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Crypto Firm Reports That Bitcoin Collected From Twitter Hack Is On The Move
Summary: Cryptocurrency tracing firm Elliptic reports that funds collected from the Twitter hack that took over prominent accounts on Wednesday, July 15 are on the move, as reported by Coindesk. The hack appears to have collected $123,000 worth of Bitcoin. 22% of the haul was transferred last night to what Elliptic believes to be a Wasabi ...
Cryptocurrency tracing firm Elliptic reports that funds collected from the Twitter hack that took over prominent accounts on Wednesday, July 15 are on the move, as reported by Coindesk.
The hack appears to have collected $123,000 worth of Bitcoin. 22% of the haul was transferred last night to what Elliptic believes to be a Wasabi wallet. Wasabi wallets mix up transaction trails, making it harder for law enforcement to trace. Elliptic states that distinctive transaction patterns allow the firm to pinpoint Wasabi wallets.
Without mixing up transaction trails, the Twitter hackers will have a hard time transitioning their illicit Bitcoin off-chain thanks to the public nature of Bitcoin's blockchain. If the hacker attempts to move funds on a Bitcoin-fiat exchange they will be identified.
By Emily Mason
Tags: Cybersecurity,Elliptic,Twitter
Link: Crypto Firm Reports That Bitcoin Collected From Twitter Hack Is On The Move [Copy]
