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North Korea steals $1.5bn as it pulls off world’s biggest ever heist (www.aol.com)

submitted 6 days ago by [email protected] to c/[email protected]

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The hackers stole more cryptocurrency in one attack than all the funds stolen by North Korean cyber criminals in 2024, when the rogue state’s cyber attackers made off with around $1.3bn in digital coins, according to cryptocurrency analysts Chainalysis.

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[–] ChairmanMeow 2 points 4 days ago (1 children)

you wouldn't be able to do the above with a bank. They'd just make the transaction not to have happened.

No, in almost all cases they simply create another transfer to reverse it. If another bank is involved, they typically pay a fee to that bank to do it.

Source: I work in fintech. I've seen plenty of messes the banks clean up this way.

[–] [email protected] 1 points 3 days ago

Yes that's what I mean. But with crypto, not being able to reverse a transaction is one of the main features and makes this kind of thing immensely easier.