Why Israeli Hackers Just Burned $90M of Crypto 10:59

Comments

• Venator@lemmy.nz ⁨3⁩ ⁨weeks⁩ ago

  $90m doesn’t sound like very much in terms of crypto news 😅

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• SolidShake@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  How can you burn a digital thing?

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  • ChaoticNeutralCzech@feddit.org ⁨3⁩ ⁨weeks⁩ ago

    The term is not always literal. By destroying the only copy of the wallet’s private key, the funds become irrecoverable unless the cryptography is broken, which would destroy all of the currency’s value. And yes, the private key can be literally printed and burned.

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    • Venator@lemmy.nz ⁨3⁩ ⁨weeks⁩ ago

      irrecoverable unless the cryptography is broken, which would destroy all of the currency’s value

      Unless you manage to break the cryptography and keep it a secret 🤑 😂

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