After the Twitter hacking incident, how will the hackers spend the bitcoin they got?
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Answer After the Twitter hacking incident, how will the hackers spend the bitcoin they got?
It happened last week that a group of hackers hacked Twitter and took control of several Twitter accounts belonging to prominent personalities.
These accounts were used with the aim of promoting a scam that resulted in a total of 12.5 bitcoins (about $120,000).
How will the pirates spend the bitcoin they got?
According Blockchain analytics firm Ciphertrace, hackers are using a combination of bitcoin mixing services, gambling sites, and unsupervised trading services in an attempt to hide funds and transfer them to another cryptocurrency.
The first outlet for this money was a bitcoin mixing service.
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This allows people to exchange their bitcoin for someone else’s bitcoin while hiding the identities of all parties. These mixers are often used to launder stolen bitcoin.
On July 16, a day after the hack, hackers sent 2.89 bitcoins (about 22.5% of the total bitcoins they received) to Wasabi Wallet, a privacy-centric bitcoin wallet with a built-in shuffling mechanism. Follow the path of the stolen money.
A day later, 0.1022 BTC was transferred to another mixing service, Chipmixer Wallet, after which Ciphertrace could not track BTC any further.
Over the next few days, Ciphertrace tracked the bitcoin obtained by the fraudsters, which had been hashed into small amounts to make it difficult to trace and then sent to P2P trading platforms and gambling sites.
Just over 1 bitcoin was also sent to an unnamed Singapore-based cryptocurrency exchange.
Who hacked Twitter?
According to report Released by the New York Times, the hack was led by a group of young people.
The attackers told The Times how they had gained an advanced level of management of the Twitter network with information left on Slack’s internal Twitter channel.
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