$477M FTX ‘hack’ was a Bahamian government asset seizure • Hacker News Board

Re: $477M FTX ‘hack’ was a Bahamian government asset seizure

#241

Post by throwoutway » Sun, Nov 20, 2022, 3:23 AM UTC

yokem55 wrote: post #214

verteu wrote: post #186

There was definitely a hack (perhaps in addition to government action). The FTX holdings database was wiped, and malware was hosted on their website and mobile apps: https://www.coindesk.com/business/2022/11/12/ftx-crypto-wall...

Yeah, the ftx coins were moved to two addresses. One is the one most folks were watching, where most of the non-eth funds were sold to eth on decentralized exchanges, and sometimes at really high slippage. The stable coins were all converted to DAI, which doesn't have any blacklist feature. This address is also a basic private key wallet, like metamask, not a multisig or contract wallet. None of this sounds like a re…

A hack or an insider? Sounds more like an insider to me

Re: $477M FTX ‘hack’ was a Bahamian government asset seizure

#242

Post by fuzzfactor » Sun, Nov 20, 2022, 3:59 AM UTC

jbirer wrote: post #239

That's pretty smart. The Bahamian government "seizes" the money, takes their cut, you get the rest, and you can claim your money was seized instead of having to incur the legal risk of moving that money yourself.

The Bahamas has a lot of sharks, and they've got more appetite for things they didn't used to have so much when it was still a British Crown colony.

When there's blood in those waters it's a lot more likely there's going to be a feeding frenzy.

Re: $477M FTX ‘hack’ was a Bahamian government asset seizure

#243

Post by mod » Sun, Nov 20, 2022, 4:49 AM UTC

LiquidSky wrote: post #96

mod wrote: post #91

Earlier quoted context omitted.

Sure, but you've made that choice ahead of time. And it doesn't move the coins.

And you can chortle over that in your jail cell to your heart's content.

Oh no, not me buddy. See my other comments. I would give away every penny to avoid jail. No wrenches, either, thank you very much.