Dr Wiehann Olivier, Partner and Global Co-Head of Digital Assets, Forvis Mazars.
Now that the dust is settling around the Binance hack, we can start to make sense of what happened. And the story is more revealing than the headline that $6.4 billion of cryptocurrency was stolen.
The blockchains were not hacked. Billions in stolen assets were subsequently frozen. Much of the remaining money can be watched moving across public ledgers. And investigators believe the attack ultimately raises money for North Korea.
Understanding how all four can be true tells us a great deal about how crypto actually works.
On 29 October, attackers moved approximately $6.4 billion in digital assets out of Binance’s hot wallets (the internet-connected wallets…
