Topic: Why do hackers steal huge amounts of bitcoins? - page 5. (Read 1189 times)

This is the reason why some mixers got the reputation of mixing ill gotten bitcoins. But that's the purpose of mixers, anonymity at its best. But if you are a user who wants to use this kind of service, better use the known and reputable bitcoin mixer, because a lot of them are scammers. The first time you use, you can still get your coins but the second time, they won't release it.

Yea not happening. If it were in the real world where data was kept in physical records, possibly, since there are thousands of records that could be added monthly and so, such record may just be buried, but since it's stored on the internet where if you know how to, can be simply looked up, letting it rot for a long time isn't a solution.

Even if they do use it in its form as BTC, they'd still be traceable you know? And afaik, exchanges blacklist said marked wallets so that they aren't able to use their services. As for e-commerce stores that accept BTC, they also probably have some sort of setup for that, and even if they don't, there'd be more of it in the future.

And that's why there are trusted mixers out there. They basically ask for a fee when mixing your coins, making quite a profit in the long run. Ofc, there are mixers that are scams, but mixers have been out there for a long time already that you can already look up those trusted and those that are not.

Easy money.

This money can be used either for good or for bad purposes depending on the hackers but most likely for bad purposes. In this case, the hackers will just use mixing services and it is good to go already. Now the question is if the receiving address does have previous transactions from different addresses to because it can be a loophole for the hackers since they can trace it.

Either way, numerous Bitcoin scams and hacks have happened within the past years. These are just a proofs that we must be more secure when we are holding huge amounts of Bitcoins.

Usually, these hackers throw them to mixers so they will be leaving no tracks. And thay point, obviously the price of bitcoin will be affected like the talks of the past dump last month. We can't really say it is mainly because of those hackers but still, with a lot of bitcoins to dump to a mixer, that would leave a mark.

Frankly, the answer to the question was really very simple. A hacker or even a scammer do steal a big bunch of Bitcoin from other people's account because they do want to obtain easy money for their own use and the only possible thing that they think to make it as fast as possible is to do it on an illegal and with a criminal's big move. Since many are really wanting to have Bitcoin and even other cryptocurrencies because of their value, many are turning out to be criminals just to make impossible thing of obtaining cryptocurrencies that instant into a possible thing by doing scamming or hacking.

Big time hackers will not leave any trace or footprints of the crime he make. Only newbies or those that who doesn't really know what they are doing are the ones that are easily track down because of obvious acts they have made. For sure, it takes a lot of courage and effort for the hacker to plan how he will going to execute everything to achieve his goal and will do all to the extent so that he won't get caught for such an act. It was too dumb if you will just hack a big amount of Bitcoin and you would just let yourself be tracked down and get caught easily. For sure those that can attain to do big works are already professional into that field and have the courage to do that.

This is your assumption that the hackers wants to convert them to FIAT. Those who does hacks have months of planning before they hack they have all the things in-line, They have people who can buy btc from them. The hackers can also buy things from bitcoins anonymously time by time and sell them. They can do a lot from these kind of big hacks. Also if a hacker is risking then he will go for big not for a coin or 2.

And about the footprints I have never seen some bitcoin hacker got arrested, Stay safe!

TEX-LXRY

Few things to keep in mind :

1. They can use wallets which do not need KYC
2. Use mixing services
3. Make many loops which would make it difficult to track
4. Most Governments won't bother with Bitcoins much and send you a warning how you shouldn't have used it , but there are Countries where now they are a protected assets
5. People even use Bitcoin ATM's to scam people which makes it way harder to track .

It's not difficult but it's hard plus most people employed by the government needs to be efficient in tracking down the cryptocurrencies and such , therefore it does have many downsides .

Plus people think that they are super private but privacy does depend on number of factors like your wallet company, from where and how you are receiving or sending , is KYC necessary ? There are many factors to consider.

Also once you begin hacking, scamming and stealing, you don't stop. Those people who did it once will keep on trying and one day someone will find them and get it all back.
 
DPR knew they were after him, they even knocked on his door and asked him a few questions without knowing who they were talking to and he did not run. He kept living in the same apartment and going to the same library to work on his marketplace.


About stupid thieves

https://brnodaily.com/2017/10/12/breaking-news/czech-man-sent-to-prison-for-stealing-bitcoins/

That guy was caught because when he stole those coins he bought houses for himself and his parents.

THere are more cases like that one all over the internet.

Money has always been motivation. Scammers and robbers also have the same motivation, its always been the money. And every one of them thinks they can get away with what they do. Some of them may actually do but with the help of pros, they'd be apprehended.

Cashaa hacker wasted time since he can't get it nad exchanges today will have it frozen if sent to them. He had proven his hacking skills though.

They do it for money.

Trying to test the system or proving something....  .

Most of the attacks could have been made by someone who aren't even a hacker but just a little developper or script kiddie with a bit of determination.


Officer: "Why did you stole bitcoin from people ? "

SK: "I was just trying the system bruh    pentesting Bitcoin against giveaways scams"

I guess transactions could be traced in the blockchain and you could probably trace it the scam funds are already moved somewhere.

But I guess they could easily use some bitcoin mixer to hide every transaction and also even if the transaction could be trace probably we don't really know the locations of this scammers, they are probably not in your country so it's gonna difficult to find them and report them to the authorities so they are just going to continue hacking bitcoin if it is easy to earn some bitcoin in there.

I think you already know why they hack huge amount and not just some tiny amount on a single address. They hack because they know they won't get caught as long as they know how to clean Bitcoin through mixer and nobody's going to suspect that it was them. That's quite an easy money and I believe it is not done by a single person since most of hacking that I know is either inside job or planned carefully for months or years before they attempt to do it.

Why should hacker steal? Because they are hacker that want to get rich instantly from the funds and wealth of others.
Even in a long time they can't hide from the authority because they have a case. Even they keep bitcoin in a long term,it will be traced. Wherever they go and hide i'm sure the authority will find them. Always remember "No one can Escape".

Why wouldn't they? They are hackers. Someone being careless about their coins and the hackers wouldn't mind taking it. They find vulnerabilities on exchanges and they use it for their own benefit. They are making easy money from it.They don't have the same "frame of mind" like us. They don't differentiate or can't differentiate between what is right or wrong. They don't have any morals and don't actually care about being low. So easy money is one of the reason why they do this.

And like others said, they can use mixers to obscure their transactions. They can even spend it on something else like buying stuffs with bitcoin where they don't need to provide ID and later sell those stuffs.

Once again the vulnerability comes to light, the interesting thing is that the CEOs of the top of the exchanges have joined forces to prevent the hacker from claiming Bitcoin. Attacks are happening very often we must be alert and safe. Fortunately we are noticing that exchanges are reordering security systems.

With a mixer, the hacker can obfuscate their identity before using the service. The mixer will attempt to break the linkage between the coins that were sent to them and the coins that are sent to the destination address. It's not a foolproof way but it is able to make your coins untraceable to a good percentage. If done correctly, there shouldn't be an easy way to prove that the coins were once from an X hack for example.
To complement the idea that Bitcoin should help with the user's privacy. Mixer breaks the linkage of the coins and outsiders won't be able to track where the coins came from. This helps to obscure the user's spending habits for example.

When robbers go to bank, they don't really have amount they want to steal before they left for robbery. They still as many as they can and part of the reason why they are being caught. The same thing apply to hackers. They hack accounts and ones they see huge amount of btc, they become nervous to steal everything. Crime charges very from country to country, while some country might have a long jail term for this act, some might not depending on the scenario and how much the criminal is ready to corporate

I would agree with this. They won't have the courage to steal a huge amount of bitcoin if they don't know what to do and how to escape from it without getting traced. Also, they are smart and they know what they are doing, as well as the consequences of stealing huge funds.

It's just like the same as how others steal money. They have their plans (like what others have mentioned) before doing something like that. They won't steal if they don't know what to do. They are hackers after all others have the knowledge and skills to escape.

All of those things that violates the law are illegal, and stealing the money that you didn't worked hard for is clearly unauthorized.


One of the reason why people are keep on stealing other people's btc is because, most of the authorities can't track them easily. Their effort is not enough to locate and find those hackers so that they will become accountable for the crime that they commit. We all know that no one is above the law, but they are making good escape after they steal a lot of money. We just need to become more careful about our assets because in reality, if the authority will not do their best to stop those hackings, we will live in this life where they will continuously do that .

Maybe, they steal bitcoin because they can't work so hard or their patience is not that strong to start an investment to engage in using bitcoin.

For me, I think that's the reason why they are doing those scamming and hacking incidents in most of the platforms where people are accessing their bitcoins. Those hackers are not effective in growing money with themselves and they want instant money. That's the reason why people are keep on hacking bitcoin because the definition of bitcoin for them is that it is a quick rich scheme where they don't need to deal with the market with their own manipulation, they will just have a bitcoin instantly.