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RE: Binance Hack Details: $6.3 BILLION Stolen

in #crypto • 6 days ago

Yes, but that's probably also why North Korea is the home of this collective.
Also, I would think it's possible to move the funds onto a private wallet and maybe somehow bring them back onto the chain somehow?
A lot of ransoms and illegal activity have been conducted with crypto so there have to be ways. Same group pulled off $1.5 billion last year.

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There are very simple ways to track crypto even if it is on a cold wallet. The tx numbers are marked as stolen and as soon as they turn up on an exchange for sale are flagged.

Why do they steal them if they cannot turn them into assets or fiat currency somehow?

To cause disruption and chaos in the crypto world. Binance is making 95% of the losses whole again.

What does that tell you?

Oe interesting theory I heard was that this was a way for China to give a massive financial injection to North Korea without violating US sanctions.