News for hackers. Stuff that matters.

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 Thorrez on Saturday November 12, 2022 @02:40AM (#33570974)
You're right that a lot of the risks are due to holding in a central website. But cryptocurrency in a central website is more risky than fiat in a central website, because if a central website gets hacked and the hackers steal fiat, generally those transactions will be reversed, whereas if the hackers steal cryptocurrency, generally those can't be reversed.
[ Parent | on HN ]
Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by peyton on Saturday November 12, 2022 @02:54AM (#33571050)
What do you mean by stealing fiat currency from a central website? How would a website custody fiat?
[ Parent | on HN ]
Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by Thorrez on Saturday November 12, 2022 @03:11AM (#33571149)
I do an electronic transfer from bank A to bank B. I have a balance in bank B. Bank B then gets hacked.
[ Parent | on HN ]
Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by polygamous_bat on Saturday November 12, 2022 @03:10AM (#33571142)
Paypal?
[ Parent | on HN ]