Why are Bitcoin hackers not being caught (Hackers making millions from Bitcoin)

08/18/2023 05:40 • Tech Trends • 53 views

Why are Bitcoin hackers not being caught? According to CCN, the US Department of Justice (DOJ) arrested a Russian hacker named “BitcoinMonetaryHacker” in September of last year. He was charged with telecommunications fraud, stealing Bitcoin, cash, and other cryptocurrencies. It is reported that the criminal group used its unique software vulnerabilities to send ransom messages to multiple victims and make profits. However, they ultimately failed to capture the hacker or his team.

According to the “2018 Internet Security Report,” more than 300 cyber attacks on cryptocurrency exchanges occurred in China from January to the end of December 2017. The largest attack was the Bitcoin lightning loan attack that started at the end of 2017. In early 2018, there were nearly 400 large-scale fraudulent cases involving blockchain technology worldwide.

Hackers making millions from Bitcoin

According to CCN, data from the US National Institute of Standards and Technology (NIST) shows that the number of global hacker attacks in the first half of 2017 had reached 20,000. Statistics show that as of June 30, 2018, approximately $50 million worth of Bitcoin had been stolen. According to CNBC, at least 10 cryptocurrency exchanges have been attacked and shut down, with two of them being significantly affected – Huobi, Poloniex, and Bithumb – although these companies have not disclosed the exact amount of loss.

It is reported that hackers convert the profitable cryptocurrency obtained through mining into fiat digital currency in exchange for virtual currency. Due to its hidden nature in digital currency, hackers often unintentionally gain a large amount of profits. When users open computer software or browsers, the system will modify the encrypted contents in their accounts, resulting in funds unable to enter that platform.

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Why are Bitcoin hackers not being caught (Hackers making millions from Bitcoin)

Hackers making millions from Bitcoin

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