Exchange Hacked - Thief Caught?

[shesheboy]

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 

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  .

[roosbit]

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.

[Romeoetin]

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.

[figmentofmyass]

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.

[Anonylz]

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.

[Sithara007]

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.

[Netnox]

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.

[Apes]

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.

[LuckyBtc]

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.

[LUCKMCFLY]

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.

[proTECH77]

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.

[MakeMoneyBtc]

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.

[minersday]

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.

[Cuk0ng_bitc0in]

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.

[raden1922]

So far I have never heard directly about the arrest of a thief who hacked an exchange account or wallet. I hope the thieves will be arrested and processed legally, because hacking is very detrimental and disturbing. Don't give space to the hacker's account and stay alert to any fraudulent mode. After hearing news about hacking at binance, I will continue to be more careful.

[Nellayar]

It seems like cryptopia is that exchange. lol. But I found some news that cryptopia hackers also withdraw the 2000 ethereum recently. I do not know if that news is legit or not. I just saw it from the telegram. However, it is good to see that those thieves were in vain. And they must be! Since many small investors and traders are affected. They must be caught and punished so that no one will do it the same thing.

[mitchr4]

For these hackers there is no doubt about their greatness in hacking one of the big Exchange. They are certainly smart and won't leave a trace though. Moreover, they take huge amounts of money. There will be punishment for these hackers if found out. And I think they won't be negligent in doing the action. I think the exchange will not make compensation for its users, which is why don't store money on exchanges.

[ccryptopark]

They would need to have compliance implemented into their exchange. AML companies like ciphertrace can work together with KYC firms to identify the location of the wallet and over time the who

[Lily_Olive]

Yeah may be some are arrested i am not sure, but it is very  difficult  to find  out any unauthorized  person..  because they do their work very secretly and they are very clever.. very hard to identify them. They used many softwares which we think usable but indeed they are useless..hope so they must caught..

[Nanagyasi]

I'm yet to see one happening. It will be very difficult to trace and arrest these culprits. They are definitely too smart and genius in what they do so it will be very hard. We hope one of these days, they identify one and arrest a hacker