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A comment on FTX US’s wallets appear to be hacked, $600M leaving the exchange. Parent comment

Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by paxys on Saturday November 12, 2022 @01:55AM (#33570729)
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.
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Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by YossarianFrPrez on Saturday November 12, 2022 @02:04AM (#33570792)
Hmm, tbh, that's a point I hadn't fully considered. To flip your point around, what hypothetical scenario would be bad for the crypto ecosystem long term?
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Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by paxys on Saturday November 12, 2022 @02:10AM (#33570833)
- Bugs or some fundamental/unfixable exploits in bitcoin algorithms

- Successful or semi-successful 51% attack (maybe state sponsored)

- Global energy crisis/crackdown on mining

- Global economic crisis of the scale where people desperately need cash/commodities and can't waste their money in speculation

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Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by YossarianFrPrez on Saturday November 12, 2022 @02:39AM (#33570973)
While I agree that those things would harm the popular perception of crypto, continued fraud, theft, and greed are also doing so too.
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