17-year-old arrested for the big Bitcoin Twitter hack

While the Bitcoin price continues to climb to $11,600 and more traders believe in a possible bull run, U.S. authorities arrested a 17-year-old boy deemed responsible for the big Bitcoin Twitter hack a few weeks ago. Twitter has also released more information about how the hackers gained access to the verified accounts.

Clark, Chaewon and Rolex

As you probably remember, the Twitter accounts of former president Obama, Bill Gates, Elon Musk and many others were recently hacked and a Bitcoin payment was requested.

All accounts of very well-known people promised, during the hack on 15 July, to pay back the double amount that people sent to them in Bitcoin. Of course, the latter never happened, but many people fell into the trap.

Florida teen arrested for massive Twitter hack that scammed people out of $100,000 in Bitcoin. Authorities say the 17-year-old boy hacked the accounts of famous people such as Barack Obama, Joe Biden, Bill Gates, Elon Musk, Kanye West. Previous story: https://t.co/Fgel4ulJui

— CBC News Alerts (@CBCAlerts) July 31, 2020

The U.S. authorities last night arrested a seventeen-year-old named Graham Ivan Clark for the large-scale hack as well as the Bitcoin scam that earned him over a hundred thousand dollars in just a few hours. He is suspected of being the mastermind behind the Bitcoin Twitter hack.

This morning, the FBI, IRS, US Secret Service, and Florida LEAs arrested the 17-yo alleged “mastermind” behind the bitcoin scam Twitter security breach, and charged him with over 30 felony charges - mostly fraud, plus one access w/o authorization count. https://t.co/LhJHpMEhGy

— Kurt Opsahl (@kurtopsahl) July 31, 2020

Together with his companions, 19-year-old Mason Sheppard, alias Chaewon, and 22-year-old Nima Fazeli, alias Rolex, from Orlando, Florida, they painfully demonstrated the security gaps in Twitter.

Bitcoin climbs further to $11,600

Not only did the Bitcoin Twitter hack bring worldwide attention to the world’s most famous cryptocurrency, but it also seemed to coincide with the eventual outbreak of the Bitcoin price in the range between $9,000 and $10,000 in which the currency have been trapped for several weeks. After all, at the beginning of this week Bitcoin rose to $11,000 and in the last 24 hours it even reached the level of $11,600.

• Discover where to buy Bitcoin.

17-year-old accused of masterminding Twitter bitcoin scam #Bitcoin #Twitter #tech #Hackers #cybersecurity #VIKEZ #Blockchain #FBI #crime https://t.co/j1nLnn88hz

— Vikez (@Vikezmedia) August 1, 2020

Traders are increasingly convinced that Bitcoin will soon climb to $12,000 and that the start of a possible bull run is closer.