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They do make tens of millions of dollars. 1. Most of the major criminal groups have turned their eyes toward crypto. It’s more lucrative than ransomware. See s
by jollofricepeas 4y ago
They do make tens of millions of dollars.
1. Most of the major criminal groups have turned their eyes toward crypto. It’s more lucrative than ransomware. See sources below for the huge lists of hacks and scams.
2. Not every group is in it for money. The major nation state attackers (besides North Korea) are in your system for information.
3. When you haven’t stolen money or a money equivalent, it can be extremely hard to fence the assets you’ve stolen.
SOURCES:
- https://blockworks.co/the-nine-largest-crypto-hacks-in-2022/ https://blockworks.co/the-nine-largest-crypto-hacks-in-2022/
- https://web3isgoinggreat.com/?id=day-of-defeat-project-rug-pulls-for-135-million https://web3isgoinggreat.com/?id=day-of-defeat-project-rug-p...
- _8j50 4y agoYes, #1 or #2 are a given/implied but many ransomware operators don't make that much money when they don't get paid and even their ransom isn't usually $1M+. You can use information to make money, ever heard of insider trading and extortion? Or straight up get on the treasury guy's pc and make payment transfers and approve purchasing orders to yourself. With operations like that, once they get it in a bank account they own, they pay mules to get it in cash in small chunks before the swift gets reversed, hopefully having multiple banks in the process will give them a week or more.
- fmajid 4y agoShort-selling would seem like a better way to make money from a breach: almost untraceable. Of course, if stock prices don't react to breaches, short-selling would not be profitable either.