FTX stored private keys to crypto assets in plaintext, without access controls

Re:FTX stored private keys to crypto assets in plaintext, wi... by startupsfail on Monday April 10, 2023 @01:19PM (#35514699)

Cryptocurrency is over complicated, very wasteful funny paper, not real money.

It had been there for more than a decade, yet all it had generated was fraud, Co2 emissions, wasted and burned GPUs and useless mining of crypto hashes.

Not a single penny of real wealth created out of that. Just waste and fraud.

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Re:FTX stored private keys to crypto assets in plaintext, wi... by clownpepe on Monday April 10, 2023 @01:21PM (#35514725)

Right….

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Re:FTX stored private keys to crypto assets in plaintext, wi... by verytrivial on Monday April 10, 2023 @01:55PM (#35515160)

Hey, and just like legacy/fiat currencies, it has made a tiny subset of often nefarious actors inexcusably rich while doing nothing for society, but for Good Reasons, right? Such an improvement!

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Re:FTX stored private keys to crypto assets in plaintext, wi... by Tepix on Monday April 10, 2023 @02:39PM (#35515760)

I'm pretty sure that some Venezuelans and Chinese people have used it successfully to smuggle wealth outside their countries.

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