MoneroForum
Monerica468x60_v1Your ad here
Monero General Monero Discussion Started Oct 31, 2026 3:54 PM

Why didn't the North Korean hackers who stole $6.3 Billion from Binance convert any of it to Monero?

1 replies - 24 views - 1 thanks - 0 tippers - 2 watchers

Oct 31, 2026 3:54 PM
#1

$3 Billion of the $6.3 Billion was in in Circle and Tether and was easily frozen. Why did the attacker convert $325 Million of USDT to ETH on Uniswap rather than XMR? Why wasn't that ETH then seized or frozen?

The current market cap of Monero is $11.2 Billion. What would happen if someone tried to convert $1.5 Billion in BTC to XMR using Unstoppable Swap? What would happen if someone tried to convert $325 Million in Ethereum to XMR using Cake Wallet, Basic Swap or a combo of other defi exchanges?

Detailed analysis of the hack by TRM Labs can be found here.

1 thanks - 0 tippers - 2 watchers
Monerica468x60_v1Your ad here

Replies

Page 1 of 1 - 1 total
Oct 31, 2026 5:16 PM
#2

  1. You can't freeze or seize eth without the private keys controlling that eth because it is a permissionless blockchain.

  2. Stablecoins can be seized / frozen because they're smart contracts that can be arbitrarily updated, and they also depend on the issuer for redemption.

  3. There's no permissionless way to swap to monero. Unstoppable swaps is a good idea but the market maker would refuse to trade. This is the whole thing that services keep claiming they can do when in reality they cannot (thorchain, waygu)

  4. Even if they did accept that trade there is unlikely to be sufficient liquidity for that trade / there'll be MAD slippage.

Signature

You are the only light

blog: freedomthemoon.netlify.app
map: premiumpostcode.com
github: moonboi420

1 thanks - nemesis - 0 tippers
Login to tip

Post A Reply

You must be logged in to reply. Login or register.