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125 points Bostonian | 1 comments | | HN request time: 0.202s | source
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horacemorace ◴[] No.43569825[source]
If cryptocurrencies are self-regulating, aren’t the techniques used by these hackers actually the best and most effective way to play the game by its own rules? Calling this behavior “cheating” smells of sore-loserism.
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acc_297 ◴[] No.43570205[source]
There is a certain Bitcoin evangelist who will preach the gospel of a self governing currency that via a system of rules will automatically validate transactions between trust-less parties in a decentralized manner over a globe-spanning internet protocol but then complain when that same system does not prevent them from accidentally sending the entire contents of their "wallet" to an address in North Korea.

The system does not represent ownership the system only tracks of the validity of transactions and if the North Korean government proposes a valid transaction of your BTC or ETH to an address they control and a mining-node includes that transaction in a block which a majority of the network accepts then those assets are no longer yours they belong to North Korea.

The properties of the crypto-asset ecosystem which allow it to be ungoverned also make it ungovernable.

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earnesti ◴[] No.43570334[source]
I would imagine exchanges these days routinely monitor incoming and outgoing transactions, and if they suspect the funds are stolen, they are freezed. I would imagine North Korea doesn't have really an easy job laundering that BTC they have stolen.
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1. mhluongo ◴[] No.43570760[source]
You're right, many crypto exchanges operating on the right side of the law will freeze these funds.

For those interested in this, CT (crypto twitter) makes tracking North Korea's stolen winnings a bit of a sport.

samczsun, an excellent security auditor who's working at Paradigm these days, broke down some of the org in a post the other day.

https://x.com/samczsun/status/1906754853063565720?t=N4aqa6Vy...

Taylor Monahan at MetaMask also makes a habit of tracing funds and shares some pretty interesting finds around NK's laundering efforts.