Despite the fact that hacking is a well-known term in the crypto industry, fraud, phishing attempts, and stolen accounts pose the issue of how many cryptocurrencies some of these hackers actually hold.
Per an interview with Soft White Underbelly published three days ago, an unidentified hacker known as Gummo has revealed to hold approximately 150,000 Bitcoin (BTC) exceeding the amount of $7 billion.
Gummo made his debut on the Soft White Underbelly YouTube channel in December 2020, when he discussed his origins and how he became a hacker for a span of 3 decades.
Gummo explains how he solved these obstacles by developing a love for technology and eventually developing a set of cyber skills, which he exploited for malicious reasons during his teenage years in order to survive.
Gummo said throughout the interview that he owned more than $7 billion in Bitcoin (BTC), which is equivalent to 179,863 Bitcoin (BTC) at the market price of little under $39,000 as of Tuesday.
“I’m quite wealthy. Yeah, I do not have to work if I don’t choose to. I have over seven billion dollars worth of Bitcoin,” said Gummo. Gummo uses his cyber capabilities for positive deeds, but he does acknowledge that crypto stealing is a problem.
Gummo also went on to say that “the landscape is growing darker and more sinister as more people wish to seek their wealth whether it be cryptocurrency theft or traditional theft of banking systems.”
Just last year, the losses from cryptocurrency scammers and hackers amounted to a staggering $2.8 billion, making the average daily amount of crypto assets stolen at more than $7 million.