Think the North Korean hackers' efforts were for nothing by freezing $3 billion? Wrong. The $6.3 billion stolen from Binance is undergoing a brutal "asset dismemberment." The reality is extremely dire: Part One: $3 billion in stablecoins, a narrow escape. Tether and Circle have blocked them with a single click. The hackers can't take this money, but Binance can only get it back after the police complete legal proceedings. Part Two: The money converted to BTC and ETH, Binance can only watch helplessly. No issuer, no blacklist, no one-click freeze. What can Binance and tracking agencies do? They can only monitor the blockchain, watching every transaction occur, recording and marking it, and then doing nothing. As long as the private keys are in the hackers' hands, and as long as they aren't foolish enough to deposit the coins into regulated exchanges, this money will forever remain in a state of "visible but intangible." You watched your money being stolen, watched it move across the blockchain, but you couldn't stop it. Part Three: The remaining money is frantically "jailbreaking." Chainalysis has just uncovered the North Korean hackers' "jailbreak script." Faced with account bans, they didn't abscond; instead, they played a "smokescreen" on the blockchain, proceeding in four steps: Step 1: Invest in DeFi and exchange for certificates. They deposited stablecoins that hadn't yet been frozen into lending protocols, exchanging them for "deposit certificates." Step 2: Escape the blacklist. The certificates aren't controlled by the blacklist; they're just a withdrawal slip. The hackers transferred them to a brand new, untainted wallet. Step 3: Shift locations. In the new wallet, they exchanged the certificates back for stablecoins. Step 4: Final cleanup. Finally, through a cross-chain bridge, they exchanged them for ETH, which cannot be frozen. After this series of moves, the freeze order became completely worthless. This also explains why, despite freezing nearly 3 billion, the hackers remained unbridled. This is the darkest humor in the crypto world: Centralized giants have the weapon of freezing assets, while DeFi lending protocols have become the sharpest shield in the hands of hackers. In this cat-and-mouse game, hackers can always change their tactics faster than the tracking agencies.