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Most Massive Hack on Social Media History: $120,000 Currently in Cyberspace

The greatest Twitter hack in history helped cybercriminals to extract around $120,000 in BTC that are right now progressing, as indicated by blockchain investigation firms.

According to Elliptic,

“Three bitcoin addresses were used, which together received around 400 payments. The total value of the bitcoin payments received is approximately USD 120,000. Approximately half of these payments originated from US-based exchanges, suggesting that around half of the victims of this scam are based in the US. The remainder is fairly evenly split between Asia and Europe,”

As indicated by them, there is no unmistakable proof that these assets have moved to trades yet.

“However, some of these funds have moved through a wallet that has previously transacted with exchanges. This could be an important lead for law enforcement investigators seeking to identify the hacker,” they added.

The organization included that it doesn’t appear as though the programmers will get noteworthy extra installments: “Their challenge now is to launder these funds – with the world watching them on the blockchain.”

“It depends on what they do; next, it depends on how they try to cash out,” Tom Robinson, Co-founder of Elliptic, told Bloomberg. If they try to use a regulated exchange in the US, finding them will be easy. But if they try to cash out through one of the hundreds of small, unregulated exchanges, that could be harder”, he was cited as saying.

In the interim, Chainalysis said, “the Ripple address that was posted has not received any funds at this time.” However, there might be other trick addresses.

According to the firm, “The largest victim (USD 40,000) seems to come from a Japanese wallet based on the wallet’s previous transactions with Japanese exchanges. Most of the other sources of victim funds are international exchanges w/ a small amount from US exchange.”

Unsurprisingly, the hackers used some of the funds from the different scam addresses to pay into their main collection address to make it seem like more people are participating and benefiting from the scam.

— Chainalysis (@chainalysis) July 16, 2020

On Wednesday, various prominent Twitter accounts were at the same time hacked, conveying tweets promising to twofold the cash of anybody sending reserves utilizing BTC inside 60 minutes.

Among the casualties are Joe Biden, Jeff Bezos, Elon Musk, Bill Gates, Michael Bloomberg, Kanye West, Uber, Apple, Kim Kardashian West, Barack Obama, Warren Buffett, CashApp, and others.

Records of major crypto trades were likewise undermined.

Twitter said that they have detected what we believe to be a coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools.”

When we got mindful of the occurrence, we quickly secured the influenced accounts and expelled Tweets posted by the assailants.

— Twitter Support (@TwitterSupport)

The firm has likewise restricted usefulness for a lot bigger gathering of records, “like all verified accounts (even those with no evidence of being compromised), while we continue to fully investigate this.”

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