Baby Twitter Coin is Not From Twitter

 Baby Coin Mania Fuels Surge in Crypto Fraud

Warning New Baby Twitter Coin is not from Twitter. 

New BEP20 tokens are popping up daily flooding the market with fake coins being created out of thin air in many cases. Many coins are copying other coins and projects. Buyer beware.

I caught this fake Baby Twitter Coin operator last week attempting to offer the non official Twitter named baby coin.

After a few days offline the fake Baby Twitter Coin website is back up. The Twitter profiles are inactive but open. 

Opening a new website and Twitter account the unofficial Twitter baby coin operators were quick to attempt to tweet an offering pictured below.

I informed Twitter and responded to the tweet and quickly got blocked. What a surprise. A block is meaningless to a cybersecurity professional because there are always ways to get information legally. 

Original operators Twitter profile, changed several times.

Blocked after informing Twitter and questioning the coin operators.

These operators look to be out of Germany with initial registrations and are on the run changing details trying to sell this fake offer.

There is a great follow feature on Twitter the operators don't know about. Even if you are blocked the profile still shows up with all of your changes.

Example shown below of the alleged Baby Twitter Coin operator.

Always do your research and know who is backing your coin or project. This Baby Twitter Coin is not from Twitter. Always go to official Twitter sites for information on Twitter projects.

This unofficial Twitter baby coin even pitched a charity component. Selling a fake coin and giving some to charity doesn't legitimize the fake offer. 

Elon Musk has fueled the baby coin mania and there is no end in sight. The Securities and Exchange Commission is due to give an official stance on crypto by the end of July. As always be careful what you buy and click on. This is not an official Twitter sponsored coin. 

Fake Twitter tokens are being offered on other non official Twitter knock offs like Twitter-Finance[.]com which is also not from Twitter.

The Cyber Show

Dominic Alvieri

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Twitter @AlvieriD

Do Smart Contracts Make You Feel Dumb?

 

Stablecoins May Not Be Very Stable.

What is a Coin? What is a Token?

By Dominic Alvieri, @AlvieriD
July 7th, 2021 

The Crypto Craze.

The proposed STABLE Act will require stablecoin issuers to have a banking charter and report holdings.

The STABLE Act may be coming soon. Additional reporting and disclosure of assets securitizing stablecoins is a move in the right direction for security sake.

You probably have heard Bitcoin is an investment or a store of value .

You may have also heard most ransomware is paid in Bitcoins.

Do you know the difference between a coin and a token?

Do you know about different blockchains?

Do you know what fungible means?

What or who is backing your stablecoins?

Bitcoin, Ethereum, Ripple and stablecoins are not all created equal. Bitcoin is a digital currency to invest, hold or purchase in exchange for goods or services much the way a dollar in the local store would. Your one dollar or Bitcoin is fungible or able to replace or is interchangeable or equal to the next one. What or who is behind and backing your stablecoin?

Do you know the difference between BTC and ETH?

What is a coin and what is a token?

Do you know the difference between a coin and a token? A coin is referred to as a cryptocurrency and can be held as an investment or used  like Bitcoin in exchange for an item, good or service.

A token is issued as a smart contract on the Ethereum blockchain and there are three main types of tokens. A token may currently be a utility, commodity or security based token. In brief a utility token generally is used between a site for a use. A commodity based token is backed by a certain asset or commodity such as gold. A security token implies ownership in that company or decentralized unit. 

Cryptocurrency and tokens have different values. Ethereum has gas to defend infinite loops.

Keccak that. Is that still used? What is that?

Obtain full details before investing in any cryptocurrency, token or other investment in general.

Smart contracts make you feel dumb?

ERC-20 and ERC-721 basics.

In short smart contracts use blockchain technologies and software to execute the exchange of an asset or property between a buyer and a seller written directly into the code of the contract on the Ethereum framework are called ERC 20s. Rather than running a separate blockchain, ERC 20 is the main technological standard and set of rules that apply to issuing smart contracts via the Ethereum blockchain. There are six basic rules and are in place for uniformity among contracts. Several digital currencies including Augur and Maker use the ERC 20 standard.

An ERC 721 is a non-fungible token. There is more to.

There are many different stablecoin issuers.

A word of caution.

A word of caution going forward. Government central banks will be issuing Central Bank Digital Currencies, or CBDCs. A stablecoin is not a CBDC.

 A CBDC is not backed by any Bitcoin, Ethereum or any other digital cryptocurrency. 

It will be issued by a government.

Tether backed stablecoin assets have been questioned before.

 A stablecoin is not backed by either a CBDC, BTC, ETH, etc. Check with your actual investment prospecuts or white paper.  With Tether and other stablecoins you are trusting in a company to maintain its peg rate and assets securitizing the underlying stablecoin. 

The STABLE Act will require stablecoin issuers to acquire a banking charter or license and file reports showing detailed investment holdings backing stablecoin investments.  

Buyer beware, the security is on you as well.

The crypto craze continues.

Be careful with valuations and security. Do use cold storage and secure 2FA for your accounts. 

The main difference between 2FA and MFA is more factors. 2FA implying two factors and MFA more than two. The more the merrier with security.

Separating MFA between devices will give you an added layer of security. If one of your security factors gets bypassed, your phone ported for example, you will still be able to maintain that second layer of defense to restrict access to that account. 

Having your tokenized security app, email second factor or even SMS alert on another private secure line is a great added layer of security. Secure your accounts with tokenized 2FA at a minimum. 

Blockchain, cryptocurrency, stablecoin or token, Each are different

There are different types of blockchains, public, private and permissioned. 

There are different types of cryptocurrencies.

There are different types of stablecoins.

There are different types of tokens.

Know the difference between Bitcoin, Ethereum and Libra before you invest. Be careful with misinformation when it comes to crypto and investing in general.

 Get verified information.

The Cyber Show by Dominic Alvieri, @AlvieriD

The Cybersecurity Show by Dominic Alvieri

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    @AlvieriD