[throwaway657656]

Imagine if Fort Knox had a magic key allowing the bearer to walk in and out of it, at will, with as much riches as they wanted.

Now imagine that bearer is a politician who blames the North Korea for the missing assets.

Or imagine that key is damaged and no one can get the coins. It is lost forever.

I almost hope this stupid experiment is done on a state level, rather than national, and that it fails miserably as cautionary tale.

[npoc]

I assume you haven't heard of m-of-n multi-signature vaults?

[ttyprintk]

ByBit heard of n-of-m.

[npoc]

Shame they trusted information they read in a web browser rather than verifying it on an independent offline device....

The average bitcoiner pleb with a single air-gapped signing device has better security.

It was a rookie error, helped by the overly complex nature of Ethereum.

[throwaway657656]

That's my point. It reminds me of when the greatest smart contract writers in the world got "hacked" by what was in the retrospect, a rookie error. We now have ETH and ETC which no one at the time (I'm a former miner) would have thought was possible.

[npoc]

"Smart" != common sense.

K.I.S.S., especially when it comes to money.

Tick tock, next block...

[celticninja]

Laundering it would be very difficult. NK can do it because they have a nation state that will protect them. That's the only way to be able to spend that money. So sure steak the keys and live a life of luxury in north Korea I guess.

[free_bip]

Unfortunately, there are plenty of DEX's that will launder your bitcoin of questionable providence into completely untraceable Monero.

[lern_too_spel]

Or Russia or Belarus or Georgia.

[DANmode]

Imagine you could actually know if Fort Knox had what you thought it did, to the bar.