News for hackers. Stuff that matters.
Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by FormerBandmate on Saturday November 12, 2022 @12:52PM (#33575324)
Wouldn’t an insider be an expert on crypto markets? They literally ran one
Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by dmurdoch on Saturday November 12, 2022 @01:06PM (#33575435)
No. Not all insiders would necessarily be professionals as covering their tracks post crypto hack. They could just be someone who knew they had access to the keys and said "screw it my life is already horrible lets try this".

Another option is honestly an insider who got screwed (a lot of employees had a TONNE of money on FTX) selling the keys they knew of to someone else.

Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by vkou on Saturday November 12, 2022 @03:17PM (#33576616)
The latter immediately occured to me. It is a lot easier to claim ignorance if your key gets used by someone else to drain the vault, than it is to drain the vault yourself.
Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by lordnacho on Saturday November 12, 2022 @03:56PM (#33576976)
Or they got screwed and thought about how to screw the higher ups even more. They never need to cash out the money to do this.

Nobody will ever not be suspicious of SBF and his inner circle again after this hack.

If it were just a big collapse and it went like an ordinary bankruptcy with the creditors getting a haircut, he'd just be considered an idiot. Money mysteriously vanished? Now he's malicious as well, and any court is going to ask SBF where it went, and even if he didn't know nobody would believe it.

Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by matai_kolila on Saturday November 12, 2022 @01:04PM (#33575423)
Not well!
Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by hnews_account_1 on Saturday November 12, 2022 @02:11PM (#33576045)
1) this is not the market. It’s just blockchain txns.

2) trust me when I say, no one in crypto except some very very select exchanges actually know how to make a market trading software. They think they can compete with NYSE which is large and employs such incredible talent that it still survives in a really tough industry. They’re likely closer to my grad school project, which even I can tell you, sucked absolute balls.

Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by X6S1x6Okd1st on Saturday November 12, 2022 @02:25PM (#33576181)
They may not have been involved in the operations of how to run the software/make the trades/interface, who knows they could just be a physical security person that realized there was an opportunity in the chaos.

I haven't seen any public information that tells us who it might be, this is all guess work, but it really doesn't look like a professional operation like Lazarus Group

Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by bombcar on Saturday November 12, 2022 @02:31PM (#33576228)
1. Not all the insiders are very skilled, as we can see from these things blowing up in expected ways.

2. Even if you ARE a skilled insider, you may have no experience with laundering coin.

3. The biggest/best coin launderer was killed (tornado?) recently, so you may have to learn everything again.

4. You may be an expert with a gun to your head in some basement in God knows where, and trying to not be shot.

Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by hoytschermerhrn on Saturday November 12, 2022 @07:11PM (#33578588)
Source on this tornado comment? This entire story is just so wild that it’s hard to keep up.
Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by bombcar on Sunday November 13, 2022 @09:13AM (#33583242)