Elliptic: Twitter Hackers Launder Bitcoins via Wasabi
Main page News, Twitter, Hacker Attack

Hackers behind the recent Twitter attack are laundering bitcoins via privacy-focused bitcoin wallet Wasabi.

According to Elliptic, a crypto-asset risk management firm, hackers are trying to launder 2.89 BTC, accounting for 22% of the funds obtained as a result of the recent attack through a Wasabi Wallet.

Twitter Hit by Massive Hacker Attack

Elliptic says the hackers are currently focused on how to cash-out their bitcoins likely through one or more crypto exchanges.

"The challenge they face is when exchanges use blockchain monitoring tools such as Elliptic’s to scan the blockchain and determine the source of the funds for any bitcoin transaction they receive," Elliptic wrote in an official statement.

The analytical agency admits the use of Wasabi Wallet simplifies for the bad actors the process of hiding traces as the wallet makes the blockchain trail untraceable.

As a result of the recent attack, Twitter decided to restrict the publication of crypto addresses. This way Twitter wants to avoid incidents in which fraudsters attract funds via publishing fraud advertising with crypto addresses.

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iHodl earlier reported that the Federal Bureau of Investigation (FBI) initiated an investigation into the attack on Twitter. The agency contacted several companies, including Chainalysis and CipherTrace to assist with the investigation.

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