Twitter Temporarily Suspends @Bitcoin Sparking Wild Conspiracy Theories

The account was restored on Monday after two users took over the account briefly. There are different conspiracy theories pointing to the reasons why it was banned, including a claim that it was Bitcoin Core community-fighting Bitcoin Cash.

There was an uproar after the @Bitcoin Twitter account was shut down over the weekend. A user claiming to be Turkish took over the account briefly and then a Russian claimed it being restored to its real owner on Monday.

And when the owner got back the account, 750,000 of his followers were missing. Though a Twitter spokesperson said they do not comment on individual accounts, the activity reveals the underground happenings on Twitter. Accounts get hacked.

The account had more than 821, 000 followers at suspension time although Twitter is restoring them slowly. The account supports Bitcoin Cash. It, therefore, caused concerns that enemies of Bitcoin Cash — especially from Bitcoin Core side — were out to haunt the cryptocurrency.

Account reported as spam

They claimed that someone might have falsely reported the account as a spam or harassment account. Jeff Garzik (@jgarzik) claimed that the Core community also reported his Reddit and GitHub accounts for abuse, drowned Bitpay and Xapo apps with one-star reviews and votes.

He claimed,

“This is how they “debate” with those who disagree.”

This may not be far from the truth since there were some calls to report the account before. Someone claimed in January that it was a fake @Bitcoin account, an opinion some agreed and others denied sharply. Others said they reported it as spam, hate speech, or price pumping.

Some users even said they reported @Bitcoin for spreading what they viewed as propaganda for Bitcoin Cash

“I complained to Google because when I would Google bitcoin I would get a prominently displayed Twitter feed of @Bitcoin with three separate posts, and always the first one was that bcash was the real bitcoin,” reads one Reddit comment. “I found it a fraudulent statement intended to confuse and induce newbies to buy their cheap knock-off product.”

Others say it was hijacked by Roger Ver who supports Bitcoin Cash. Ver denied the claims on April 19 this year adding that the account is run by someone involved with Bitcoin since 2009. He added that the owner is well-known in the Bitcoin ecosystem but since he did not want to deal with incessant trolling. However, he was choosing to make his identity public.

The account only began tweeting about Bitcoin Cash in January. Although it was formed in August 2011 according to its Twitter bio.

The account tweeted that the owner had become busy with other things and was deciding to become active in the community again.

Some conspiracy theories also claimed Twitter suspended the account because of CEO Jack Dorsey’s support for Bitcoin Core. Since it has a $2.5 million investment in Lightning Labs. The latter is a startup building technology for Bitcoin Core.

Also, the fact that two people separately tweeted with the account after it was banned raises concerns about whether it was hacked. And further suspicions whether it could have been hacked twice. Thus, within that short period of time, which would be a rare incidence.

What is your thought on the banning and hacking of crypto accounts on Twitter? Let’s get connected on Twitter and Telegram.

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David Kariuki is a journalist who has a wide range of experience reporting about modern technology solutions including cryptocurrencies. A graduate of Kenya's Moi University, he also writes for Hypergrid Business, Cryptomorrow, and Cleanleap, and has previously worked for Resources Quarterly and Construction Review magazines.

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