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The whole idea of crypto was to cut out the banks. So the idiots holding their assets on an exchange like Binance (or FTX if anyone remembers those thieves) are just that, idiots.
Who would have thought a bunch of neckbeard tech nerds wouldn't be able to reinvent the banking system? It's almost like there's a constant thread in IT of rampant libertarian nonsense from a bunch of predominantly white men high on their own supply.
I say this as someone with over a quarter century in corporate IT. It's gotten better but my god the delusional level of tech evangalism from all angles is almost non-stop. The current flavour is AI but previously it was RP and before that it was block chain and before that it was noSQL.
Everything amounts to some mouth breather going "I can make it better than the tried and true system that has existed for decades or centuries"
Fucking hubris man. Constantly looking for problems for their "solutions"
I do at least get the idea of very temporarily passing the money through a currency exchange. But not it sitting long enough and trusted enough for hackers to steam $6B of it. Why in the world would anyone do that
Because they're speculating and have open orders.
Something like this was inevitable when people accepted being so complicit in crowdsourcing financing heavily biased towards the black market. Presumably the “never-seen-before” laundering patterns were actually the well known crypto money laundering efforts that exist that just trade and launder the pilfered crypto via high speed high frequency trading for "legit" blocks.
Good for them tbh
Anyone still into crypto in 2026 deserves it ¯\(ツ)/¯
Anyone keeping their money in exchanges is a moron. But with that said, I keep a decent amount of money in a few monero wallets since I use monero to pay for mullvad because there are laws being written in my state which may make vpns illegal in the future as part of age assurance laws.
And that's fair, I think. I've considered keeping some money in Monero wallets in case I need to buy grey market HRT.
What gets me, is people dumping their entire savings into exchanges and essentially speculating on a highly volatile thing like cryptocurrency.
I would generalize this to any year really.
I don't believe ANYTHING our government says. How do we know trumPedo didn't give NK what they need so they could steal it and split it with him?
Agreed. I'm extremely skeptical this was a "hack" and more like a laundering-scheme. What was offered in return, I wonder.
Remember too that this is the company whose CEO Trump pardoned as the article notes:
The company was founded by the Chinese-born entrepreneur Changpeng Zhao, now a Canadian and United Arab Emirates citizen, who was jailed for four months in 2024 after pleading guilty to money laundering violations. Donald Trump pardoned him in 2025.
They're going to cover $6.3b? They have enough cash or cryptocurrency on hand for that?
Also, what is NK even planning on doing with it? You can't eat it. Russia wants you to use rubles, China wants you to use RMB. If you trade it for regular currency, you'll be devaluing it. Is there some international black market that will take it?
If you stole it it’s not like devaluing it means much to you lol
Half of that was in stablecoins that were frozen, so they 'only' need to recover around 3b.
Binance, which allows users to buy, sell and trade digital assets, has 335 million registered users globally and had about $162.8bn in assets under custody as of the exchange’s 2025 annual report.
"Under custody" doesn't mean unrestricted and capable of being transferred freely, or even ownership. The owner of a valet parking garage might have millions of dollars worth of cars inside, but he can't just start using that value to pay off his debts, even if he does have the keys to the cars inside.
Fair, but this wouldn't be the first time depositors took a haircut to cover an exchange, and losing 4% of one's money is already a daily occurrence in crypto.
Based + Juchepilled
Money is made up. It's only a problem when capitalism dictates who dies and who gets to eat. Either overthrow the gov and destroy capitalism or stop complaining about it when it works as intended.
It appears capitalism has decided that North Koreans get to eat today.
Money is made up
It is. I took me a while to realize this. 115 grains
Does this mean monero will be going up? Should I buy some monero?
No. Historically crypto prices go down after a major hack. The hackers are selling right now, but Binance will buy slowly.
So buy monero now is what you're saying
Is this the final rug pull, stay tuned...got anymore NFT's?