alt Hacker NewsSo, what's the most likely outcome here? Maybe Circle/Tether/etc freeze some or most of it, but say the hacker gets a billion dollars. Are they able to launder it thoroughly enough that they can eventually turn it into fiat and live like a king?
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It’s likely state sponsored and some nation(NK is a common one) just paid for the weapons budget of the next few years
Yeah, some criminal enterprise or state probably just made billions of dollars and will now use it against us for a long time. Crypto is practically designed for money laundering, particularly prediction markets.
Curious if this finally pops tether. I kinda doubt it, but to my very mild research on the subject I feel like binance was a big part of the equation. Of course so long as the market exists it'll need a stable, and it's got the inertia, so maybe it just won't matter.
You misspelled "turn it into more nuclear weapons in North Korea", where Kim Jong Un is already living like a king.
The hackers managed to swap 700 million USD of the stable coins that were frozen beforehand, supposedly. And that doesn't account for the non-stable coin crypto they stole. I think we are looking at 2.5 to 3.5 billion here, that also aligns with what CZ is hinting at (more than a billion).