Because they try to steal as much as possible before they are arrested. What surprises you?
Well, if you are really a smart. I think stealing of few is better than stealing a lot. It might become your endpoint once the authorities will look at you. Stealing few money is not much interested to the public. But if it arise from hundred million dollars, assume that you have only a month before you will be tracked. Unless, you have no evidences left to the scene. Now, this is the reason why OP surprised. Because you can made some money by hacking without being arrested. You just stole few. Well, either it is few or lot. It is bad to do things like this. Hell is waiting for hackers. 
Topic: Why do hackers steal huge amounts of bitcoins? (Read 1189 times)
The stealing hackers don't necessarily have to convert their stolen funds directly into fiat. They are probably smart enough to avoid that. Another thing is who is watching?? Who will be watching if the hackers leave the stolen funds in peace for a number of months or even years, probably noone is watching.
Because they try to steal as much as possible before they are arrested. What surprises you?
The reason why OP posted this question to know the possible reason for a hacker to steal a huge amount even if they can't convert it to fiat without leaving a trace.
For me, this is a nice question. I also wonder about their true reason. But my guess is just like other criminals. They want to steal as many as possible, or they want many bitcoin for trial and error in converting it to fiat? I can't think of any other reason.
Black hat hackers are very sneaky. If they are at the level which they can do this kind of damage they most likely know how to "roll their bounties" so they are not exposed.
Mixers are one tool and maybe they have a network of "agents" who are getting a share to exchange the BTC through various means. Or DEXes.. There are now so many ways to move the BTC, but of course there is a certain risk of being tracked as always. I guess it is just worth it for them.
Mixers are one tool and maybe they have a network of "agents" who are getting a share to exchange the BTC through various means. Or DEXes.. There are now so many ways to move the BTC, but of course there is a certain risk of being tracked as always. I guess it is just worth it for them.
I don't think the hacker are stupid and have no knowledge of how they should hide all those looted asset and sell them without being identified. Too many cases go by without anyone being caught for hacking. I think they have good facilities to hide and disguise everything and they will be safe from the authorities.
just like in real world, you have successful robberies and unsuccessful one
that is the same with hacking, you have successful hack, with hackers taking a large amount of money, and you have unsuccessful one as well, it is usual connected to hackers abilities, but small things could help to detain hackers as well, you never know where they will fall
it is the same with scams, with scams that are well organized and prepared having more chances to success in taking money from people, but you have many lazy and unsuccessful scams as well
There have been thousands of exchange hacks and other robberies till date in the cryptocurrency sector. In how many cases, the perpetrators were caught and the funds were recovered? We had the Mt Gox hack more than 6 years back. Till now, not a single penny have been recovered and none of the thieves have been caught. The same can be said about those who hacked Cryptopia and other exchanges. Perhaps this is the reason why criminals continue to target cryptocurrency-related businesses.
I don't think the hacker are stupid and have no knowledge of how they should hide all those looted asset and sell them without being identified. Too many cases go by without anyone being caught for hacking. I think they have good facilities to hide and disguise everything and they will be safe from the authorities.The hacking attempt is very well done and take a long time. It would be futile if the hacker did not target a large number because it was not worth their hard work and patience. But whatever, I never forgive those who have committed crime against innocent people.
Bitcoin has its own advantages and disadvantages. Unfortunately some of its major advantages can be its demerit as well. For example, it is very difficult to trace Bitcoin unless the user converts it to fiat using any of the exchanges or platforms. In case the mixers are used, then it becomes almost impossible to trace the transactions. The hackers are using this disadvantage to stay hidden from the authorities.
I was reading about Cashaa, that was hacked and 336BTC were stolen. But the hacker can't move them right? He will leave footprints. So why should hackers steal them since they can be found? For example if they want to convert them to fiat.
in this part some uses Bitcoin mixer or mixing company,But sometimes this hackers are just a player in which Inside Job is the real issue.they will hack the amount and will let it in the wallet for long until its forgotten lol.
The only way I think you could get by from this felony is to keep them on very long term. So long that it may be forgotten. But still, it may.
Hackers are attracted to honey pots (large amount of Bitcoin).
Criminals will always continue to commit crimes.
Use open-source software like Wasabi, Samourai, Core, Electrum etc (always verify updates are legitimate through GitHub) & use a good hardware wallet like Cold Card, through a node your operate. If you exercise good practices, your chances of getting hacked are close to zero.
Also hackers could CoinJoin/Lightning their way to fiat, a lot don't seem to - which makes no sense. If you have the skills to hack, you should know basic privacy techniques...
Criminals will always continue to commit crimes.
Use open-source software like Wasabi, Samourai, Core, Electrum etc (always verify updates are legitimate through GitHub) & use a good hardware wallet like Cold Card, through a node your operate. If you exercise good practices, your chances of getting hacked are close to zero.
Also hackers could CoinJoin/Lightning their way to fiat, a lot don't seem to - which makes no sense. If you have the skills to hack, you should know basic privacy techniques...
They will probably split it up into many many small transactions and use many recipients to try to whitewash the entire stolen amount through time. That way it would be a huge task to puzzle it back together to the source.
They will probably also wait a while until people have lost interest before they start doing this.
They will probably also wait a while until people have lost interest before they start doing this.
There have been thousands of exchange hacks and other robberies till date in the cryptocurrency sector. In how many cases, the perpetrators were caught and the funds were recovered? We had the Mt Gox hack more than 6 years back. Till now, not a single penny have been recovered and none of the thieves have been caught. The same can be said about those who hacked Cryptopia and other exchanges. Perhaps this is the reason why criminals continue to target cryptocurrency-related businesses.
I think, A programmer or even a con artist do take a major bundle of Bitcoin from others' record since they would like to acquire pain free income for their own utilization and the main conceivable thing that they think to make it as quick as conceivable is to do it on an illicit and with a criminal's huge move. Since many are truly needing to have Bitcoin and significantly different cryptographic forms of money in light of their worth, many are ending up being hoodlums just to make unthinkable thing of acquiring digital currencies that moment into a potential thing by doing defrauding or hacking.
Big time programmers won't leave any follow or impressions of the wrongdoing he make.
Big time programmers won't leave any follow or impressions of the wrongdoing he make.
Because bitcoin is popular in many people and many people invest in bitcoin and so lot of user one of us is bussiness man/women that's why hackers steal huge amount in bitcoin cuz bitcoin has a huge money.
Hackers are highly passionate towards it, and go to any extent as they know how to stay anonymous. We may say it is possible to have track of the person, but this isn't happening with every hacker. One in ten gets tracked while the rest stay safe.
It is because there are also many ways how to get away with it. There are bitcoin mixers where it makes your stolen bitcoin untraceable when you transfer it to your main wallet. It is also complicated to chase these bitcoin thieves so most of the victims doesn't go all the way of these stuffs to track them.
What can user do is divide all his bitcoin to multiple wallets and secure them as much as possible.
Everyone is eager of making money. Hackers are one step above, because all that necessary is the celebration. When a hacker successfully hacks and stole some data or some data he'll be with heavenly feeling. Based on my knowledge about hackers, they just focus on large volume of fund hacks to show their potential.
Hackers are highly passionate towards it, and go to any extent as they know how to stay anonymous. We may say it is possible to have track of the person, but this isn't happening with every hacker. One in ten gets tracked while the rest stay safe.
^ You are definitely right, they are always waiting to take advantage just to hack people for easy money. That is right, just for money and any valuable thing could be hot into the eyes of theft and hackers belongs to that group, a theft on the internet. But if we are careful enough of our bitcoin holding we did not afraid of hackers. Double our security and should have knowledge on how to keep safe our crypto-asset not to steal by them. They are everywhere waiting to have a victim, don't be their next victim and should secure your assets in a better place. Nevertheless, those who have hacked in crypto are lack of knowledge. Hackers are highly passionate towards it, and go to any extent as they know how to stay anonymous. We may say it is possible to have track of the person, but this isn't happening with every hacker. One in ten gets tracked while the rest stay safe.
Everyone is eager of making money. Hackers are one step above, because all that necessary is the celebration. When a hacker successfully hacks and stole some data or some data he'll be with heavenly feeling. Based on my knowledge about hackers, they just focus on large volume of fund hacks to show their potential.
Hackers are highly passionate towards it, and go to any extent as they know how to stay anonymous. We may say it is possible to have track of the person, but this isn't happening with every hacker. One in ten gets tracked while the rest stay safe.
Hackers are highly passionate towards it, and go to any extent as they know how to stay anonymous. We may say it is possible to have track of the person, but this isn't happening with every hacker. One in ten gets tracked while the rest stay safe.
Hackers steal in BTC because it's the most valuable digital assets available. So, they target BTC most of the time. And loosing the bitcoin footprint is not so hard for them. There is many ways available. Using mixers and transactions in dark web can be solutions for them.
The bad guys steal bitcoins for their own good. Sometimes those thieves has personal matters and problems financially that needs to be solved that's why they are stealing coins instead of trading or mining to earn it because for them the easiest way to earn a great amount of coins is by stealing it though I understand them because we are all willing to take risk just most especially if we are talking about our families but stealing is really a bad thing that's we shouldn't tolerate this kind of habit.
Hackers steal in BTC because it's the most valuable digital assets available. So, they target BTC most of the time. And loosing the bitcoin footprint is not so hard for them. There is many ways available. Using mixers and transactions in dark web can be solutions for them.
The answer is obvious, they need large amount of money. In order to get that, they resulted to stealing bitcoin. Bitcoin is insanely high value, and can provide anonymous transactions history, which provide them added convenience. Even though nowadays there are methods to track bitcoin transactions, this lessen their efforts to become more covert.
I think the right question to ask is "how can they exchange the coins?" It seems they know it's possible and they know they can pull it off so they give it a try. It's hard to think anyone would take the risk of stealing coins without a foolproof plan.
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