Gummo, a former blackhat hacker, recently stated in an interview that he is the owner of more than $7 billion in bitcoin. Many folks were taken aback by the surprising discovery.
In a recent interview with Soft White Underbelly, Gummo revealed his large bitcoin stockpile. He explained:
“I am quite wealthy… I do not have to work if I do not choose to. I have over $7 billion worth of bitcoin.” He would have 178710.02 BTC at the time of writing, based on the current market price of BTC of $39,154.65.
Gummo’s journey as a Whitehat hacker
Gummo made his debut appearance in December 2020 on the Soft White Underbelly YouTube channel. He talked about his childhood and how he ended up being a hacker in the interview.
His passion for computers helped him get through his difficult upbringing, which included the loss of his single mom. He claimed to have worked as a hacker for more than 36 years.
He developed his hacking talents due to loneliness and challenging childhood, as well as a liking for computers. He puts his abilities to the test by breaking into secure networks and executing a variety of cybercrimes.
When the enforcement apprehended him for selling satellite software worth more than $20 million, his hacking rampage ended. Fortunately, the authorities gave Gummo two choices: incarceration or putting his hacking abilities to good use.
He went with the latter option and continued his quest to become a whitehat hacker. He also constructed four supercomputers that assisted him in mining over 80,000 BTC.
Gummo put his hacking abilities to good use, assisting several corporations and hedge firms in creating highly secure networks.
Gummo recently stated in an interview that as the digital landscape advances, bad actors on the internet continue to invent new techniques. True, the rate of cybercrime has risen dramatically in recent years.
Hackers stole more than $80 million from the DeFi initiative, Qubit Finance, earlier this year. Deus Finance was also recently hacked, resulting in the loss of over $3M in crypto.
Crypto frauds and hacks are on the rise, thanks to the rising popularity of bitcoin. Whitehat hackers perform an essential role in keeping the system safe and secure, finding security flaws, and ensuring the safety of user payments.