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Wednesday night’s Twitter hack was not a good look for Bitcoin.

Hackers took over accounts belonging to such well-known figures as Elon Musk, Bill Gates and Barack Obama in an apparent effort to earn income by scamming people out of Bitcoin, a form of digital currency. Thescam itself was fairly common, but the fact that hackers were able to use prominent figures’ official accounts to perpetrate the attack is unusual and may have made unsuspecting people more likely to fall victim to it.

While it was the currency used to quickly cash in on the hack,Bitcoin is not really to blame for Wednesday night’s attack. But there are some characteristics of Bitcoin that may make carrying out — and getting away with — such a scam easier than if it had been done by other means. Regulators have previously expressed concern about Bitcoin over its history of use by fraudsters.

Still, experts in the cryptocurrency industry say they think Wednesday’s hack is unlikely to significantly undermine trust in, or adoption of, Bitcoin or other digital currencies.

“It’s certainly not the type of publicity that we want for Bitcoin or any other cryptocurrency,” said Kristin Smith, executive director of industry trade group Blockchain Association. “But it’s really important to realize that this was a hack and the crime is the hack, it’s not the fact that Bitcoin was the desirable prize of this attack.”

‘Giveaway Scam’

Experts say the effects of the attack were likely mitigated by the fact that this was not a new type of scam. Followers of Elon Musk and other major figures may be used to seeing such offers tweeted out in the replies to those celebrities’ tweets.

It’s known as a “Giveaway Scam,” in which hackers encourage people to send Bitcoin to a digital wallet, and promise to send back double the money in return. It’s often done under the guise of wanting to give back to a community or followers, as was the case in Wednesday’s hack. But, instead, the scammer makes off with the money.

Typically, scammers carry out such attacks by, for example, making a Twitter account almost identical to a famous person’s profile — same profile picture, same name and hard-to-detect tweaks to the handle — and responding to one of that famous person’s tweets with the offer, making it look like it was the famous person saying it.

“People see this happen underneath Elon Musk’s Twitter account all the time,” Neeraj Agrawal, director of communications at Coin Center, told CNN Business. “People have already been introduced to this concept of the giveaway scams.”

In Wednesday’s case, though, the offers were coming straight from the (hacked) verified accounts of celebrities.

Challenges of a decentralized system

One aspect of Bitcoin usually lauded as a benefit by adopters is the fact that it’s not controlled by a centralized authority, such as a bank. That means it’s not tied to any government (which could, for example, enact policies that devalue a currency) and users don’t have to trust any one organization to protect their money.

But in the case of Wednesday’s attack, it also means that people who were scammed don’t have anyone to go to for help getting their money back, the way one could go to their bank and ask it to reverse a fraudulent transaction. If a person sent $1,000 in bitcoin to a digital wallet hoping Elon Musk would send them back $2,000, they’re probably out of luck.

“With Bitcoin, you have to understand what you’re using,” Agrawal said. “It’s much more akin to a (physical) dollar bill. If you hand it to someone, it is gone. There’s an increased sense of responsibility you have to have if you’re using it.”

However, there are some protections for Bitcoin owners, including using well-known, regulated exchanges.

Exchange companies Coinbase and Gemini — which were among the first to have their Twitter accounts used in the hack Wednesday — said they quickly put the hackers’ digital wallet addresses on a blocklist when they became aware of the scam, so users wouldn’t be able to send money to those accounts.

“Gemini identified the fraud immediately and added the fraudsters’ addresses to our blocklist in order to prevent our customers from falling victim to this scam,” Gemini said in a statement. “Scams like this are not unique to cryptocurrency, and unfortunately criminals will continue to conduct these scams, whether aimed at stealing traditional money or cryptocurrency.”

Because of the nature of Bitcoin, it could also be hard to determine who was behind the attack even though it’s easy to watch where the money went. Bitcoin wallets each have their own unique code but aren’t always attached to an actual person’s name. It’s not impossible, though (Robert Mueller did it) — bitcoin transactions are recorded on a public ledger that anyone can see, and clues can be found concerningwhere money from those transactions crosses over into the traditional financial system.

What will this mean?

Industry experts say they don’t expect Wednesday’s hack will lead to a regulatory crackdown on Bitcoin.

“Regulators will look at this and see that there is nothing different that could be addressed through policy than what they’ve been doing,” Agrawal said.

And some industry players say the hack actually points to a fundamental issue with Twitter and other centralized systems, and makes an argument for decentralized systems like Bitcoin.

“We don’t know how this hack happened, but when you have a centralized system where there’s a point of contact that the bad guys can point to and try to get into and penetrate, that’s very vulnerable,” Smith, of the Blockchain Association, said.

On your iPhone, iPad, or iPod touch, the Photos app is organized into Photos, For You, Albums, and Search. The all-new Photos tab makes it easy to find, relive, and share your photos and videos by Years, Months, and Days.
When you turn on iCloud Photos, your collection is kept up to date across your devices, so navigating your library always feels familiar. And thanks to the advanced search features in Photos, you can find pictures based on a person, place, object, or event.

First things first

  • Update your iPhone, iPad, or iPod touch to the latest version of iOS, and your Mac to the latest version of macOS.
  • Set up iCloud on all of your devices and make sure that you’re signed in with the same Apple ID.

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Photos

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Enjoy a curated view of your best moments in the Photos tab and browse by Years, Months, Days, or All Photos for your complete library. See Live Photos and videos come to life as you scroll and browse.

  • Years: View your entire library of all the photos and videos that you've taken each year. Swipe to scan some of the highlights.
  • Months: See groups of photos and videos taken during each month by memories and locations. Tap to share or play a movie created from your favorite moments.
  • Days: Browse your best photos of the day and watch some of your videos automatically play as you scroll. Tap a photo and swipe up to see its location on a map, and the people in it.
  • All Photos: See your complete photo library including screenshots and duplicate photos in the order they were taken.

Live Photos and videos won't autoplay in Photos when Low Power Mode is enabled.

For You

In the For You section of Photos for iOS, you can see Shared Album activity, get ideas for adding effects to select photos, and find Sharing Suggestions — collections of photos perfect for sharing with friends.

For You also helps you relive your favorite moments with Memories. Photos searches your photos and videos to find events, trips, people, and more, then presents them in beautiful collections. That way you can rediscover a weekend hike or big events like a first birthday.

On your Mac, you can find Memories in the Photos sidebar.

Albums

In Albums, you find the photo albums that you’ve created, Shared Albums that you've created or joined, and automatic collections of different types of photos and videos, like Panoramas, Selfies, Slo-mo, and Time Lapse. You can even look at your photos arranged on a world map in the Places album, or browse your photos based on who’s in them in the People album.

On your iPhone, iPad, or iPod touch, the All Photos album shows your entire collection in the order you added them to your library. To get a similar view on your Mac, click Photos in the sidebar, then select the Photos tab at the top of the window.

Photos makes it easy to keep your collection organized just the way you want. And when you use iCloud Photos, the changes you make to your albums on one device appear on your other devices too.

Create a new album

On your iPhone, iPad, or iPod touch: Go to Albums and tap the Add button . Enter an album name, then choose the photos and videos that you want to organize in the new album.

On your Mac: Choose File > New Album. Enter an album name, then click Photos in the sidebar. Drag photos and videos from the Photos view into the new album in the sidebar. Alternatively, you can select the photos that you’d like to add to an album, control-click, then choose Add to > New Album.

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Photos on your Mac also lets you create Smart Albums that automatically update based on criteria that you choose. For example, you can create a Smart Album filled with photos taken in the last 30 days. Choose File > New Smart Album, enter an album name, and then choose the conditions that you want to use.

Add to an existing album

On your iPhone, iPad, or iPod touch: Tap Select and then tap the photos and videos that you want to add. Tap Add To and choose the album.

On your Mac: Drag photos and videos from the Photos view into the new album in the sidebar. Or select the photos you’d like to add to an album, control-click, then choose Add to > [Album Name].

Manage your albums

For

If you want to change the name of an album that you've created, go to Albums, then tap See All. Tap Edit, tap the name of the album, and then change the album name. On your Mac, select the album, then type a new name.

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To rearrange albums on your iPhone, iPad, or iPod touch, tap Albums, then tap See All next to My Albums. Tap Edit. Then tap and hold an album and drag it where you want it to go. Tap Done when you're finished.

To rearrange albums on your Mac, click My Albums, then drag an album where you want it to go. You can also Control-click My Albums, then choose Sort and choose to sort your albums alphabetically or by date.

Shared Albums

Looking for a place to gather and share everyone's photos from the family reunion? Shared Albums let you do just that.

When you have a photo, video, or album that you want to share, tap or click the Share button and choose Shared Albums. You can invite up to 100 of your friends and family to see your Shared Albums. Then they can like, comment, and even add their own photos.

In the Albums view, you can see all of the Shared Albums that you've created and others' Shared Albums that you've joined. On your Mac, Shared Albums appear in the Photos sidebar. You can also go to the For You tab (or the sidebar on your Mac) to view recent Shared Album activity. You'll see likes and comments on your shared photos, and new photos from other people's Shared Albums.

Search your photos

The Photos app makes it easy to find photos of a person or thing. You can also search for places and events.

Tap the Search tab, then enter a term in the search bar. On your Mac, the search bar is in the upper-right corner of Photos.

  • People: Find photos in your library of a specific person or a group of people. Just keep names and faces organized in your People album.
  • Places: See all of your photos and videos on a map in Places. Or type a location name in the Search bar to see all of the photos and videos from that place.
  • Things: Photos recognizes scenes and objects. Search for a term like 'lake' and then select a category result to see all of your photos that match.
  • Events: Search for an event — for example, a concert you attended a few months ago — and Photos for iOS can use the time and location of your photos along with online event listings to find matching photos.

The Search tab in Photos for iOS also suggests moments, people, places, categories, and groups for you to search. Tap a suggested search, such as One Year Ago or Cats, to explore and rediscover your photos.

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When you search your photos, all of the face recognition and scene and object detection are done completely on your device. Learn more about photos and your privacy.

Projects on your Mac

With Projects on your Mac, you can turn your photos into keepsakes using easy-to-use, powerful Project Extensions.

To create impressive websites, collages, photo albums, wall decor, and more, download extensions from the Mac App Store. Then go to File > Create and choose the extension that you’d like to use.

If you want to finish a project that you've already started or reorder something, go to the My Projects tab in the sidebar to see your full list.

Learn more

  • Learn how to take and edit photos on your iPhone, iPad, and iPod touch. Or how to edit photos on your Mac.
  • Manage and store your photos in iCloud Photos.
  • Make the most of the Photos app on your Mac.