What is it behind so much hacking and theft in the Criptocurrency world?

The other day almost by chance, looking for some things online, I came to an article about a hack that there are so many, in an exchange house in Hong Kong, Okex, in which they “lost” 3 million dollars.

The fact is that this is so common that it no longer surprises anyone.

It seems to be the daily bread.

The issue here is that this time there was something that caught my attention on the cover of that article, as it said “police not interested.”

What kind of police is not interested?

Are those who wrote the article, the representatives of Okex or the same clients victims of the crime, joking?

Theft of cryptocurrencies

Actually it’s not that I did not know how rotten that “niche” of cryptocurrencies and hacks is that it seems to work so well, for hackers, I say, since it seems they almost never get “caught”.

That detail, “never caught”, and things like this “police is not interested” and similar things, wake up in me a pretty big suspicion that there is a very high probability that we are facing a much more sinister issue : that of “white glove” thiefs that is so prevalent today, especially with the advent of the “cyber” world.

Before continuing, comment that, in addition, the exchange house, in the aforementioned case, invites affected customers to call the police by themselves.

Imagine that your money in the bank is stolen one day by some sausages that assault a branch and when you go to the bank they tell you that you have to report yourself and that they do not know anything about anything, nor do they want to know either.

Moreover, when you go to the police they will tell you: “We have no evidence or clues”, “put your complaint and pray a little”.

Give a little laugh, right?

Anyhow.

Why are there so many cryptocurrencies hacked?

The issue of hacking in cryptocurrency houses is a well-known issue for those who have experience in this sector, because we can say without fear of making mistakes, that there is no house that is free from having been hacked to steal some “coins”.

Who does not remember the hacks on Mt Gox, not to mention the indescribable collapse of the crypto world giant, which took hundreds of millions of dollars ahead?

Or how about Ponzi schemes like Bitcoin Savings and Trust?

If we go to the “beginnings” of this hacking catastrophe we can find cases such as Allinvain, a member of a Bitcoin forum, who suffered a theft of 25,000 coins, valued at $ 500,000.

The cases are countless. They would give to write dozens of books.

One of the latest and most notorious is the theft of more than 500 million dollars of cryptocurrencies in a Japanese house, Coinchek.

500 million dollars?

Are you kidding?

Do I want to believe that from places like Mt. Gox, or this, disappeared those monstrous amounts of money and the same people responsible for these companies, which have their own hackers, cannot find those responsible?

And what do they tell me about the world elites, which have almost absolute control over the global “online network”?

Do you want to tell me that they cannot “locate” where the robberies come from and where they go?

Moreover, if you realize, many of these exchange houses, such as Poloniex (Goldman Sachs) have relationships with the most important financial and technological companies in the world.

Will not they make me believe that if Goldman Sachs or Google want to find someone online they will not get it?

Do you really believe that the network is a place where we can go without a trace completely?

You can be sure not.

Another important case was that of Poloniex, another of the giants – they have all been hacked, without exception – by the sector, which lost 12.3% of its reserves due to an attack due to an error in “coding” (programming code).

If some important person disappeared several million dollars from an account of these we can be sure that it would be with the whereabouts of those responsible.

Here, the problem is that we are assuming that there are mythical hackers capable of eliminating billions of dollars online and then downloading them to spend on the beaches of the Caribbean.

That is what everyone believes.

However, if you look closely at the article that I mentioned above about the Okex case, with the misunderstanding of the company, or others like the MtGox scandals or any of the other exchange houses, it seems that there is a veil in the matter. Almost as if we were dealing with the corrupt Irish police of the “Alienist”, interested in protecting certain interests.

Honestly, the whole thing smells pretty bad.

I do not say that on the internet you cannot make hacks and steal money and cryptocurrencies here and there, but it does not matter that we have such a large scale of hacking (thefts) and that you never find those responsible.

The amounts we are talking about are really scandalous. In fact, as we see a clubhouse article, no less than 14% of the volume of cryptocurrencies has been stolen.

14%?

I would not be surprised, because among the cases that I see of “hacking”, “ponzi schemes”, “scam growths”, “bankruptcy of Mt. Gox”, etc., we could have a number like this or even higher. If with the case of the bankruptcy of Mt. Gox, a huge amount of money disappeared; of the clients, of course, because I do not think the owners would disappear much.

Well, here comes the first of the questions that is complicated to understand, but after seeing how the subject is in the online world, you just understand why.

That is, why are so many people putting their savings and buying cryptocurrencies in these exchange houses, when there are scandals of robberies and hacking almost every day?

Honestly, looking at the picture and despite the potential for this bubble to rise, I would think twice before putting significant amounts in one of these houses that have already admitted to being hacked.

What is more, the way in which they have handled such hacks, with their answers in plan: “sorry”, “get your life”; does not encourage me to put any money in them.

However, the greed of the people and the desire to earn money as the “neighbor” are so great that it is not difficult to find countless customers for a well-assembled money swallowing system.

We’ll see.

For example, the case of the Japanese house that says they have been stolen cryptocurrencies valued at 500 million dollars.

Come on, 500 million won like that, with giving a few buttons is something very appetizing, right?

What that company earns per year is crap compared to that. That’s the money that many of the big companies in the world earn every year, with more effort than pushing a button, of course.

This is where the dark business of the affair comes.

Who are the hackers who steal cryptocurrencies?

Do not you think that we could be faced with a monumental scam by many of these exchange houses, which in collaboration with “hackers”, are emptying the accounts of their clients to become rich?

If we look at the data of these robberies that have occurred, it has quite simple parameters:

  • Many cryptocurrencies have disappeared due to an “error in the code” or because of “security errors x and x”, etc. (everything sounds very technical and complex, so that clients are absorbed).
  • We do not know anything about hackers. Impossible to locate them
  • Get your life, “carry on and shut up”
  • Goodbye to your money. Thank you very much

The pattern is very simple for robberies of such large quantities.

That’s not how it works.

Moreover, these “hacks” take place, mostly, when the price of cryptocurrencies is rising or has gone up a lot.

I am going to tell you a trick that surely they have used some of these houses and that they will use.

If the market is dead or moves little, up and down, there is no lack of many “hacks”, the investors will lose money operating with their cryptocurrencies anyway.

If the market rises like foam and becomes “asymmetrical”, then what better than a “hack” since we cannot really pay the money that these customers have in such “overpriced” cryptocoins?

Do you think that what I am telling does not make sense or that it is crazy?

Rather it is a paradox, which tells us that to a greater degree of complexity in the system, it is easier to steal in a “complex” way as well. Way that in the end is the same old trick of a lifetime give me the money and run. And in the end that’s what gives me the feeling that many of these houses do. They are insatiable machines to swallow money that offer a “digital” product and in which we do not know what is happening with our money.

Let’s see, the fact that we open an account in one of these houses and that we start buying Bitcoins in your system does not mean that the transactions are actually taking place. Everything could well be a “demo” system but nothing guarantees you that you are negotiating a “real asset”.

Of course, if you go a little further you realize that these are the dangers of negotiating with digital assets: that in the end you are negotiating with virtual money; and of course, the denomination is telling you it is clearer than water.

Let’s say that surely there are houses where the hacks have been genuine, but I bet that more than one has followed the scheme I just described above.

Of course, this cryptocurrency is an incredible machine to make easy money.

Greetings and good trading

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