Larry Cermak breaks down why the Twitter hackers are amateurish

Episode 28 of Season 2 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Larry Cermak, director of research at The Block.

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The Block spends a lot of time on Twitter, combing the signal from the noise and looking out for market-moving memes. Sometimes that pays off.

On Wednesday, our Director of Research Larry Cermak noticed a tweet from a well-known trading account, @AngeloBTC, alerting its followers that it was launching a paid group. Cermak thought that was strange, and suspected that the account had probably suffered a hack.

An hour later, Binance's Twitter account posted a tweet that left virtually no doubt it had been hacked. "We have partnered with CryptoForHealth and are giving back 5000 BTC to the community," the tweet said, adding a link that it said its followers could use to see more information.

At first, Cermak and the rest of the team thought it might be a coincidence. Perhaps Binance and AngeloBTC were just both having a bad day? But once Binance CEO Changpeng Zhao's tweeted the same exact message, The Block began connecting the dots.

It wasn't long before celebrity accounts including tech pundit Elon Musk and presidential candidate Joe Biden fell victim to the far-reaching hack. The accounts displayed similar messages, each expressing a desire to "give back&qu