It's an important distinction.
reply$3.5B stolen was "stable coins", which you could equate to a piece of paper with a dollar amount written on it.
Those are largely freezable by the issuer of the paper.
Then we have $2.4B in Bitcoin and ETH stolen. Those are not directly freezable.
However, if that does create a liquidity challenge for these exchanges, what if the price just so happens to drop by 60% after trading is restricted? That liability might shrink in actual value.
What if the bag of paper "money" is in a foreign currency? You'd still happily call it money, but then the distinctions you're trying to draw with crypto don't really apply. Think of crypto as a foreign currency, it still functions as money.
replyYes, and we could have a paper money system where a registry of stolen serial numbers is kept and they can’t be deposited at any bank or used to pay the government ever again.
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