Analysts were able to track the wallet …

Analysts were able to track the wallet …

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Analysts were able to track Twitter hackers’ wallet via Coinbase and BitPay

  • It looks like the attackers deliberately used the address previously seen on Coinbase.

  • The hackers most likely bribed a Twitter employee to access verified accounts.

  • Twitter has not yet commented on the merits of the incident..

Analysts were able to track the wallet ...

International consortium of news organizations, developing standards for transparency.

The attackers behind Twitter’s biggest hack seem to be trying to launder stolen funds through a wallet previously used to circulate funds through BitPay and Coinbase.

Analysts were able to track the wallet ...

Unidentified persons can launder funds obtained as a result of a large-scale attack on Twitter through the Coinbase cryptocurrency exchange, BitPay and CoinPayments processing bitcoin payments.

This is the conclusion reached by the Whitestream analytical agency, referring to the history of transfers of the cybercriminals’ wallet in the blockchain.

According to Whitestream, at least three past transactions originating from a fraudulent address lead to wallets associated with Coinbase and BitPay.

The digital underground

Initially, the attackers used a legacy address (through it they managed to collect 14.7 bitcoins), but later, when individuals and companies outside the cryptocurrency market came under attack, the hackers already published a Bech32 address (also known as a SegWit address).

It was the legacy address that came under the scrutiny of Whitestream analysts, who tracked three transactions leading to Coinbase and BitPay..

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Analysts were able to track the wallet ...

The first 1.2 BTC transaction took place in May 2020, while the last two were sent two days before the hack.

However, it is quite possible that the attackers used the merchandiser address to cover their tracks..

Recall that the cryptocurrency exchange has a special section Coinbase Commerce, which allows you to accept cryptocurrency through widgets for websites.

Inconvenient details

Despite the fact that Twitter has not yet been able to name the exact reason for the attack, the Vice publication, citing sources close to the hacking community, said that the attackers gained control over the verified accounts through the internal Twitter admin panel by bribing an employee of the company..

The publication published screenshots of the panel, which the Twitter administration is actively deleting on the network.

Recall, on the night of July 16, unknown persons gained access to over a dozen verified accounts of famous personalities and companies on Twitter.

Elon Musk, Bill Gates, Binance, Gemini and many other companies were hit by a massive scam attack.

What do you think? Will analysts be able to reach cybercriminals? Share your thoughts with us in comments and join the discussion in our Telegram channel.


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