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

coindesk.com

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

#151

Post by graeme »

fshbbdssbbgdd wrote: post #136
graeme wrote: post #120

Earlier quoted context omitted.

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…

It’s pretty common for apps to load some external content from a server to show to the user. This is useful in part because it allows you to update the content without going through the slow app review process. Potentially, if your backend got hacked, the hackers could change this content.

Sure, but your onboarding flow popup buttons? I don’t think app review allows those to be loaded from a website

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

#152

Post by threeseed »

trophycase wrote: post #110

Where are the regulators and enforcers when we actually need them? How is any high up in this institution not arrested yet? What the hell are they doing? Like is this a psyop to destroy crypto? Is this preferential treatment of SBF due to his donations/regulatory capture? Imagine if there was a mass shooter in a crowd of people and they just let him continue firing until he ran out of ammo, that's analogous to what's…

> Like is this a psyop to destroy crypto

Why would the government get their hands dirty when crypto can self-implode on its own.

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

#153

Post by [deleted] »

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…

[deleted]

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

#154

Post by paxys »

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…

In the short term – yes. More broadly though, large-scale frauds like this one will only result in increasing government scrutiny and regulation, which can actually be good for the crypto investment ecosystem.

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

#155

Post by flylib »

zeven7 wrote: post #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://twitte…

FTX CTO Gary Wang as well has a lot of recent GitHub commit activity in last 2 days and now suddenly the site is hacked https://github.com/garywang

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

#156

Post by [deleted] »

AndreLock wrote: post #66

This is absolutely wild and unprecedented. Imagine being a victim of Madoff's ponzi and - after already being traumatized by the unveiling of the fraud - discovering that the rest of the money had been stolen. Madoff's ponzi was larger, but the recovery rate was 88%. It looks like customers who didn't withdraw in time will end up with 0%.

[deleted]

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

#157

Post by wesapien »

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…

How do you know self hosting people do the thing you're suggesting?

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

#158

Post by [deleted] »

blitzar wrote: post #18
mudrockbestgirl wrote: post #9

Earlier quoted context omitted.

> 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.

In unrelated news SBF just found he had a bunch of crypto in his personal wallet. Totally not at all the pile of crypto that was last seen in the FTX wallet.

[deleted]

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

#159

Post by AustinDev »

xisthesqrtof9 wrote: post #140
AustinDev wrote: post #137

Earlier quoted context omitted.

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 Israel? I’d assume they’d hand him over given their close background no?

There is a history of people committing crimes or being suspected of doing so in US and running away to Israel and avoiding extradition due to their laws.[1] I can gather more examples to illustrate a pattern or at least proclivity but it's late and I'm off to bed.

[1]https://digitalcommons.wcl.american.edu/cgi/viewcontent.cgi?...

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