Twitter hackers leave bitcoin transaction trails as investigation begins

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Twitter hackers leave bitcoin transaction trails as investigation begins

Hackers who had targeted a swathe of Twitter’s top users on Wednesday ranging from politicians to celebrities to billionaires including twitter accounts of Tesla boss Elon Musk alongside the Microsoft Chief Bill Gates, aimed at harvesting over $120,000 worth of bitcoin assets, might have left trails of digital footprints that could help law enforcement agencies to track down the hackers, at least three blockchain analysis firms had unveiled on Thursday.

As a matter of fact, latest remarks from the blockchain analysis firms came forth a day after a number of unidentified hackers had hijacked numerous high-profile twitter accounts in order to use them to transfer bitcoins to a cascade of digital wallets.

Intelligences could pinpoint potential criminal suspects by tracing the digital wallets if required, say analysts

In factuality, although it had been a common belief that the digital transactions conducted through the original digital currency, Bitcoin, which was used to receive and send funds without disclosing the participants’ identity, could not be traced, however, all three blockchain analysis firms were quoted saying that each digital transaction leaves a trail in the blockchain which could be used to pinpoint the crypto payment firms linked to the latest Twitter scam.

Apart from that, a US blockchain forensic firm Chainalysis said to a press agency late on Thursday that one of the digital wallets used in the latest Twitter scam to consolidate the bitcoins worth of $120,000 appeared to have prior links with crypto firms alongside merchant service providers, while the identified digital wallet could proffer a decipherable clue to the investigators.

Meanwhile, adding that the law enforcement agencies could track down the hackers by following the trail of the bitcoins, a spokeswoman for Chainalysis said, “They have interacted with service providers that have known-your-customer processes, and law enforcement can work with those service providers to find out who can be behind those accounts”.