Skip to content
Subscriber Only
Business
Odd Lots

Why the Stablecoin Issuers Will Inherit the Earth

Tether hp

The crypto world on Tuesday saw what might have been the largest hack and loss of funds of all time. As my colleague Olga Kharif reported, $600 million was stolen from a cross-chain protocol called PolyNetwork.

As everyone knows, the thing with crypto is that there’s basically nothing you can do about a hack once it happens. A sufficiently decentralized blockchain is a virtually immutable ledger. It’s extremely difficult, if not impossible, to roll back or do anything about a hack. Once a coin changes hands, that’s it.