Cashingout the stolen ETH by North Korean Hackers

So, a North Korean hacker group just pulled off a massive $1.5 billion ETH heist. But here’s the catch – they’ve already spread the stolen ETH across 44 wallets, and all of them are blacklisted. That means no CEX (centralized exchange) will touch these funds, making it nearly impossible to off-ramp to fiat directly.

Now, they could use DEXs to swap ETH for stablecoins or other tokens, but blockchain forensics are watching every move. If they interact with new wallets, those too will likely get flagged.

Even if they manage to swap their ETH, converting to real cash is another nightmare. No legit CEX will process transactions linked to stolen funds, leaving them with risky options like shady P2P trades, shell companies, or sketchy brokers.

Bottom line: Since, the hackers cannot cashout the stolen ETH immediately, they may not have any motivation to swap ETH for stables in the DEXes.

My understanding is that there’s no immediate threat that all this ETH will flood the market at once. The laundering process will be slow, risky, and expensive. So, while this is a huge hack, the crypto world isn’t about to collapse overnight.

Thoughts?