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North Korea steals $1.5bn as it pulls off world’s biggest ever heist (www.aol.com)

submitted 4 months ago by [email protected] to c/[email protected]

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The hackers stole more cryptocurrency in one attack than all the funds stolen by North Korean cyber criminals in 2024, when the rogue state’s cyber attackers made off with around $1.3bn in digital coins, according to cryptocurrency analysts Chainalysis.

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[–] [email protected] 15 points 4 months ago (3 children)

First of all, I love that this is an AOL link. AOL is still around, eh?

Second, isn't crypto supposed to be trackable in the ledger? How are they hiding that much coin under a new name? That's the whole point of crypto.

[–] [email protected] 7 points 4 months ago (1 children)

Why would they need to hide it?

[–] [email protected] 2 points 4 months ago

That's a good point, but I'm not sure that's in crypto's favor. Since we know who now owns the stolen crypto, would someone buy it from them? Who is going to honor it? So, does the exchange just go defunct and everyone is out, or....?

[–] [email protected] 2 points 4 months ago

There are ways to clean crypto, by mixing it with other sources. See crypto mixers

[–] [email protected] 1 points 4 months ago* (last edited 4 months ago)

Depends on the coin. Bitcoin is more trackable than cash. But privacy coins provide...privacy