Hacker News
points by toss1 3 days ago | 0 comments
>> "...and is working with law enforcement, blockchain intel firms, and security researchers to trace and freeze the assets. The crypto exchange has also hired independent cybersecurity experts to conduct a cybersecurity review of the incident, and recommend additional protective measures."

>> trace and freeze the assets

It has gotten to the point where the advertised permanence of cryptocoin transactions is a serous national security threat, literally funneling $6+billion to a nation-state whose publicly avowed statements is to destroy the US to fund its nuclear weapons program.

The party is ending. The house lights are flashing. Crypto will either become controlled so illegitimate transactions will be roll-back-able (presumably with proper court or NatSec orders), or it will be banned.

[–] travisfromusa 3 days ago
This is already a reality. USDT, USDC, and many other smart contracts allow for the freezing of funds worldwide. Arbitrum rolls back its chain whenever it wants. State-sponsored Twitter influencers like Taylor Monahan (tayvano_), Zachary Wolk (ZachXBT), and Nick Bax (bax1337), falsely flagged as independent, publicly appeal to Thorchain (the only decentralized swap protocol between various native on-chain assets) to integrate transaction screening directly into the node consensus. EU has made accepting Monero illegal starting in 2027, among many other measures. Western governments have already succeeded in making crypto very controllable.
[–] toss1 3 days ago
Exactly.

I expect this trend will continue to the point where the original feature of transactions absolutely untouchable or un-blockable by the state will be gone with the exception of trivial deep underground cryptochains.