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#Bybit in the middle of a $4bn bank run after a $1.5bn hack = $5.5bn outflows on a starting stack of ~$16bn...
but the good¹ assets are fleeing faster and so now Bybit's top holdings include absolute #shitcoins like #MNT and #PEPE.
tl;dr funds are SNAFU.
¹ in crypto terms, at least
Is this like an average day for this shit or something remarkable?
Asking for a friend… 
@GhostOnTheHalfShell this is remarkable even by crypto standards... but not that remarkable. this is the first billion dollar heist but North Korea pulls off a nine figure heist roughly every six months.
https://en.wikipedia.org/wiki/Lazarus_Group#March_2022_online_game_Axie_Infinity_attack
Get this you know forgive my bluntness, but isn’t this sort of suggesting that internationally or the international community is taking it in the ass and not even dealing with it?
@GhostOnTheHalfShell yep. there's basically two bros (one is a broette) on twitter who track these kinds of crimes who are sort of "good" bros (zachxbt and taylor monahan) but there's nothing really anyone can do about it once they track the funds to north korea, which is why the constant refrain of "it's on the blockchain so it's traceable so it will PREVENT crime" is up there among the most infuriating defenses the bros offer for the industry.
so you tracked the funds to lazarus group or Garantex (moscow ransomware exchange) - now what?
the whole thing is a joke. a bad joke that is funding nuclear weapons for deranged dictators.
More perfect union just released a piece on how disquieting crypto is after going to a convention. They did some background on it, But they did not even get close to the kind of stuff you casually post about.
They are always looking for stories to report on and always asking for suggestions.
I think it would make a very interesting news. Story to point out just how much crypto contributes to sanction avoidance.
BRICS nations have good reason to be uncomfortable with sanctions, But definitely sanctions or a double edged sword.
None of it is made any easier just as with tariffs. That big old global economy is pretty good at spreading shit around
@GhostOnTheHalfShell trust me i spend a lot of time trying to bring this to the attention of national security types. i actually seem to be having some success lately. #TrumpCoin changed the game significantly.
I mean, they wouldn’t at all be worried About a drugged out of his mind psychopath ripping up national security, With president who caught it off national secrets, and legal boxes.
Everything about US national security fubar.