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North Korea’s $1.5 billion crypto hack is chump change — given what’s lurking - MarketWatch

1. North Korea's heist represents a growing existential threat to cryptocurrencies. 2. Bitcoin has lost over 10% of its value in response to the theft. 3. Protecting crypto networks is costly, challenging their role in the global economy. 4. Majority attacks could devastate crypto values if protections are insufficient. 5. Research suggests trust costs for crypto could exceed global GDP.

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FAQ

Why Very Bearish?

The article highlights the rising threats to Bitcoin's security, causing investor concern. Historical hacks, like Mt. Gox, similarly caused significant price drops.

How important is it?

The article discusses significant security vulnerabilities in crypto, which are critical for Bitcoin's integrity. Investor trust is paramount; hence these threats are highly relevant.

Why Short Term?

Immediate panic selling may occur due to heightened security fears, affecting Bitcoin's price now. Past events show quick market reactions to negative news.

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