How A Fake Tweet From Indian PM Modi’s Account Impacted Price Of Bitcoin

How A Fake Tweet From Indian PM Modi’s Account Impacted Price Of Bitcoin

The Twitter account of India’s Prime Minister Narendra Modi was hacked on a night between December 11 and December 12, and a tweet about Bitcoin was shared.

The tweet stated the following: “India has officially adopted bitcoin as legal tender. The government has officially bought 500 BTC and is distributing them to all residents of the country”. Twitter quickly fixed the issue, and India regained control of the account.

While such hacks get a lot of publicity, they do not always have a material impact on crypto prices. It’s an important case for those traders who are willing to trade such news (which will inevitably appear in the future since hackers are always active and succeed from time to time) as the recent hack provides an opportunity to evaluate the response of Bitcoin’s price.