North Korean Crypto-Currency Heist - Largest Ever - $1.5 B

[ArizonaTank]

Dear Leader needs a new pair of shoes I guess...

From a Fortune article:
"A state-backed collective of North Korean hackers has pulled off the largest heist in history. The group successfully walked away with $1.5 billion in cryptocurrencies—Ether, specifically—following a breach of Bybit, a Dubai-based exchange. That tops the previous record of $1 billion, which was set by Iraqi dictator Saddam Hussein, who took the money from his country's central bank ahead of the 2003 U.S.-Iraq war."

If you want a reason not to put your entire retirement fund in Crypto...here it is.

https://www.msn.com/en-us/news/world/north-korean-hackers-pull-off-the-biggest-heist-of-all-time-stealing-1-5-billion-in-crypto/ar-AA1zQwER?ocid=msedgntp&pc=NMTS&cvid=e498e6f16a96453f825d6effd3ea8db8&ei=25

[al_infierno]

Didn't the president of Argentina just pull off a crypto scam, too?  Except in that case it was a pump and dump type of rug-pull, whereas this one sounds like it was straight-up theft.

I have no idea why anybody in the year of our lord 2025 would still be putting serious money into any of these post-BitCoin crypto currencies.

[bobarossa]

It's called gambling. And it's addictive.

[al_infierno]

It's called gambling. And it's addictive.

You're better off playing poker. Crypto seems less like a gamble and more like an MLM where 90% of people who buy in think they're in the top 10% who are gonna get rich.

[ArizonaTank]

It's called gambling. And it's addictive.

You're better off playing poker. Crypto seems less like a gamble and more like an MLM where 90% of people who buy in think they're in the top 10% who are gonna get rich.

Not to get too far into the weeds...  But just today the SEC officially says crypto meme-coins are not securities and therefore not regulated. They are "collectables."

So I think that means they are more like Beanie Babies; my kids got a great lesson in capitalism with that one...I still have boxes of the worthless critters in my garage.

Also, this probably means market manipulation is part of the game; the ol' "pump and dump" is probably not illegal.

https://www.yahoo.com/news/sec-says-meme-coins-not-024323099.html?fr=sycsrp_catchall

[ArizonaTank]

oops double post