Following the arrest of Graham Ivan Clark, the 17-year old Florida teen who allegedly masterminded the Twitter hack last month, recent investigation has revealed that the accused has more than $3 million worth of Bitcoin assets.
According to a report on local news outlet Tampa Bay Times yesterday, Clark, who had his bail hearing held on Saturday was asked to pay the sum of $725,000 as one of his bail conditions by the prosecutors.
However, his attorney, David Weisbrod, would not have any of it as he believed the bail requirement is six times more than what he was accused of stealing, which amounts to $117,000.
The prosecutor stated that giving Clark’s role in the July 15 massive Twitter hack of famous figures accounts on the micro-blogging platform, it is inevitable that the teen’s assets were illegally obtained.
In Clark’s defense, Weisboard informed the court that his client was involved in a criminal investigation last year that led to authorities seizing his cash worth about $15,000 and 400 Bitcoin (BTC).
However, the cash and 300 BTC were later returned to the accused, which confirmed Clark’s assets’ legitimacy.
“I can think of no greater indication of legitimacy than law enforcement giving the money back,” Weisboard argued.
Weisboard urged the court to set his bail at $20,000, but the judge finalized that Clark’s bail should be set at $25,000 per 29 counts. Other bail conditions that accompanied the 30th count include the accused being placed on home arrest unless whenever he wants to pay a visit to his doctor or attorney.
He was also instructed to wear an electronic ankle monitor and subsequently barred from accessing the internet for the time being.
Clark currently faces more than 30 counts, which include 17 counts of communications fraud, 11 counts of fraudulent use of personal information of his victims, and one count each of organized fraud for more than $5,000.
Meanwhile, Coinfomania reported the arrest of Clark on Friday, about two weeks after the Twitter hack.