181–190 of 345 posts
Six empty cold wallet addresses were disclosed by Quadriga, and for the most part they look to have been unused for the last year. EY is investigating some other potential addresses which are also empty.
Source: https://documentcentre.eycan.com/eycm_library/Quadriga%20Fin...
My take on this is that they probably were insolvent for a long time already due to previous hacks/theft. The CEO just decided to lie about the supposedly 137M in funds 'safely' stored on his laptop. This is also what happened at MtGox, except that at MtGox they 'lost' wel over a million BTC. Edit: relevant listening: https://darknetdiaries.com/episode/9/
Earlier quoted context omitted.
Based on what I've read, the NSA and other white-hat organizations have access to 0-days or have discovered 0-days that can crack these things but they're not released to the public or if they are, they're released years later.
> the NSA and other white-hat organizations First time I hear NSA grouped with white-hats. What definition would permit this categorization?
0. https://en.wikipedia.org/wiki/National_Security_Agency#Missi... NSA's eavesdropping mission includes radio broadcasting, both from various organizations and individuals, the Internet, telephone calls, and other intercepted forms of communication. Its secure communications mission includes military, diplomatic, and all other sensitive, confidential or secret government communications.[51]
This article is innaccurate. Here is the tracking by Ernst & Young (court-appointed) providing all the public information about these developments. The latest report on 1 March 2019 mentions nothing about a cracked laptop. https://documentcentre.eycan.com/Pages/Main.aspx?SID=1445
There's nothing wrong with the article. The March Report merely says they were able to recover the cold storage wallets and discovered they were empty; it doesn't go into how they got access to those wallets since that isn't relevant to the report. Per the company and prior news reporting, those cold storage wallets discussed in the March Report were only stored on the owner's laptop, which was previously inaccessibl…
Incorrect. Experts were able to trace funds back to the cold storage wallets addresses using analysis. But the private keys have not been located and no, the laptop has not been "cracked".
For some reason this sounds like the plot of a movie starring Leonardo DiCaprio. CEO of Crypto Company... 1) Takes time off to build orphanage in region noted for fake deaths. 2) Subsequently dies unexpectedly. 3) Is immediately cremated. 4) Wife waits a month before saying "oh by the way he is dead" 5) Wife claims all keys on encrypted laptop 6) World watches as wallets mysteriously empty 7) Experts crack laptop 8)…
And the widow is left with just the 17 properties, 2 cars, yacht and plane that he earned through honest hard work. Another thing you could work into the plot is $9m appears to be with WB21 "Banking Redefined" which claimed a million users but was discovered to only have 135 downloads of its app (now removed), is run by a convicted fraudster and was awarded "Global Banker Award 2018" in a black tie ceremony that they…
Earlier quoted context omitted.
DiCaprio? This whole affair has been at best a Weekend at Bernie's-level plot. The accounts were emptied 8 months before the death, and yet QCX pretended they were solvent the whole time so they could keep the party going.
DiCaprio? This whole affair has been at best a Weekend at Bernie's-level plot. I think it would be best done with the production values of "Catch Me If You Can."
Earlier quoted context omitted.
And this is the problem. These guys are not regulated. There is no transparency. There are no external auditors. There is no control. When we find out, it is always too late. Every "cryptocurrency bank" is a potential Enron. I fear both the involvement of Central Banks and at the same time the lack of it. If EY (or anyone else serious about this) 'follows the money' then that would be a very interesting report to rea…
> These guys are not regulated. There is no transparency. There are no external auditors. There is no control. But that's a feature, not a bug, at least according to the crypto people. But, so far, all they have managed to do is rediscover lessons about the need for regulation, oversight and accountability that the financial industry has learnt decades or even centuries ago.
My take on this is that they probably were insolvent for a long time already due to previous hacks/theft. The CEO just decided to lie about the supposedly 137M in funds 'safely' stored on his laptop. This is also what happened at MtGox, except that at MtGox they 'lost' wel over a million BTC. Edit: relevant listening: https://darknetdiaries.com/episode/9/
And this is the problem. These guys are not regulated. There is no transparency. There are no external auditors. There is no control. When we find out, it is always too late. Every "cryptocurrency bank" is a potential Enron. I fear both the involvement of Central Banks and at the same time the lack of it. If EY (or anyone else serious about this) 'follows the money' then that would be a very interesting report to rea…