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Is it possible to track where the money goes from the hackers account onwards? Or is then opaque? How easy will it be for the hacker to move the funds around so
by PhilWright 9y ago
Is it possible to track where the money goes from the hackers account onwards? Or is then opaque? How easy will it be for the hacker to move the funds around so it cannot be traced back to the theft?
- nileshtrivedi 9y agoA transaction can have multiple inputs and multiple outputs. And there are contracts that do the mixing up of transactions to provide privacy to users. So, like counterfeit notes, these funds will eventually be untraceable.
- davidgerard 9y agoIt is, but it turns out exchanges don't actually care. Bitcoins from the Bitfinex hack are slowly being dumped on exchanges, for example. It's like someone rocked up to a bank with a big duffelbag full of dye-stained notes known to have been stolen from another bank, and went "no worries lol".
- shawabawa3 9y agoWell, it's unlikely the coins when straight from the hack accounts to the exchange accounts (they might have, i'm not sure in this case) The coins just have to go through a single intermediate account for there to be doubt that the hacker still owns them
- davidgerard 9y agoyeah. Cryptocurrencies are prosecution futures, but only if law enforcement actually cares to do the considerable tedious legwork.