> doing it would destroy confidence in the coin and absolute tank the price
People seem to say that but there's no evidence of this in fact. A price will only tank if lots of other holders rush to sell before the thief sells his stolen billions.
Re:The Ethereum merge is done
by Sohcahtoa82 on Thursday September 15, 2022 @04:33PM
(#32858081)
I think it's a matter of how quickly the thief could make their profits before people notice.
Of course, keep in mind that for such an attack to work, you need 51% of the total ETH being staked. Again, that's billions of dollars right now. If you stole some coins via double-spend, you couldn't pull the money into usable fiat very quickly. Even dumping a bunch of coins is going to crash the price.
It would take billions of dollars worth of ETH to do such a thing, and then doing it would destroy confidence in the coin and absolute tank the price, costing the evil pool hundreds of millions.