Post
Topic
Board Bitcoin Discussion
Re: Why do hackers steal huge amounts of bitcoins?
by
meanwords
on 27/07/2020, 02:06:08 UTC
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.

maybe this is the point where most people hate banks (without much sense in my opinion) if they are convinced that the cryptocurrency system is also very broken in this part, hackers know that stealing cryptocurrencies is something much more advantageous than stealing fiat in the bank where you have security cameras and always have a witness and even if it takes many years, eventually the thief will be found, while in the case of stealing any exchange there is little and no chance of being found. That is why I believe that anyone who has money on exchanges (just like me) should not sleep soundly ... this is the great disadvantage of the decentralized world of cryptocurrencies.

But of course with KYC on all exchanges it might be possible to have a more secure system capable of finding hackers, but there are mixers that, although the intent of the mixers' creators are good (I think) help the hackers in some way and escape with stolen bitcoins


This happened because they are using centralized exchanges, it's not the disadvantage of "the decentralized world of cryptocurrencies". There's a lot of ways to secure your coins while still avoiding using this kind of services. Use decentralized exchanges, local exchanges, or exchanges with another person. Don't trust centralized exchanges as it is susceptible to hacking and you don't really own your cryptocurrency that way.

Stealing the cryptocurrency itself is next to impossible.