Topic: Exchange Hacked - Thief Caught? - page 2. (Read 906 times)
I don't get information about that. but I got news about crypto fraud. like the Belgian government caught a team involved in Onecoin. that coin has a ponzi concept. and it is very dangerous to harm many people.
From the observations I have made on Exchange platforms been hacked, most often hackers responsible for the hack are normally not caught. In as much that transactions made by the hackers are been traced, majority of these transactions trace led to a dead end. Considering the recent hack on the binance exchange platform, the wallet containing the stolen Bitcoin has all the transactions made but its difficult to trace and identify the hackers behind the hack.
In most cases it's almost impossible to catch the hacker because they are smart and know how to do their job so that no one can trace them. There have been cases where hackers have been caught after hacking something but that's something that rarely happens and it's usually when talking about a small hack where they are not so careful anymore.
Can those hackers who steal coins from online wallets be identified and arrested? Any news before that anybody were arrested?
Those hackers rarely get identified or arrested, They're good at laundering or hiding the hacked coins. There are only few cases where hackers have been caught and jailed. The much safer way to protect ourselves is to go fully decentralized. Totally agree with you, but sometime they are caught becasue of their inability to cover their tracks after carryout their hacks. One thing is to hack, and another is to clean up the environment without any trace, if there is/are trace, then they will be caught and jail or be arrested.
I think that if, it is taken as a computer crime and that has its penalty at the level of laws, I believe that worldwide in any country can be judged under undue use of capital that are foreign.
I think everything changes when it is discovered that the hacker or thief is located via IP and the FBI is looking for him, because it is more secure to impose the charges, but I think that if they should be arrested, so far I have not seen any thieves. bitcoin behind bars, but there have been many robberies that have caused this economy and everything is because they leave some traces in some places, such as addresses, that is why many people prefer to be always anonymous.
I think everything changes when it is discovered that the hacker or thief is located via IP and the FBI is looking for him, because it is more secure to impose the charges, but I think that if they should be arrested, so far I have not seen any thieves. bitcoin behind bars, but there have been many robberies that have caused this economy and everything is because they leave some traces in some places, such as addresses, that is why many people prefer to be always anonymous.
Can those hackers who steal coins from online wallets be identified and arrested? Any news before that anybody were arrested?
Those hackers rarely get identified or arrested, They're good at laundering or hiding the hacked coins. There are only few cases where hackers have been caught and jailed. The much safer way to protect ourselves is to go fully decentralized.
I'm not sure they can be arrested. the exchange breaker syndicate has operated often but as far as I know no one has succeeded in arresting them.
in my opinion I'm sure they are very organized, teamwork, they are very good in removing wallet and coin traces.
but it is not impossible that one day they will be caught, and take responsibility for their actions.
in my opinion I'm sure they are very organized, teamwork, they are very good in removing wallet and coin traces.
but it is not impossible that one day they will be caught, and take responsibility for their actions.
If they are caught, I think it defiles the purpose of cryptocurrency that is being anonymous. However, most hackers are smart enough to avoid leaving any form of trace back in a case of successful hack.
Satoshi never claimed that Bitcoin is 100% anonymous, when he invented it in 2009. If that was the case, then why all the transactions are stored in the Blockchain? But even then, complete anonymity is possible as long as you are not converting your Bitcoins to fiat. If fiat is not involved, then no once can trace your Bitcoin wallet back to you.
The hackers will be caught, sooner or later. They are greedy and they would be looking forward to cashout their coins. At some point the authorities will be able to link a fiat bank account with the wallets they are using.
Even if the hackers are caught, the victims may need to wait for a few years to see any of their hard earned coins again. Look at what happened to Mt Gox. Out of the BTC850,000 that was stolen, around BTC200,000 was recovered. But rather than refunding this amount to the exchange users, the bankruptcy authorities used it to fund the legal process and then converted a large part of this stash to fiat at very low prices. But this process has been going on for 5 years and it may take another 2-4 years before the users get any sort of a refund.
In my few years in crypto, with all the exchange that has been hacked over a period of time, never have i heard where the hackers involved where cut, this is one of downside of blockchain, things are not as transparent as it is outside the blockchain, it is nearly impossible to be able to trace those wallet to any identity, as much as it would be great to apprehend the culprit, unfortunately it looks impossible.
But hackers are not the thing that worries me but the behaviour of exchanges. Do they refund their users in case of hacking and in what extend they protect their users. This is still the field that is not regulated enough and in most cases it depends of exchange's good will.
goodwill matters, but the most important thing is operating reserves. if an exchange already has the money to compensate users, they can quickly recover and go on, business as usual. it should only take binance a couple months to recover from this.
futures exchanges have always had insurance funds in case of oversized liquidations the book can't handle. this comes from commissions charged to traders. same thing within binance in this case---a portion of their operating profits from commissions was held in reserve (rather than paid out as dividends/profits to shareholders). coinbase has another approach, which is an actual insurance policy on their online funds.
it's vital that exchanges hold insurance/reserves above and beyond their hot wallet exposure because all exchanges can eventually be hacked. exchanges that fail to do so will go the way of cryptopia, unable to compensate their customers and therefore unable to recover.
If they are caught, I think it defiles the purpose of cryptocurrency that is being anonymous. However, most hackers are smart enough to avoid leaving any form of trace back in a case of successful hack.
Can those hackers who steal coins from online wallets be identified and arrested? Any news before that anybody were arrested?
Cryptocurrencies aren't so easy to trace but If ever someone is caught, this could either be a chance for the exchange to use these guys services to help test and fix the weaknesses of the platform or choose to get this person punished if found guilty by the courts.The authorities studied enough to be good at catching those people so it is a yes for me.
Catching criminals is not easy because some criminals are slick . Authorities were only good at catching criminals offline because they can find evidence easily while its hard to hunt for criminals online because there are alot of tools that a criminal can use to hide its identity Quote
The authorities won't stop until they can finish all the cases given to them.
authorities are only humans they are not robots , they also feel tired . Some cases cant be solved and will only be considered as a closed cased if if its really hard to solved . 
The authorities studied enough to be good at catching those people so it is a yes for me.
There will always a moment where the criminals would make a move to make them caught. The authorities won't stop until they can finish all the cases given to them. Also, the authorities do their best to improve and develop the security of their people. So sooner or later, hackers will not be able to run with them.
There will always a moment where the criminals would make a move to make them caught. The authorities won't stop until they can finish all the cases given to them. Also, the authorities do their best to improve and develop the security of their people. So sooner or later, hackers will not be able to run with them.
Not all were caught, they are aware they can be caught if they left traces so they will try not to leave traces to escape all these. Most of them got away. There some assumptions that the exchange themselves are hacking themselves but then this is hard to prove which is why a lot of the bitcoin users will just advice not to put your coins to them, this has been told over and over.
Everyone is making mistakes, so the hacker too and sooner or later they will be caught. But hackers are not the thing that worries me but the behaviour of exchanges. Do they refund their users in case of hacking and in what extend they protect their users. This is still the field that is not regulated enough and in most cases it depends of exchange's good will.
Exchange hacked is in the news again after the Binance's $40M BTC get stolen and due to regulatory consequences hackers are still out with money and the traders and exchanges are suffering.
Not all were caught, they are aware they can be caught if they left traces so they will try not to leave traces to escape all these. Most of them got away. There some assumptions that the exchange themselves are hacking themselves but then this is hard to prove which is why a lot of the bitcoin users will just advice not to put your coins to them, this has been told over and over.
Can those hackers who steal coins from online wallets be identified and arrested? Any news before that anybody were arrested?
Yes, there are some incidents of hacker stealing crypto being brought to Justice and plenty more where they walk free with pride and money. And in some instances, they were able to bring back the stolen funds without getting the hackers.
Can those hackers who steal coins from online wallets be identified and arrested? Any news before that anybody were arrested?
We cannot find information and arrest hackers because they have taken advantage of the Blockchain's anonymity to avoid arrested after criminal acts. We need to improve security against hackers and need a team of Altcoin platforms when they move the token to where they keep. Freezing all Altcoin that they stole will make them unable to use them, this is the most optimal measure at the moment. Jump to: