Live data from Hacker News

Hackers have withdrawn ~4k BTC (~$320M) from the Liquid Federation wallet

twitter.com

61–70 of 101 posts

Re: Hackers have withdrawn ~4k BTC (~$320M) from the Liquid Federation wallet

#61
post #58

There’s kind of an interesting thread here about open source, which is usually thought of as more secure because of more eyes on the code, actually being less secure because an accidental merge can be exploited instantly with LLM’s monitoring. Is there a lot more security value in obscurity than before?

Maybe there's a middle ground where the code itself is only made visible at the same time as the latest build.

This shortens the exploit window

Re: Hackers have withdrawn ~4k BTC (~$320M) from the Liquid Federation wallet

#62
post #5
post #3

Why do they say it's white hat hackers?

Purported white-hat hackers. The implication is that these people are presumably describing themselves as such, but it may not actually be true.

This is funny. Is this analogous to finding a wallet on the street and returning it (in my locale: and getting a finders fee), or is this analogous to taking a wallet from a drunk sleeping person (morally dubious), contacting them the day after to return the wallet, or is it just stealing per se.

Where I live it's only theft if there is an intention to unlawfully take ownership of the good. As an example, forgetting to pay in a supermarket lies exactly on that boundary. Take a cart or hide a product and you won't get away. Try to pay, payment fails and you don't notice, walk away and get apprehended and you might convince the judge that you had no intention to unlawfully take ownership.

Re: Hackers have withdrawn ~4k BTC (~$320M) from the Liquid Federation wallet

#63
post #50
post #27

One disadvantage of decentralized money, criminals gain more power. Many such cases

I'm not sure if there is actually any evidence of this? Criminals do very well without crypto. If you look at percent of the economy that is fraudulent, it is quite large. If you look at percentage of crypto economy that is fraudulent, it is surprisingly similar

Plenty, search for cases of ransomware for example, you will find hundreds of instances where they demand payment by cryptocurrency, at least 1B per year.

Re: Hackers have withdrawn ~4k BTC (~$320M) from the Liquid Federation wallet

#65
post #58

There’s kind of an interesting thread here about open source, which is usually thought of as more secure because of more eyes on the code, actually being less secure because an accidental merge can be exploited instantly with LLM’s monitoring. Is there a lot more security value in obscurity than before?

Maybe there's a middle ground where the code itself is only made visible at the same time as the latest build. This shortens the exploit window

There are some projects that only release sources as a flat tarball at the same time as a new release, no git history/repo is available.

Re: Hackers have withdrawn ~4k BTC (~$320M) from the Liquid Federation wallet

#67

[flagged]

Great, blog spam comments on HN now? Where is the "Cry that no independent regulator audited their systems and that the transactions were not reversible" coming from? Neither the Twitter thread nor the HN comments even mention anything about this, just the typical argument against yourself?

Re: Hackers have withdrawn ~4k BTC (~$320M) from the Liquid Federation wallet

#68

[flagged]

Great, blog spam comments on HN now? Where is the "Cry that no independent regulator audited their systems and that the transactions were not reversible" coming from? Neither the Twitter thread nor the HN comments even mention anything about this, just the typical argument against yourself?

I am just saying that this would not happened with a normal bank. Pure DeFi structural deficiency.

But I see how polarized you are about the topic.

Re: Hackers have withdrawn ~4k BTC (~$320M) from the Liquid Federation wallet

#69

Earlier quoted context omitted.

Great, blog spam comments on HN now? Where is the "Cry that no independent regulator audited their systems and that the transactions were not reversible" coming from? Neither the Twitter thread nor the HN comments even mention anything about this, just the typical argument against yourself?

I am just saying that this would not happened with a normal bank. Pure DeFi structural deficiency. But I see how polarized you are about the topic.

> I am just saying that this would not happened with a normal bank

Ok, but who were you quoting before? I too see how polarized your view seems to be, given you started this conversation with arguing against yourself for some reason.

Post reply on HN