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Hackers stole billions in crypto to keep North Korea’s regime afloat

(www.wsj.com)
125 points Bostonian | 4 comments | 03 Apr 25 13:03 UTC | HN request time: 0s | source
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Kapura ◴[03 Apr 25 14:00 UTC] No.43569809[source]▶
When i look around at all the positive innovations cryptocurrency has failed to deliver, it really does seem like they invented a currency exclusively useful for doing crimes.
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thinkingtoilet ◴[03 Apr 25 14:41 UTC] No.43570428[source]▶
I got into bitcoin around 2011ish for some time. I was never a True Believer but I was a 'soft believer'. At the time, when people asked me if Bitcoin is the future I would always say "I think it or something like it will be very useful". Fast forward 10 years and there's been no actual use of crypto. No killer app. No disrupting the finance world. It seems to be used exclusively by smart people as a means of extracting wealth from people who don't understand it.
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1. dylan604 ◴[03 Apr 25 15:52 UTC] No.43571494[source]▶
> It seems to be used exclusively by smart people as a means of extracting wealth from people who don't understand it.

How is that any different from other financial markets? A fool and his money are easily parted, while targeting desperate people with get rich quick schemes are also an easy play. The crypto/stocks/etc are just different tools to achieve the same result.

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2. bogwog ◴[03 Apr 25 16:01 UTC] No.43571666[source]▶
> How is that any different from other financial markets?

It's unregulated.

Although to be fair, it seems everything else is going in that direction too (https://news.bloomberglaw.com/esg/doge-targets-sec-next-for-...)

3. thinkingtoilet ◴[04 Apr 25 15:22 UTC] No.43583739[source]▶
Please try and think for a second. You're telling me you can't see the difference in investing in a S&P ETF vs. crypto investing? Really? There is no difference there for you?
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4. dylan604 ◴[04 Apr 25 19:51 UTC] No.43586977[source]▶
you just put bumpers on it to make a smart ass comment. Investing in the S&P is not the only way to invest with stocks. People trying to take money from people are not peddling S&P investments.

In every market down turn, those that are not wealthy end up having to sell of stocks to stop the bleeding. Those that are wealthy increase their wealth by buying up what the others are selling. The concept of a forced market crash is not unthinkable. Especially the current situation. Those that are friendly to the current administration are about to be greatly rewarded.