That means it will be very difficult for the thieves to abscond with their profits in a spendable form without being identified, says Michelle Lai, a cryptocurrency privacy advocate, investor, and consultant who says she’s been tracking the movements of the stolen FTX funds with “morbid fascination.” But the real question, Lai says, is whether identifying the thieves will offer any recourse: After all, many of the most prolific cryptocurrency thieves are Russians or North Koreans operating in non-extradition countries, beyond the reach of Western law enforcement. “It’s not a question of whether they’ll know who did it. It’s whether it will be actionable,” says Lai. “Whether they’re on-shore.”
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