How do hackers collect ransom money and not IMMEDIATELY get arrested?
In: Technology
Paid in crypto. From there that money could be transferred to any number of wallets around the world.
Many of them are located on places with lax police and get payment through crypto or gift cards.
As mentioned, by using a form of payment that can’t immediately be traced to any one specific recipient, thus at least temporarily evading the eyes of law enforcement.
They use crypto currency which can be transferred without the police having a way to find out to whom.
Crypto?
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not sure about regular laundering practices, but crypto is fairly straight forward. just convert it to monero and back. Its private transactions, so its all hidden.
Also stuff like samurai wallet exist to do that with bitcoin and stuff
Pentester here: there’s a couple of ways they do this:
1) they require payment in bitcoin. While not totally anonymous, they put it through a tumbler scheme to make tracing much more difficult.
2) they use stolen accounts to pay the money into and withdraw from, meaning the transactions are not associated with them.
3) they reside in countries that couldn’t give less of a fuck about extradition requests from the west (eg: China)
The world needs a Robin Hood of hackers. Nothing crazy just a little skim for the less fortunate. Paying for school lunches .
They use cryptocurrency, which is difficult to trace to a physical location.
I actually just learned today that there exist ransomware brokers who will evaluate the exposure risk of a company being ransomed to see how worth it it is to pay the ransom, and how much. These ransomware attacks happen quite a lot, so these brokers have formed working relationships with the attackers and can be like, listen, here’s how much it’s worth to this company to recover their data and prevent any leaks. So, you should probably lower your ransom demand, otherwise they’ll just put that money toward finding a technical fix to recover access to their systems or data or whatever.
It generally gets paid in a crypto that can’t be traced like monero. If they’re asking for a a tracable coin like bitcoin then they will be laundering through untraceable ones to allow them to cash out.
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