Re:Hackers abuse ‘chaotic’ Nomad exploit to drain almost $20...
by smoldesu on Wednesday August 03, 2022 @01:20PM
(#32334479)
Obviously a lot of these assets are going to tank in value over the coming months; but has anyone considered just how much funding is going to Red Teams with these hacks? It's not like these are non-trivial attacks, either; we've seen dozens of these kinds of hacks over the past year, from a variety of different culprits. It certainly doesn't bode well for the stability of cryptocurrency, but it also makes me wonder what these black-hatters intend to spend it on. Hopefully they're the benevolent type who just gets a rush out of kicking crypto holders in the teeth, but we also can't rule out state-sponsored attacks or the possibility of an organized crypto crime syndicate.
Whole thing is a mess, really. Our domestic investments have been cleanly laundered by a domestic company, and "stolen" by someone who now has $200 million in VC meal tickets. All we can do now is look between our shoes and hope we didn't accidentally fund North Korea or an esoteric terrorist cell.
I just linked the founder of Zellic[0] to this HN thread if anybody has an specific questions about web3 security for him. (they're the web3 security company quoted[1] in OP's TechCrunch article)
Whole thing is a mess, really. Our domestic investments have been cleanly laundered by a domestic company, and "stolen" by someone who now has $200 million in VC meal tickets. All we can do now is look between our shoes and hope we didn't accidentally fund North Korea or an esoteric terrorist cell.
I just linked the founder of Zellic[0] to this HN thread if anybody has an specific questions about web3 security for him. (they're the web3 security company quoted[1] in OP's TechCrunch article)
0: https://twitter.com/gf_256
1: https://twitter.com/Zellic_io/status/1554296729050025984
"Code is law," they told us... and now they are discovering from first principles just how flawed both law and code are.