin every day, that is capable of changing the world. During his six-day long “Coin of the day” journey, the chosen cryptocurrencies were Electroneum, Burst, Digibyte, Reddcoin, Humaniq, and Tron respectively. Most of the recommendations were of unheard cryptocurrencies that have not enjoyed much limelight.
Cita:Beginning tomorrow, I will each day talk about a unique altcoin. Most of the 2,000 coins are trash or scams. I've read every white paper. The few I'm connected to I will tell you. The rest I have no position in. These coins will change the world. You can supportMcAfee’s tweets immediately skyrocketed the price of altcoins he mentioned. The crypto promoter generally suggests underpriced and unknown digital assets. Many criticize him for using the price hike for personal gain, although nothing has been proven.
that change
— John McAfee (@officialmcafee) December 20, 2017
McAfee Turns to PumpAfee
Several crypto newbies used the tweets as the signal in order to make a quick buck. One YouTuber even made it clear he would use McAfee’s tweets as a strategy to buy new coins. The daily suggestions work as ‘wealth creation’ tool for many crypto traders. Based on trading volume during his tweets, exchange markets have witnessed many hopping onto his tips.
However, no matter the celebrity status or the adoration that a figure receives from the community, everyone has their own view and perspective of the world, and we should never take trades based on someone else’s paradigm view. Moreover, we never know anyone’s hidden intentions or what they truly think, so to take these recommendations and trade based on them alone is perhaps the worst strategy you could adopt.
Several long-term investors have condemned the pump and dump recommendations as it makes it difficult to estimate the true value of the tokens once McAfee advocates it. In the crypto world, many have labeled him as “PumpAfee.”
McAfee has drawn massive attention on his Twitter profile with the “Coin of the Day” stunt. Additionally, the entrepreneur has also made some brazen statements regarding Bitcoin. Witnessing the rise in token prices, programmers have developed bots that read the name of the coin suggested and immediately purchases it on exchanges.
Recognizing the issue, McAfee posted an image of the “Coin of the day,” to sabotage bots that pick his tweets and automates purchases. Although the approach made it more difficult for bots to automate the buying process, several OCR scripts are available online that read text on image files.
Hence, making it unfair for individuals to compete for these automated tools. Whatever the case, McAfee’s recommendations have added a new exciting twist to the trading market and his influence is quite evident in the crypto trading industry.
McAfee Twitter Account Hacked
On December 27, McAfee’s Twitter account was reportedly hacked, pushing out five “Coin of the day” recommendations, which did not seem to be his style. The unusual and disorderly tweets started pumping Siacoin. Minutes later, this was followed by NXT, PTOY, BAT, and XRP.
His followers suspected the account to be compromised or fulfilling his promise to destroy the exchange bots that worked on the Twitter recommendations. Although all five crypto tokens witnessed an immediate price hike, the price quickly dipped. The price surge indicated that the bots still were active to purchase based on his recommendations.
Minutes later, a genuine tweet from McAfee read:
Cita:“Urgent: My account was hacked. Twitter has been notified. The coin of the day tweet was not me. As you all know…I am not doing a coin of the day anymore!!!”
Many questioned his skill as a computer security expert but in response he stated “Though I am a security expert, I have no control over Twitter’s security. I have haters. I am a target. People make fake accounts, fake screenshots, fake claims. I am a target for hackers who lost money and blame me. Please take responsibility for yourselves. Adults only please.”
Given the drama, it points how the cryptocurrency industry is still maturing and easy to manipulate.
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McAfee se transforma en PumpAfee
Varios cripto novatos usaron los tweets como señal para ganar dinero rápidamente. Un YouTuber incluso dejó en claro que usaría los tweets de McAfee como estrategia para comprar nuevas monedas. Las sugerencias diarias funcionan como una herramienta de "creación de riqueza" para muchos operadores de cifrado. Según el volumen de operaciones durante sus tweets, los mercados cambiarios han sido testigos de muchos saltos en sus consejos.
Sin embargo, no importa el estatus de celebridad o la adoración que una figura recibe de la comunidad, todos tienen su propia visión y perspectiva del mundo, y nunca deberíamos tomar operaciones basadas en el punto de vista de otra persona . Además, nunca conocemos las intenciones ocultas de nadie o lo que realmente piensan, por lo tanto, tomar estas recomendaciones y comerciar solo en base a ellas es quizás la peor estrategia que podría adoptar.
Varios inversores a largo plazo han condenado las recomendaciones de la bomba y el volcado, ya que hace que sea difícil estimar el verdadero valor de los tokens una vez que McAfee lo defiende. En el mundo criptográfico, muchos lo han etiquetado como "PumpAfee".
McAfee ha atraído una atención masiva en su perfil de Twitter con el truco "Coin of the Day". Además, el empresario también hizo algunas afirmaciones descaradas con respecto a Bitcoin . Al ser testigos del aumento en los precios simbólicos, los programadores han desarrollado bots que leen el nombre de la moneda sugerida y la adquieren de inmediato en los intercambios.
Al reconocer el problema, McAfee publicó una imagen de la "Moneda del día" para sabotear los bots que eligen sus tweets y automatiza las compras. Aunque el enfoque hizo que a los bots les resultara más difícil automatizar el proceso de compra, varios scripts de OCR están disponibles en línea que leen texto en archivos de imágenes.
Por lo tanto, es injusto que las personas compitan por estas herramientas automatizadas. En cualquier caso, las recomendaciones de McAfee han agregado un giro nuevo y emocionante al mercado comercial y su influencia es bastante evidente en la industria del comercio de cifrado.
Cuenta de Twitter de McAfee pirateada
El 27 de diciembre, la cuenta de Twitter de McAfee fue supuestamente pirateada, sacando cinco recomendaciones de "Moneda del día", que no parecían ser su estilo. Los tweets inusuales y desordenados comenzaron a bombear Siacoin. Minutos después, esto fue seguido por NXT, PTOY, BAT y XRP.
Sus seguidores sospechaban que la cuenta estaba comprometida o cumpliendo su promesa de destruir los bots de intercambio que funcionaban en las recomendaciones de Twitter. Aunque los cinco tokens crypto presenciaron un aumento inmediato de precios, el precio bajó rápidamente. La subida del precio indicó que los bots todavía estaban activos para comprar según sus recomendaciones.
Minutos después, un tweet genuino de McAfee decía:
Cita:"Urgente: mi cuenta fue pirateada. Twitter ha sido notificado. La moneda del día tweet no era yo. Como todos sabéis ... ¡ya no estoy haciendo una moneda del día! "
Muchos cuestionaron su habilidad como experto en seguridad informática, pero en respuesta afirmó: "Aunque soy un experto en seguridad, no tengo control sobre la seguridad de Twitter. Tengo enemigos. Soy un objetivo La gente hace cuentas falsas, capturas de pantalla falsas, reclamos falsos. Soy un objetivo para hackers que perdieron dinero y me culpan. Por favor asuman la responsabilidad por ustedes mismos. Solo por adultos ".
Dado el drama, señala cómo la industria de criptomonedas aún está madurando y es fácil de manipular.