$6.3B crypto lost to hackers. Does it change how you think about crypto vs. rentals?

Question

Hackers linked to North Korea drained about 6.3 billion from Binance Thursday evening, the largest crypto theft on record.

Withdrawals were paused and Binance says it will cover customer losses from its own funds.

In our office we have a saying: "If you're risk-averse, real estate over crypto," but I'm curious how this group actually handles it.

• Do you hold crypto alongside your rentals? Did this week change your allocations at all?
• If you've funded a down payment with crypto, how far ahead did you convert and did your lender give you trouble on sourcing and seasoning the funds?
• Is "you can't hack a house" still a real edge or are wire fraud and deed fraud just real estate's versions of an exchange hack?

Do you hold crypto alongside your rentals? Did this week change your allocations at all?

If you've funded a down payment with crypto, how far ahead did you convert and did your lender give you trouble on sourcing and seasoning the funds?

Is "you can't hack a house" still a real edge or are wire fraud and deed fraud just real estate's versions of an exchange hack?

Not trying to start a crypto war. I just want to hear how people are balancing it.

Chris Seveney · Answer

have never held crypto as I do not really understand it. Not going to blast it or praise it, just do not spend enough time on it. I know people who have made a lot of money and lost a lot of money in it, just like real estate

Jay Hinrichs · Answer

U have to read the full article it was not lost .. it was hacked and they froze the accounts there was money lost but NOT nearly 6 b. I have never done crypto either.

Elizabeth Riggs · Answer

I appreciate your thoroughness! I did read the full article, about $2.4 billion is still with the attackers, which is pretty substantial. I find it interesting that many real estate investors stay out of crypto (myself included). I'm curious why that is...

Elizabeth Riggs · Answer

Totally. I'm curious, what do you feel your risk tolerance is and what drove you to choose real estate investing over other investment opportunities?

$6.3B crypto lost to hackers. Does it change how you think about crypto vs. rentals?

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