How did a hard fork resolve the DAO hack? Couldn’t the hacker have quickly liquidated the proceeds into fiat before the fork went live? How traceable would that have been?

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How did a hard fork resolve the DAO hack? Couldn’t the hacker have quickly liquidated the proceeds into fiat before the fork went live? How traceable would that have been?

What was the hacker's plan in terms of liquidating the proceeds? Like how can you possibly get away with that — couldn't an exchange like Coinbase easily map the recipient's address / key to a person? I'm a noob, just curious.

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