Join the discussion
Write your take first — we'll ask for email only when you're ready to publish.
- Hacker News
- At this point it feels like they have made it a /dev/null for things which are not easy to resolve and one is still on the hook to provide some answersby sandeepkd
- Here is the underlying report from TRM: https://www.trmlabs.com/resources/blog/north-korea-steals-us...by ano-ther
- Like nearly everything in this modern world, the public statements or claims are never true and the opposite is the reality. Im thinking of those people worried about the government taking their money, and today we see the safety of crypto is fundamentally broken because ANYONE can take your money. Maybe its me, but i would rather trust the gov than ANYONE.
- After long soul-searching, crypto has settled on two strong use cases:
1) unregulated gambling (a.k.a. "prediction markets"),
2) funding North Korea.
Heartening to see the beautiful web3 vision come alive.
by pavlov - > the largest crypto theft on record
Interestingly, this 18,270 BTC Binance theft is only the largest when measured in USD. In terms of pure BTC, it's not even close to the 2011-14 Mt. Gox loss of ~850,000 BTC.
by nomilk - Man, if only there existed some central societal body with the authority to essentially freeze accounts and unwind a transaction like this. What a security feature that would be.by jstummbillig
- >Estimated total impact: ~$6.3B, with ~$3B frozen on-chain so far, in coordination with our blockchain partners
I always find it amusing to read this. Why would you even bother with a decentralized currency that can move freely across the globe when some centralized institutions can always interfere in the way legacy banks used to do with your money? Either they are misguiding you about the core value of their product or their ability to execute traditional interventions in cases of theft. You can't have the conveniences of both at the same time.
by sigmoid10 - Crypto enthusiasts misunderstand what a financial system/financial architecture is. It is not the fiat currencies themselves, but rather the power architecture that controls and oversees value and exchange in whatever form it takes. Crypto has been entirely subsumed into this architecture through the exchanges which are obviously beholden to the holders of real power, i.e. governments.
This is to say, the stated goal and the target of the crypto enthusiasts are misaligned. To transcend the institutions represented by the fiat system requires far more than creating some alternative "currency", rather it requires creating an entirely new power structure.
by gradus_ad