Twetch, a social media platform operating on the Bitcoin SV (BSV) blockchain, unexpectedly ceased operations on June 6, leaving many crypto investors unable to access their nonfungible tokens (NFTs) and virtual collections. Despite the lack of prior notice, Twetch simply stated, “We are working on it,” in response to the issue. The website bid farewell without providing any explanation for its closure, but users could still download the mobile app from Apple and Google stores.
Bitcoin SV, created by Craig Wright, who once claimed to be the real Satoshi Nakamoto, faced a setback when a UK court ruled against him on March 14. It is worth mentioning that Twetch.com was founded by CEO Josh Petty and had no affiliation with Wright.
In a hopeful turn of events, Twetch hinted at a potential comeback by planning to release its code as open source. While Twetch grapples with user engagement, other platforms like X face challenges of a different nature. X recently dealt with hackers compromising CoinGecko accounts and promoting fraudulent investments. Similarly, Near Protocol’s X account experienced suspicious activity, prompting concerns of a possible attack.
Near Protocol’s official X handle sent out unusual tweets instructing followers to “reclaim your sovereignty,” sparking worries among its nearly two million followers. As the industry navigates these challenges, the future of Web3 platforms remains uncertain.