$3,000,000 Worth of Bitcoin Found in Twitter Hacker’s Coffers

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Sun, 08/02/2020 - 10:23
Alex Dovbnya
The Florida teenager who masterminded the Twitter hack has $3 mln in his coffers
Cover image via stock.adobe.com
Contents

The Tampa Bay Times reports that Graham Ivan Clark, the Florida teen who was behind the massive Twitter hack, has more than $3 mln worth of Bitcoin, according to his defense attorney David Weisbrod. 

This BTC stash, however, is not related to the giveaway scam that inadvertently promoted by the who’s who of politics, businessmen, and entertainment as part of Clark’s elaborate plan.     

The biggest Twitter hack

As reported by U.Today, the 17-year-old got arrested Friday after several federal law enforcement agencies found out that he was responsible for the biggest security breach in Twitter’s history.

Clark faced 30 felony charges after hacking the accounts of Elon Musk, Bill Gates, Joe Biden, and other prominent figures to advertise a Bitcoin scam.

Together with his two accomplices, he manipulated Twitter employees into providing access to the website’s control panel. 

Initially, some assumed that the whole crypto giveaway thing was just a cover-up for something more sinister, but it now appears that earning a quick $117,000 in hours was the main motivation behind the incident.

The whole Twitter affair doesn’t seem to be worth the hassle considering that Clark’s bail was set at a whopping $725,000 on Saturday during his first court appearance.  

image by tampabay.com

Related
Elon Musk’s and Bill Gates' Twitter Accounts Get Hacked to Advertise Bitcoin Giveaway Scam

A $3 mln Bitcoin fortune

The defendant will be able to afford the bail given that he’s sitting on a $3 mln Bitcoin fortune that was uncovered over the course of a separate criminal investigation in 2019.

While Clark’s prosecutors claimed that all this crypto is “ill-gotten,” the defense attorney says that his client had most of his confiscated funds returned, which proves their legitimacy:

“I can think of no greater indication of legitimacy than law enforcement giving the money back.”

Apart from paying a hefty bail to get out of jail, Clark will also have to wear an ankle monitor.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.


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