The Florida-based teenager Graham Ivan Clark, who is presumed to be the mastermind behind the recent twitter hack, is reported to have $3 million worth of Bitcoin. Recently he was arrested by federal agents after investigations following the Twitter cyberattack involving high profile personalities.
Explicitly targeted for fraudulent purposes were influential Twitter users such as Barrack Obama, Bill Gates, and even Elon Musk Account. He was reportedly gaining a backdoor channel to access Twitter systems. He then tweeted to promote fake Bitcoin scams in order to lure unsuspecting victims.
Clark’s assets declared in a court hearing
David Weisbrod, who is Clark’s attorney, briefed the court on the teenager’s assets in a court hearing on Saturday. According to Tampa Bay Times reports on Sunday, August 2, Clark has 300 Bitcoin, which is worth $3.35 million.
The prosecution team insists Clark may have fraudulently obtained the said Bitcoins considering his hacking activities. They made reference to the recent July 15 incident of twitter hacking. Weisbrod denied those claims, though. He says the previous year Clark had been subjected to criminal investigations where they obtained $15,000 in cash and 400 Bitcoin currency.
Weisbrod further adds that there was nothing the prosecutor could charge Clark with. The prosecutors even returned the cash they had seized from Clark and Bitcoin. Weisbrod believes this action shows the cryptocurrency ‘s legitimacy since the Bitcoin was given back by law enforcement authorities.
The prosecution set bail at $725 000, which is six times over the money Clark is alleged to have scammed people. He is further facing 30 counts of felony charges on the fake bitcoin scams he allegedly promoted scamming users during the twitter hack.
It is worth noting that the prosecution team only returned 300 Bitcoin instead of the total 400 that they had seized last year.
The recent Twitter hack one of the many cyber-crimes involving fake bitcoin giveaway scams. There is an spike in cases involving fake bitcoin giveaway scams on various platforms including Twitter. Popular YouTube video website has also reported claims of targeted attacks on their networks by cyber criminals promoting the scams.