He said, “Doing that requires moving the stolen cryptocurrency, laundering it so no one can trace it, and then exchanging it for dollars, euros, or yuan that can buy the weapons, luxuries, and necessities even bitcoins cannot.”
Janczewski was also the head of the investigation of the recent Twitter hack.
Crypto experts advise how to avoid hacks
Jon Rice of Cointelegraph claimed the hack could have been avoided in the first place. He said, “ It’s a fix so easy, so obvious, that the owners of around $150 million of cryptocurrency are right now kicking themselves for not performing it. Don’t keep your crypto on an exchange if you aren’t using the service.”
“Not your keys, not your coins,” he added.
The bitcoin market is stable despite the hack
Following this security breach, the Bitcoin price remains stable. Other major cryptocurrencies, including Ether and decentralized finance (DeFi) tokens and Ether, also remain unaffected by the hack.
Whales or high-net-worth individuals, accumulate and move their holdings in “whale clusters.”
