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

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.

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.

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.

They are simply having to duplicate all the things Visa provides its customers.

BTC is inherently deflationary in the sense that once new coins cease to be mined the total number of BTC will decrease over time due to lose, theft and death. I know that I lost my wallet with the only BTC I owned 10 years ago. I can name several other people that have done the same. I would think this one property makes it undesirable for use as a currency.