FTX’s SBF had a secret 'back door' to transfer billions off the books
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Re: FTX’s SBF had a secret 'back door' to transfer billions off the books
#2They'll all get away clean. Check out Sam's parents, and other attached people...
Re: FTX’s SBF had a secret 'back door' to transfer billions off the books
#3The more I read about this the more insane it gets.
Re: FTX’s SBF had a secret 'back door' to transfer billions off the books
#4There’s also the matter of the hacked funds last night, and the juicy theory that SBF used his back door to steal even more cash. You can’t make it up!
Re: FTX’s SBF had a secret 'back door' to transfer billions off the books
#5This has been some of the funniest few days in recent memory. Even my crypto true-believer HODL maximalist friends are questioning the entire ecosystem and its value.
I think it’s funny that so many people have been hypnotized by get-rich-quick schemes and promises of a utopian monetary system while forgetting what the original —actual— value proposition of crypto was: Buying heroin.
As a corollary to “not your keys not your coins” I submit “if you can’t confidently exchange it for illegal drugs, it’s not a currency”
Re: FTX’s SBF had a secret 'back door' to transfer billions off the books
#6They'll all get away clean. Check out Sam's parents, and other attached people...
Crypto has a strong reputation as a haven for money laundering, drug sales... So if any of the Mexican/South American drug cartels lost a lot of money Sam and the other top management of those companies could end up dead.
Re: FTX’s SBF had a secret 'back door' to transfer billions off the books
#7They'll all get away clean. Check out Sam's parents, and other attached people...
I actually think this blowback is going to hit Sam's parents, who are part of the liberal intelligentsia.
Sam himself is unquestionably going to jail or exile.
Re: FTX’s SBF had a secret 'back door' to transfer billions off the books
#8It's tempting to say he did it or inside job, but things never are as obvious as they seem. Why not just quietly siphon off funds from a cold wallet to his personal wallet? Why use a malicious app at all? This leads me to believe it was not an inside job.
Re: FTX’s SBF had a secret 'back door' to transfer billions off the books
#9They'll all get away clean. Check out Sam's parents, and other attached people...
"SBF convicted of a felony before 2026" is at 87%: https://manifold.markets/mr22222222/sbf-convicted-of-a-felon...
Re: FTX’s SBF had a secret 'back door' to transfer billions off the books
#10[deleted]