$31 million in the hand of hackers.....Bithumb Why?
When will all these crypto hacking Stop for the sake of
mooning?
$31M that he can't touch. Less in circulation but retained in capital. Means higher price per whatever token the hacker holds.
There's always a positive side.
So why can't he touch if? If he stolen it then it means he owns the private keys (well or they, im not sure if it is a group or a one man job). It could also be the usual insider job in which exchanges scam people by claiming a robbery but in reality it's just them getting the money and running.
Most hackers attempt to money launder their millions in order to live a lavish life, this means that they will attempt to sell for $ in unregulated OTC markets. This shouldn't have an impact on the market since the market follows exchange rates and not OTC rates. I just doubt they will hold it all. But even if $31 million were to be dumped in an exchange it would do nothing, it's a tiny amount for Bitcoin nowadays.