On: Bybit loses $1.5B in hack

[adastra22]

That’s well within the daily trading volume.

[plantain → adastra22]

Well within real daily trading volume is less clear.

https://www.forbes.com/sites/javierpaz/2022/08/26/more-than-...

[scrlk → adastra22]

Exchanges will blacklist the addresses that hold the hacked ETH. They won't be able to deposit, or if they can deposit, the ETH will be frozen by the exchange.

[theamk → scrlk]

I am sure there are still plenty of suckers who believe the whole "cryptocurrencies are fungible" narrative, and would get those ETHs with a discount.

[medellin → scrlk]

It is on eth and they can use decentralized exchanges.

[scrlk → medellin]

It's all traceable. Some of the ETH has already been run through a mixer and then bridged to BTC.

In any case, since this hack was performed by a nation state actor (Lazarus Group/North Korea), being caught is effectively meaningless.

[cherryteastain → scrlk]

Tornado cash and similar exist

[theamk → cherryteastain]

So? Taint entire mixer output if any of the inputs is tainted. After a few instances, no one wpuld want to participate.

If someone complains, remind them that Tornado is illegal in US.