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Illustration: Rebecca Zisser/Axios

A number of prominent Twitter accounts, including those of Joe Biden, Barack Obama, Bill Gates and Elon Musk, appear to have been compromised Wednesday, posting messages tied to a cryptocurrency scam.

The latest: Twitter temporarily disabled all verified accounts from tweeting for several accounts. At about 8:45 pm ET, Twitter said in a statement: "Most accounts should be able to Tweet again. As we continue working on a fix, this functionality may come and go. We're working to get things back to normal as quickly as possible."

Why it matters: Twitter has become a key source of communication, and people generally assume the content posted by an account is from the person who owns the account, increasing the likelihood of a scam being successful.

  • One bitcoin wallet linked to the scam appears to have received the equivalent of over $100,000, according to CNBC.

Details: The accounts of Jeff Bezos, Mike Bloomberg and Kanye West, as well as companies Apple, Bitcoin.org, Coinbase and Ripple, were similarly compromised, in addition to several others.

  • Late Wednesday, Twitter posted: "We detected what we believe to be a coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools."
  • A Biden spokesperson said in a statement, "Twitter locked down the account immediately following the breach and removed the related tweet. We remain in touch with Twitter on the matter."

Go deeper

Dion Rabouin, author of Markets
Oct 22, 2020 - Economy & Business

PayPal brings bitcoin to the mainstream

Expand chart
Data: Investing.com; Chart: Axios Visuals

PayPal's decision to allow customers to hold bitcoin and other virtual currencies in its online wallet and shop using cryptocurrencies sent the value of bitcoin soaring on Wednesday.

Why it matters: With 346 million active accounts around the world and 26 million merchants, PayPal could bring cryptocurrencies into mainstream acceptance.

Dion Rabouin, author of Markets
20 mins ago - Economy & Business

The European Central Bank and the market's moment of truth

ECB president Christine Lagarde; Photo: Chip Somodevilla/Getty Images

The biggest event for markets this week will be Thursday's meeting of the European Central Bank's governing council and the press conference following it from ECB president Christine Lagarde.

Why it matters: With interest rates jumping around the globe, investors are looking to central bank heads to see if they will follow the lead of Fed chair Jerome Powell, who says rising rates are nothing to worry about, or Bank of Japan governor Haruhiko Kuroda, who has drawn a line in the sand on rates.

Mike Allen, author of AM
1 hour ago - Politics & Policy

Manchin's next power play

Photo: "Axios on HBO"

Sen. Joe Manchin (D-W.Va.), America's ultimate swing voter, told me on "Axios on HBO" that he'll insist Republicans have more of a voice on President Biden's next big package than they did on the COVID stimulus.

The big picture: Manchin said he'll push for tax hikes to pay for Biden's upcoming infrastructure and climate proposal, and will use his Energy Committee chairmanship to force the GOP to confront climate reality.