Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

FTX faces potential hack, sees mysterious outflows totaling more than $600M

coindesk.com

Post reply on HN
Print view View original

141–150 of 890 posts

Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M

#141

Post by trollied »

graeme wrote: post #120
rippercushions wrote: post #48

It gets worse: somebody has pushed what appears to be a malicious update to the FTX app, and the official FTX telegram channel is warning people not to even browse to the website! https://twitter.com/zachxbt/status/1591293813519253504

I’ve been trying to figure out the technicalities there. Neither the ios nor android apps have updates since the crash. The update box is clearly based on their pre existing popup used for things like 2FA. Could this popup have been modified with new text and linked to a new malicious site without an app update on ios or android? Or, could the popup only function if it was already coded into the app waiting to be act…

Lots of apps these days are merely shells for web content that is hosted elsewhere.

Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M

#143

Post by colechristensen »

YossarianFrPrez wrote: post #116

Regardless of whether you are pro- or anti- crypto, the collapse of FTX, SBF's bubble bursting in a rather extreme fashion, and now this hack are more nails in the coffin for mainstream support. I am no fan of crypto myself, but it's interesting to think what would have to happen for crypto to burnish its image. Would key people have to voluntarily form some sort of coordinating council and self-regulate? Would they…

Crypto that doesn’t suffer from these kinds of failures is boring. It looks like traditional banking with a different API. Exciting maybe for banking nerds, but not so much for anyone else. Ultimately though blockchain ledgers will probably only be long term useful for record keeping between small closed groups of independent entities like banks settling overnight balances between themselves. It’s never going to be entirely algorithmic as there is always the chance of mistake or failure which needs human judgement to correct.

Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M

#144

Post by raverbashing »

mudrockbestgirl wrote: post #130

According to the latest reports, SBF is potentially on the run on a private jet [0] from the Bahamas to (probably) Argentina. He hasn't been confirmed to be on that plane, but it seems likely. This stuff is straight out of movie. [0] https://www.flightradar24.com/LVKEB/2e2e7cfd

But was he really in the Bahamas before? Or somewhere in the US

Argentina is an... interesting choice, and I'm sure he'll adapt just fine to the place and the bureaucracy and also there's no guarantee that's a safe haven in any way.

Edit: flight is showing as n.1 being tracked worldwide

Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M

#145

Post by notch656a »

sb057 wrote: post #99
datalopers wrote: post #54

SBF and Caroline (and probably Trabucco) probably already on their way to non-extradition countries and taking what little cash remains with them. They'll end up in prison if they don't.

The problem with countries that don't extradite to the U.S. is that assassinations tend to be woefully easy.

And extraordinary rendition.

TBH if you look at the data the US doesn't extradite that liberally. Even the Liberian torturer son of Charles Taylor or whatever was safe in the Caribbean despite being extraditable; as long as you didn't commit murder or do something big on the public radar or make political enemies or steal too much money I get the impression the US government doesn't try too hard. But they will definitely try to extradite this fella.

Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M

#146

Post by [deleted] »

mudrockbestgirl wrote: post #130

According to the latest reports, SBF is potentially on the run on a private jet [0] from the Bahamas to (probably) Argentina. He hasn't been confirmed to be on that plane, but it seems likely. This stuff is straight out of movie. [0] https://www.flightradar24.com/LVKEB/2e2e7cfd

[deleted]

Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M

#148

Post by foogazi »

douglaswlance wrote: post #133
YossarianFrPrez wrote: post #116

Regardless of whether you are pro- or anti- crypto, the collapse of FTX, SBF's bubble bursting in a rather extreme fashion, and now this hack are more nails in the coffin for mainstream support. I am no fan of crypto myself, but it's interesting to think what would have to happen for crypto to burnish its image. Would key people have to voluntarily form some sort of coordinating council and self-regulate? Would they…

This isn't a crypto failure. Crypto works. This is a human failure. FTX didn't collapse because of the technology. It collapsed because of human error. The fix is rather simple. If an organization looks like a bank and quacks like a bank; it should be regulated like a bank.

> This is a human failure

Is there any crypto out there without humans ?

Is there an undo button to reverse the transaction?

All financial systems involve humans

Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M

#149

Post by paxys »

AustinDev wrote: post #137
mudrockbestgirl wrote: post #130

According to the latest reports, SBF is potentially on the run on a private jet [0] from the Bahamas to (probably) Argentina. He hasn't been confirmed to be on that plane, but it seems likely. This stuff is straight out of movie. [0] https://www.flightradar24.com/LVKEB/2e2e7cfd

If he is in fact on the run... Does this dude really think the CIA and FBI won't find him? He's likely not safe anywhere but Russia, China, North Korea or Israel.... maybe Pakistan.

Why would the CIA and FBI care? It's not like they are going to send Navy SEALs after him. This is a DoJ matter, and the most they will do is file extradition requests. If the country he is in decides to ignore them, well that's about it.

Re: FTX faces potential hack, sees mysterious outflows totaling more than $600M

#150

Post by the-anarchist »

bsder wrote: post #125
gasull wrote: post #102

To all the people replying that crypto isn't regulated: that's a myth. Exchanges are regulated and keep KYC info of their customers. If the FTX hack is true, then all that KYC info will be sold in the black market. Regulation didn't prevent the hack (or rug-pull?). Self-custody with DeFi does prevent it. It's shocking how some people are for tinkering hardware/software and self-hosting services like Nextcloud, but it…

The difference is that when a bank gets robbed, I can still go get my money back via the legal system. When a crypto exchange or a crypto wallet gets robbed, you have nowhere to go to get your money back. There are good reasons why we don't keep large amounts of cash in our pockets or in our mattresses.

Good luck getting your money through the legal system when the bank collapsed!
Post reply on HN