The microblogging platform revealed it was targeted by a "coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools".
Twitter has not yet said if its employees were working with the attackers during the incident to takeover the impacted accounts, if they provided the hackers with access to the administration tools to use them as they saw fit, or if the scammers took control of Twitter's internal tools without the employees' knowledge. "We're diagnosing and will share everything we can when we have a more complete understanding of exactly what happened", Jack Dorsey tweeted.
The scam is a simple one, with a promise that the world's richest people would double the amount of money sent to a Bitcoin crypto currency address.
Twitter acknowledged that temporarily preventing verified account holders from tweeting or resetting their passwords was disruptive, but said it was an important step for reducing risk.
"On the one hand, tweets from government officials may help shape the American public narrative and provide greater insights into United States decision-making to reduce misperception by foreign actors", they wrote.
Twitter said in a statement: "We are aware of a security incident impacting accounts on Twitter". The team had also limited access internally to internal systems and tools during the investigation.
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He also contested the Dakar Rally in January, and will be making his third attempt at the Indianapolis 500 later this year. McLaren struggled badly after switching to a Honda engine, and he failed to secure a podium finish in four seasons.
Jordan said he remained locked out of his Twitter account as of Thursday morning and said his confidence in how the company operates has been deteriorating.
That could mean blackmailing or bribing someone to gain access to accounts or even an insider carrying out a hack themselves.
"Could have easily sold this access for millions", David Kennedy, the creator of two large-scale cybersecurity firms, wrote on Twitter. The biggest names of victims include Elon Musk, Charlie Lee, CZ, Justin Sun, and also official accounts of platforms like Coindesk, Coinbase, Gemini, etc. You send $1,000, I send back $2,000! "Most accounts should be able to Tweet again".
Some experts said it seemed probable that hackers had access to Twitter's internal infrastructure.
Dorsey's assurances did not assuage Washington's concerns about social media companies, whose policies have come under scrutiny by critics on both the left and the right.
Sun's decision to issue a million-dollar bounty to identify the hackers appears to have been born out of a desire to redeem the industry's reputation. Twitter eventually shut down all verified accounts from sending any messages.