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(Yahoo)   Crypto crash also tanking North Korea's ill-gotten finances   ( divider line
    More: Amusing, South Korea, North Korea, Korean language, Pyongyang, Korean War, Kim Il-sung, Korea, Korean Peninsula  
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578 clicks; posted to STEM » on 29 Jun 2022 at 3:50 AM (6 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook

6 Comments     (+0 »)
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2022-06-29 5:04:25 AM  
2022-06-29 6:09:02 AM  
Crypto Crash is the name of my tech-bro emo band.
2022-06-29 8:08:08 AM  
media0.giphy.comView Full Size
2022-06-29 8:12:22 AM  
North Korea has poured resources into stealing cryptocurrencies in recent years, making it a potent hacking threat and leading to one of the largest cryptocurrency heists on record in March, in which almost $615 million was stolen, according to the U.S. Treasury.

The important thing to keep in mind here is that's $615M worth of stolen crypto, and if that was Bitcoin, it's still about 300M snagged for the price of pulling it off to begin with.

/Assuming Eth, though. DeFi exploits and "De"Fi scams are rampant and seem better for yoinking sums like that.
2022-06-29 10:10:15 AM  
It is an ill wind that blows no good... to someone.

I have often thought that US law enforcement was just going to let crypto go because, although it is ruining many people's lives, there are some great plays to be made in fighting organized crime and rogue states. It might be a wash, who knows?

I have also thought that the Russians have been manipulating the whole thing using fake names, and that this crash is coming just about the time when Russia needs to dig deep to pay for its war.

And here we are. The North Koreans dodged sanctions that were impoverishing its people, only to find that it is impoverishing its people faster with bitcoin. It has got to hurt. They will take another step backward in their development.

Here is the thing. They made enormous sacrifices to get a nuclear program going. Won't they be disappointed when half of Asia will get nuclear protection simply by signing a collective security treaty? All along, they thought the missiles and military really mattered. Turns out they are useless.

They will find out that, in the modern world, success and security are the friends you make along the way.
2022-06-29 12:35:05 PM  
North Korea says its fake news they didn't steal anything and you guys should all be ashamed of yourselves and your unfounded allegations
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