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Twitter Hacker’s Wallet Caught Using BitPay and Coinbase – Report

Highlights

    Twitter Hack-Related Wallet earlier transferred funds to Wallet associated with Coinbase exchange and BitPay

    Twitter hackers gained access to high profile Twitter accounts ‘to promote Bitcoin scam’ and successfully collected more than 12 Bitcoins (BTC)

Hack-Related Wallet Points at Coinbase and BitPay

Whitestream, a blockchain analytics company recently shared a quick post on twitter, revealing the hacker’s bitcoin wallet pointing to two major companies. He earlier sent bitcoins from hacking wallet address to a wallet associated with Coinbase and BitPay for earlier transactions.

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The very first transaction points at 1.2 BTC which was transferred to BitPay in May 2020. On the other hand, the other two transactions were executed two days before the hack and the funds were to sent to the wallet associated with Coinbase.

That being said, the original bitcoin address of the hacker has received 14.75 bitcoin in total including the bitcoin transferred by victims following hack incident. 

Interestingly, the three transactions executed using BitPay and Coinbase before the hack was used as ‘merchant usage’. Apparently these were small transactions in number. Perhaps this made it difficult for companies to analyze that the wallet address could be used for hacking. 

However, very soon after these transactions, the world woke up to ‘largest Twitter hack related to bitcoin scam’. Over a dozen Twitter accounts have been hacked on July 15, 2020. These hacked accounts for about two hours used to spread the bitcoin scam message among millions of account’s followers.

Also know – If Twitter was a Decentralised Platform, Would Twitter Hackers Still Spread Bitcoin Scam?

However, as per Wikipedia, the incident marked for the successful transfer of more than 12 bitcoins to hacker’s wallet address with over 320 transactions. The amount of 12 bitcoins is equivalent to more than USD$11000. This incident perhaps considered as the ‘worst hack of a major social media platform yet, as per Dmitri Alperovitch, co-founder at CrowdStrike, a cybersecurity firm. 

Stay tuned with the Coinpedia to know more.! or follow us on Twitter @CoinpediaNews

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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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