How is cryptocurrency "stolen?"

I'm wondering, especially with recent events, how is cryptocurrency stolen?  Do they steal your private keys?  Or do they force a ledger to transfer money from one wallet to another?  It's not entirely clear to me.  Can you point me in the right direction?
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Lucas BishopClick TrackerCommented:
Many different ways. The recent hack of Coincheck occurred because the company's hot wallet was able to be compromised. Basically the account that holds all of a certain currency type was hacked and all of the funds in it were transferred out.
Dr. KlahnPrincipal Software EngineerCommented:
To expand on what Lucas has said:

Once you have the hot crypto ...

Transfer all the stolen crypto out to a virgin wallet.  Then quickly deposit the stolen crypto into an exchange, sell the stolen crypto leaving somebody else holding the bag, and use the resulting fiat or BTC to buy Monero or other untraceable-when-used crypto.  Transfer the Monero out into another virgin wallet.  Route all transactions through multiple VPNs, proxies and Tor.

Do this two or three times and the resulting crypto is pretty much clean for later use.  Sure, they take a loss of 1 to 2 percent on it at every transaction, but they stole it to begin with so who cares?  "Cost of doing business."

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