Bitfinex hacks BTC are on the moved - page 3.

Debonaire217

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Quote from: Bill Gates on July 28, 2020, 03:21:09 PM

I'll be surprised if they don't mix it before taking it to some exchange wallet.

Way back 2016, there's really a low awareness of bitcoin users to mixers. I'm not saying that there's no mixers available, but perhaps, there's a chance that these trasactions and hacks didn't underwent a mixer. Meaning, they are still trackable, this just clears the fact that bitcoin isn't a tool to money laundering.

Just like what the other have said, unless these people didn't use exchange to withdraw funds such as regulated exchange: binance (today), they can still not be identified. As far as I know, exchanges before are mostly unregulated meaning, you don'tneed to conduct KYC verification.

cryptomaniac_xxx

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Quote from: philipma1957 on July 28, 2020, 07:57:22 PM

Statue of limitations law could be the reason for the wait.

The crime was done in 2016 it is 2020.

They may simply cash it in a country that says the time limit is past.

I never think of this options for this scammers, thanks. But what country though that they can cash it out? And they can't simply move it without anyone noticing in since obviously there are a lot of trackers and everything is written in blockchain.

And BTC-e is gone, notoriously for allowing these criminals to mix and launder their bitcoins thru their exchanges.

rhomelmabini

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Quote from: Kemarit on July 28, 2020, 07:50:18 PM

Perhaps, what they are good at is hacking or being a cyber criminals.

Perhaps but I think they do. Well, we can't really tell until we know how they are working with those coins; selling or holding for much more profit.

Quote from: Wexnident on July 28, 2020, 08:58:04 PM

But wouldn't they want to profit more off of what they did? I mean, they could've moved it last year, or on 2018, they could've made quite a profit but seeing as they waited for only now, they must have some thoughts about it. Well, we can't deny that time may have been a factor since they're probably avoiding the surveillance, hence them not moving for 4 years, but you still can't remove the factor of them wanting to profit as much as possible.

If they can't still be known even by now then why they've waited and not sell those on the 2017 bull market? We can only assume they are maybe waiting for another bull run or getting away right now from the spotlight, I mean if those coins wouldn't be traced up if they are mixed in. I believe it will be traced, right?

Wexnident

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Quote from: Kemarit on July 28, 2020, 07:50:18 PM

They doesn't care about what the price will be, it is free Bitcoin for them because obviously they stole it. So regardless if we are in a pandemic or not or if the price is $1000 or $10,000 they are going to sell it if they see the opportunity.

But wouldn't they want to profit more off of what they did? I mean, they could've moved it last year, or on 2018, they could've made quite a profit but seeing as they waited for only now, they must have some thoughts about it. Well, we can't deny that time may have been a factor since they're probably avoiding the surveillance, hence them not moving for 4 years, but you still can't remove the factor of them wanting to profit as much as possible.

Quote from: LbtalkL on July 28, 2020, 05:39:02 PM

I just hope that all exchanges will level up their security to minimized happenings like this, Hackers get out freely using the advantage of cryptocurrency because of its ability of being anonymous. They can mixed it with privacy coins like monero their is no way to trace them. I don't know if this will continue in the future It will surely add more bad image to cryptocurrency.

Anyone that even knows about the minimum amount of Crypto wouldn't necessarily blame Bitcoin for such happenings. It's not like Bitcoin is a database or a system, it could simply be said to be a medium. Why blame the medium when those who own it were at fault right? Placing the blame on the wrong identity would only be done mostly by those that don't know about Bitcoin. It's not like you blame the US dollar for being stolen by robbers right?

philipma1957

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Statue of limitations law could be the reason for the wait.

The crime was done in 2016 it is 2020.

They may simply cash it in a country that says the time limit is past.

Kemarit

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Quote from: rhomelmabini on July 28, 2020, 07:46:58 PM

Quote from: Yaunfitda on July 28, 2020, 03:15:44 PM

The move coincides when the price of bitcoin is picking up, obviously, these criminals wanted to enjoy their loot and could be cashing it out anytime soon.

I don't think they'll sell it with this price right now unless they're are in the hopelessness or one of those people who have lost their jobs because of the pandemic. Chances is they are just gearing up to sell it for a higher price maybe right now they are still mixing and mixing those coins. Who knows?

They doesn't care about what the price will be, it is free Bitcoin for them because obviously they stole it. So regardless if we are in a pandemic or not or if the price is $1000 or $10,000 they are going to sell it if they see the opportunity.

Quote from: rhomelmabini on July 28, 2020, 07:46:58 PM

I assume they might have a little understanding of basic TAs or FAs.

Perhaps, what they are good at is hacking or being a cyber criminals.

rhomelmabini

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Quote from: Yaunfitda on July 28, 2020, 03:15:44 PM

The move coincides when the price of bitcoin is picking up, obviously, these criminals wanted to enjoy their loot and could be cashing it out anytime soon.

I don't think they'll sell it with this price right now unless they're are in the hopelessness or one of those people who have lost their jobs because of the pandemic. Chances is they are just gearing up to sell it for a higher price maybe right now they are still mixing and mixing those coins. Who knows?

I assume they might have a little understanding of basic TAs or FAs.

dothebeats

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It's not surprising that these hacked coins will be on the move now knowing that the price action is receiving a lot of positive steam and most traders are also moving coins like crazy. They'd surely be mixing those coins first before inserting it into an exchange for their trades to be smooth and to not be suspicious to anyone. Anyway, the volume of this coins may be able to make a slight bump on the current price although I don't think it will be that much considering that tens of millions of dollars worth of bitcoin are being traded at this very moment on all exchanges. They're lucky people didn't pursue finding them enthusiastically and it's just payday for everyone involved in the hack.

sheenshane

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Quote from: Kelvinid on July 28, 2020, 05:47:36 PM

So it means that they are kept waiting for many years just get unnoticed?

This was also in my mind, how they can wait for that long period of time just wanted that they aren't noticing with someone but the fact, investigator's eyes are now looking at this connected addresses.

There's no any way for them to convert into fiat their hacked Bitcoin. I don't know if they keep sending or moving Bitcoin into different addresses that will help them to mislead those who investigate them. Poor scammers had millions of dollars in Bitcoin but it worth nothing because they can't convert it to cash.

TravelMug

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Quote from: Yaunfitda on July 28, 2020, 03:15:44 PM

The move coincides when the price of bitcoin is picking up, obviously, these criminals wanted to enjoy their loot and could be cashing it out anytime soon.

They just have to be clever and find a way to cash their loot and enjoy it for the rest of their lives because all eyes are on this stolen bitcoins.

They can used privacy coins such as Monero or a tumbling services but blockchain analysis will be hot on their trail. Again, it's not that easy to conceal, and we do hope that these scammers can be caught and put to justice.

Kelvinid

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So it means that they are kept waiting for many years just get unnoticed?
That is pretty clever. Scammers/hackers really have those skills to divert the minds of the people around them. But too bad to think that they can escape from us, they never use the third party to enjoy the money that leads them into a way of being traceable. Will it hope that exchanges will look into any suspicious cashouts as probably it is the case by now as usually hackers will do.

I'm not how this affects the price movement because it was not really big enough, to be honest.

LbtalkL

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I just hope that all exchanges will level up their security to minimized happenings like this, Hackers get out freely using the advantage of cryptocurrency because of its ability of being anonymous. They can mixed it with privacy coins like monero their is no way to trace them. I don't know if this will continue in the future It will surely add more bad image to cryptocurrency.

TEX-LXRY

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Quote from: Jating on July 28, 2020, 05:34:47 PM

Quote from: target on July 28, 2020, 05:14:43 PM

Worth the wait for them to make use of the stolen funds when the market gets better and the price improves. Seem not a hacker that will spend their loot right there and then after looting, this eans they have some funds before the hack.

Would they be able to clean it when it gets into a dex like bisq or blocknet by buying altcoins and sent it out to the centralized exchange?

I don't think that this hackers are going to used CEX though, they have waited long enough, maybe study how they are going to move and hide their footprints, but definitely, going on a centralised exchange is the last thing that this cyber criminals will do.

There are options for them, bitcoin mixer, conjoin such as Wasabi, that was reported being used by the twitter hacker.

Above all they may have found some buyer for stolen bitcoins and that buyer has bigger ideas or maybe buy less and keep it for long term?

That's all assumptions and we do not know what the hacker is gonna do exactly!

TEX-LXRY

Jating

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Quote from: target on July 28, 2020, 05:14:43 PM

Worth the wait for them to make use of the stolen funds when the market gets better and the price improves. Seem not a hacker that will spend their loot right there and then after looting, this eans they have some funds before the hack.

Would they be able to clean it when it gets into a dex like bisq or blocknet by buying altcoins and sent it out to the centralized exchange?

I don't think that this hackers are going to used CEX though, they have waited long enough, maybe study how they are going to move and hide their footprints, but definitely, going on a centralised exchange is the last thing that this cyber criminals will do.

There are options for them, bitcoin mixer, conjoin such as Wasabi, that was reported being used by the twitter hacker.

carlfebz2

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Quote from: Yaunfitda on July 28, 2020, 03:15:44 PM

To refreshed those who are not aware of the hacks backed in 2016, The Bitfinex Bitcoin Hack: What We Know (And Don’t Know).

According to whale alert:

https://twitter.com/whale_alert

The move coincides when the price of bitcoin is picking up, obviously, these criminals wanted to enjoy their loot and could be cashing it out anytime soon.

Its already anticipated and this doesnt only apply on that hacks but also into those scams out there where people or those criminals would really consider that this would be the best time on cashing out those btc's that they had stolen.

Wondering if exchangers would able to spot it out and make holds of those once it do reach out the platform.Tracing it completely or do follow would really be a pain in the ass.

Price is starting to cling up and its understandable that these movement of coils will surely happen.

target

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Worth the wait for them to make use of the stolen funds when the market gets better and the price improves. Seem not a hacker that will spend their loot right there and then after looting, this eans they have some funds before the hack.

Would they be able to clean it when it gets into a dex like bisq or blocknet by buying altcoins and sent it out to the centralized exchange?

goaldigger

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Quote from: blockman on July 28, 2020, 03:45:58 PM

Quote from: Bill Gates on July 28, 2020, 03:21:09 PM

I'll be surprised if they don't mix it before taking it to some exchange wallet.

They don't have to mix it, much better if they don't so that if they trade it to exchanges like Binance, those funds will be recovered and will be freezed.

After holding for a years, I believe those hackers knows how to remain anonymous and will not make the big mistake of not mixing the bitcoin, or else the hacked bitcoin will finally recover. Well, the incident was on 2016 and the big bull was 2017, I also wonder why those hackers didn’t sold those bitcoin as the peak price of bitcoin.

Pffrt

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The amount is too small, it will have no affect in the market I think unless they move a big bag. Did they move any BTC back in 2017? I can't remember reading such kind of information back then.

Quote from: blockman on July 28, 2020, 03:45:58 PM

They don't have to mix it, much better if they don't so that if they trade it to exchanges like Binance, those funds will be recovered and will be freezed.

If they are lunatic, stupid, they would not mix the coin and directly send to exchanges. They will at least use coinjoin and a centralize mixer to get moved from trace.

blockman

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Quote from: Bill Gates on July 28, 2020, 03:21:09 PM

I'll be surprised if they don't mix it before taking it to some exchange wallet.

They don't have to mix it, much better if they don't so that if they trade it to exchanges like Binance, those funds will be recovered and will be freezed.

suzanne5223

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@OP, the hackers start moving the coins since yesterday and for them to also move some today either they definitely want to sell the coin for fiat due to the current market trend.
https://whale-alert.io/transaction/bitcoin/5b6bc2368138c2cb40126f041b90b3d0730d8feb11edf9384a00115087cf3245
https://whale-alert.io/transaction/bitcoin/329d7d1f176448635cd87bac7faa6636274d9e933c1a31192538ea34c0d4dd8b
https://whale-alert.io/transaction/bitcoin/8044b72a597ae6d80e0d833360566b7da126794501fc0072223669ca9ea50fdb
https://whale-alert.io/transaction/bitcoin/aa7565957b1dd79ee926fc2b6a88994507ddc2d126f44ef2e8b2224c17a1c157

Quote from: Bill Gates on July 28, 2020, 03:21:09 PM

I'll be surprised if they don't mix it before taking it to some exchange wallet.

There's no way the hacker won't mix the coins before cashing out for fiat cause i believe they are aware that their wallet is already tagged for scam and also noticed.

Topic: Bitfinex hacks BTC are on the moved - page 3. (Read 668 times)