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.

Listen below, and subscribe to The Scoop on AppleSpotifyGoogle PlayStitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected].

This episode of The Scoop is brought to you by Bitstamp, the original global cryptocurrency exchange. Since 2011, Bitstamp has been a cornerstone of the industry, earning the trust of over four million individuals and top financial institutions looking for a reliable trading venue.

Whether you’re trading on our web platform, mobile app or industry-leading APIs, Bitstamp gives you the professional-grade tools you need to execute your strategy. Download the Bitstamp app or visit to learn more and start trading today!

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