FTX faces potential hack, sees mysterious outflows totaling more than $600M
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Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M
#2It's been stated that FTX can access the wallets of their customers [1], I wonder if employees or other bad actors knowing the ship is sinking have decided to - forgive me for the quip - plunder any remaining assets.
1: https://www.coindesk.com/policy/2022/11/10/ftx-violated-its-...
Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M
#3They’re making Madoff look good. He semi-voluntarily* turned himself in when the jig was up, and the govt eventually recovered about 2/3rd of the money
FTX seems like it’s still trying to steal funds
*Madoff confessed to his family, said he would turn himself in, and asked for 24 hours to get affairs in order. Family refused, called FBI immediately
Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M
#4> Investigating abnormalities with wallet movements related to consolidation of ftx balances across exchanges - unclear facts as other movements not clear. Will share more info as soon as we have it.
From FTX's general counsel[1], retweeted by FTX_Official. So that indicates it's not being sold off legitimately under some sort of liquidation proceedings. It could be insiders or it could be hackers.
[1] https://twitter.com/_Ryne_Miller/status/1591281729125613570
Rumors on Twitter[2] are there was also an update just pushed to the FTX app. Concerns are the update may contain malware. It makes sense to uninstall the FTX app if you have it.
Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M
#5It's wild. The place is brazenly being robbed in public eyes. Is it under the Bahamas laws? What can anyone do?
Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M
#6> Investigating abnormalities with wallet movements related to consolidation of ftx balances across exchanges - unclear facts as other movements not clear. Will share more info as soon as we have it. From FTX's general counsel[1], retweeted by FTX_Official. So that indicates it's not being sold off legitimately under some sort of liquidation proceedings. It could be insiders or it could be hackers. [1] https://twitte…
> Reports on crypto Twitter are that this is a hack
Is that based on some evidence, or is it speculation?
Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M
#7They’re making Madoff look good. He semi-voluntarily* turned himself in when the jig was up, and the govt eventually recovered about 2/3rd of the money FTX seems like it’s still trying to steal funds *Madoff confessed to his family, said he would turn himself in, and asked for 24 hours to get affairs in order. Family refused, called FBI immediately
Madoff recovery is 88.35%. See: https://www.justice.gov/opa/pr/justice-department-announces-....
Many of Madoff's victims exaggerated their loses. If they invested $1MM at a claimed return of 15% for 6 years, they would claim they lost $2MM, not the $1MM principal.
(I just hope our Government doesn't try to bail out crypto speculators!)
Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M
#8> Investigating abnormalities with wallet movements related to consolidation of ftx balances across exchanges - unclear facts as other movements not clear. Will share more info as soon as we have it. From FTX's general counsel[1], retweeted by FTX_Official. So that indicates it's not being sold off legitimately under some sort of liquidation proceedings. It could be insiders or it could be hackers. [1] https://twitte…
> Reports on crypto Twitter are that this is a hack Is that based on some evidence, or is it speculation?
I reworded things to separate the first hand information (FTX_Official indicating they don't know what's going on) from speculation (app hacker rumors).
Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M
#9> Investigating abnormalities with wallet movements related to consolidation of ftx balances across exchanges - unclear facts as other movements not clear. Will share more info as soon as we have it. From FTX's general counsel[1], retweeted by FTX_Official. So that indicates it's not being sold off legitimately under some sort of liquidation proceedings. It could be insiders or it could be hackers. [1] https://twitte…
> Reports on crypto Twitter are that this is a hack
It's really unfortunate to get "hacked" with such bad timing. You steal customer money and file for bankruptcy but now the bad hackers, probably from the Bahamas as well, take whatever is left and cash out. Oh no! /s
But it's alright, SBF said he's sorry.
Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M
#10Knowing little about how ftx works... Is the article talking about customer accounts at FTX being drained? Or accounts belonging to FTX being drained?