Bitcoin and other cryptos have their advantages and disadvantages, and what you have just narrated is so possible, which is what I term "one of the risks of owning cryptos." Fiat too is susceptible to hacking, but highly traceable and recoverable, unlike crypto where mixers, wallets and exchanges could be complicit in the perpetration. I don't trust anyone or company no matter how they seem to be innocent, the underworld has its networks too, so it might be easier to get away with some hacking and stealing at times depending on the crypto in question.
As time goes on, more underworld schemes would be devised, and more efforts would be deployed to trade stolen coins, but it's not all either side that would be successful.
Topic: A curious funny thought of the day - page 2. (Read 208 times)
Sorry I don't believe that crypto wallets get hacked, it's always someone doing something stupid, if this happens then it's the fault of the person in charge of the wallet storing the country's fund. I believe the hunt should start from him, what he did last, which transaction he authorised and which smart contract he interact with.
Probably put all exchanges on high alert in expectation of the hacker moving it through them. This could be extended to mixers as well which they think the hacker would try to move it through first.
In their characteristic fashion, they would likely try damage control as public funds are involved, and shift the blame to how the crypto system is set up which lead to the loss and encourage people to save with banks instead.
- Jay -
In their characteristic fashion, they would likely try damage control as public funds are involved, and shift the blame to how the crypto system is set up which lead to the loss and encourage people to save with banks instead.
- Jay -
Assuming in the future time many countries have fully embraced crypto adoption and in fact, many countries are using the country fund to invest in Bitcoin just like what El Salvador is doing right now and something bad starts happening to the wallet they store their fund?
Imagine a hacker stealing Bitcoin that belongs to a country, how do you think the situation will be handled?
Do not take this too seriously as it's just a fun thought, since this has nothing to do with Banks I am just thinking about how they will handle the situation, launch a red alert or something. Go after the hacker big time with all they have? Or use the Centralised power on the exchange?
Imagine a hacker stealing Bitcoin that belongs to a country, how do you think the situation will be handled?
Do not take this too seriously as it's just a fun thought, since this has nothing to do with Banks I am just thinking about how they will handle the situation, launch a red alert or something. Go after the hacker big time with all they have? Or use the Centralised power on the exchange?
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