Topic: Why do hackers steal huge amounts of bitcoins? - page 7. (Read 1189 times)
hackers who steal bitcoins always have ways to launder money and leave no trace, they always calculate in advance, if they stole bitcoins to do nothing, they did not, there are doubts that hackers money laundering with eth transaction fee
If they are smart enough to steal those huge amounts, they are probably also smart enough to hide their tracks too.
I'd bet that they'll find a way to cash them out.
I'd bet that they'll find a way to cash them out.
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.
It is the Mixing company that hackers will Run because they can mix the bitcoin and will Hide them from being Pointed,or they can Use Gambling site to hide their identity ,Hackers have their own ways of taking the bitcoin.Quote
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.
And here you have answered your own question,so what would be the real question here?you have idea about what will hacker do?and besides bitcoin is better on HOlding so maybe these hackers are also investing for long term?anyway what does matter since it is really hard to take them down,many have tried but failure is what they've got.
336 BTC isn't that huge. Thieves will mix them many-many times, with various methods, then they might start moving some of the coins between services to make them look more clean, then they might launder them or find some way to cash them out without major exchanges. They could look for OTC trading, p2p trading, exchange services, ATMs with cash withdrawals, etc.
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I was reading about Cashaa, that was hacked and 336BTC were stolen. But the hacker can't move them right?
Hacker can easily move the stolen BTC though the wallet address used by the hacker will be tagged. Why do hacker steal huge amount of BTC? We cant really know their intentions but the number why thief steal is to make huge money quick.
He will leave footprints. So why should hackers steal them since they can be found?
It will only leave footprints if the hacker dont use bitcoin tumbler.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.
The only way to get by the felony is by exchange and wallet provided improve their security. 
So long that it may be forgotten.
No such thing. There are lots of people who monitor the addresses of known and significant hacks. It's no work involved in setting up an alert.
We still hear about coins moving years down the line. A thief would have to do something to hide the coins. Simply waiting and then moving them in the open would result in action against them waking up. I expect law enforcement would be doing the same and exchanges too.
They steal because they are criminals in the online world and there's no distinction between offline and online, they are still criminals in the eyes of the law.
There are ways to hide like others have said, tumbling services or bitcoin mixers. And those who breach twitter and pull a fake giveaways, they already used a service called Wasabi wallet - which is a privacy focused wallet.
There are ways to hide like others have said, tumbling services or bitcoin mixers. And those who breach twitter and pull a fake giveaways, they already used a service called Wasabi wallet - which is a privacy focused wallet.
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.
If there are no ways to use the funds why they will try to do so. Simple answer : hackers know the way to use the hacked funds , that's why they hack any centralized exchange try to do double spend attack on any blockchains. As @Mbitr said, they could use mixer to hide their identity. Also there might be a way to use the funds without converting to fiat currency which we don't know yet except the hacker community, IMO. If anyone want to know why they hack ,than he/she will need to think like hacker not like the hunter of a hacker. 
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.
That's where bitcoin mixer enter the picture, to obfuscate and conceal their tracks.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.
There are cases that most hack bitcoin are being move, it might take time for the hackers though, but definitely they will and they are going to find ways to cash it out and take the risk to enjoy their loot.
Note that most hacks happened in huge markets like bitfinex, binance, huobi and etc.
Little correction, huobi never got hacked till now [1]. But, I'm not say houbi is 100% safest exchanges... we can't know what next about this exchanges.I was reading about Cashaa, that was hacked and 336BTC were stolen. But the hacker can't move them right? He will leave footprints.
Nope, the funds has been moved to 1M22U5uYEGUV1QkxSwUecebRGPW6uQgjRz and 38tgyi9ZobWNg5zUpzfDd1u5J3uTqyUdB2 [2]Like anyone said above, bitcoin mixer will hide his identity and can't be traced.
[1] https://www.blockchain.com/btc/address/14RYUUaMW1shoxCav4znEh64xnTtL3a2Ek
[2] https://davidgerard.co.uk/blockchain/2017/11/22/correction-huobi-wasnt-hacked-in-2015-but-the-2015-bitstamp-hacker-did-withdraw-12000-btc-from-huobi/
For your question in the subject, they are doing that for the ”easy money.” I don't think they are willing to hack small amounts if the thing they are doing is complicated. And for your concerns that they can be traced, it's just like what the other members said above me; it's the mixers.
There was a time where there are a lot of mixers, but a lot has closed as well because of the track down of those mixers.
There was a time where there are a lot of mixers, but a lot has closed as well because of the track down of those mixers.
A mixer can be used to hide or disguise the bitcoin footprint ?
Exactly what I was going to say, you could put the coins through a mixer multiple times in batches. It should clean them up, you could sell a bunch P2P on Localbitcoins & nobody would be any wiser.
Indeed, hackers will leave footprints if they try to transfer funds from hacked account. More so to speak that they are targeting vulnerable funds; thus, susceptible for an attack.
However, most of these attacks were very successful that they can still managed to get btc and convert it into fiat. However, if there are individuals trying to hack, they would be very big and well funded. In addition, attacks through phising websites and application can be worth noting. Note that most hacks happened in huge markets like bitfinex, binance, huobi and etc. Recent event on twitter would not be considered a direct attack to btc, rather they are accumulating btc from scammed victims. Well, time will tell what made hackers do what they do. Are they trying to test the system of bitcoin or are they trying to proved something they are good about?
However, most of these attacks were very successful that they can still managed to get btc and convert it into fiat. However, if there are individuals trying to hack, they would be very big and well funded. In addition, attacks through phising websites and application can be worth noting. Note that most hacks happened in huge markets like bitfinex, binance, huobi and etc. Recent event on twitter would not be considered a direct attack to btc, rather they are accumulating btc from scammed victims. Well, time will tell what made hackers do what they do. Are they trying to test the system of bitcoin or are they trying to proved something they are good about?
A mixer can be used to hide or disguise the bitcoin footprint ?
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.
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.
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.
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