Bye-bye, $1.5 billion. Crypto gets bit by North Korean hackers. This should fund North Korean counterfeiting illicit drug operations and weapons purchases for the next decade or so. Isn't crypto wonderful? I wonder which U.S. president's watch this happened on? Probably need to cut government a little more and see what happens. It's being described as an early test for Trump. Chances of failure for the bumbling orange man could be as high as 98%. https://edition.cnn.com/2025/02/24/politics/north-korean-hackers-crypto-hack/index.html
North Korea is also getting $500M+ per year from IT workers it sends abroad to repatriate funds to NK.
If crypto can be traced and funds locked, why would anyone steal it? crypto is such a useless drag on society. it creates nothing of value, wastes tremendous amounts of resources, and provides organized crime an easy banking system, not to mention a nice bank to raid for your isolated dictator
Pretty sure Trump won't care ......... unless they go after his Melania Coin. Steve Bannon's already working on a way to scam rube MAGAs. Oh wait, Trump already did that.
crypto market loses $325B. facing liquidity prices..will this drive forced selling of stocks to cover? Crypto market faces a massive liquidity crisis, $325 billion wiped since Friday The crypto market is in a full-scale meltdown, with $325 billion in market cap wiped out since Friday morning as of press time, according to data from Coinglass, which also shows that the largest drop was when $100 billion disappeared within one hour. There were no major headlines covering the sudden crash, making it seem like not a big deal at all, almost as if no one even cared anymore.
why can't those wallets be locked or those coins removed from the chain or frozen in perpetuity? for something so secure and so transparent, blockchain seems to not be secure or transparent
This wasn’t a hack of the blockchain but the bank itself. This is why they always to keep your crypto in your own wallet, not on an exchange. They do have ways to flag but it sounds like they’ve already started laundering funds before things can get put in place.
Would not be shocked if Tulsi Gabbard ordered the NSA to provide the N Koreans with the hacking information. I am sure her and Trump each will get their share of the stolen fake-funds.
so the most advanced and secure financial system ever developed to insure stability and efficiency can't react in time to lock down the funds? almost seems like that flaw is intentional and nobody really wants to fix it
how else is Putin going to pay NK for all those munitions they are sending to Ukraine? you wouldn't expect him to use his own funds
Actually, Bitcoin is legit. The rest is a giant scam. Sure, people make money trading it, but people also make money at roulette wheels. And everything not named Bitcoin is designed to profit an initial group of investors or some financial institution. There won't be enough popcorn in the world for me when that comes crashing down. Douches getting douched. Should be some must-see TV.
what porduct does bitcoin provide top offset the vast amount of resources it consumes? is the juice worth the squeeze or it just a way to make money consuming resources but producing nothing of real tangible value while draining capital off of other assets that do generate tangible assets OT - big miner of bitcoins is Iranian mosques/madrassas where they get free or next to free electricity. the same ones that fund terrorism, nearly collapsed the energy grid in Iran when bitcoin spiked..fun facts
I can't answer that, but just look at it's market cap compared to the rest. Thus, it has established itself as a legitimate store of value in people's eyes, much like gold or the dollar. In fact, had a rather intensive conversation with ChatGPT about this (still not sure I really understand the mechanics of it) and the best comp was gold. In this case, digital gold. Unlike the rest, the founder created the blockchain and just disappeared, so the system essentially runs itself without any top-down influence. The rest are trying to copy this. Or, more accurately, create scams based on the blockchain premise that benefit themselves.
