- Jul 27, 2015
- 5,459
FTX on brink of collapse after “liquidity crunch” at crypto exchange
Binance steps in with deal to rescue arch-rival after surge in withdrawals.
arstechnica.com
Game Over for FTX " Updated "
- Thread starter upnorth
- Start date
Disclaimer: Any information contained on this forum is provided as general market commentary, and does not constitute investment, financial, trading or other sort of advice.
arstechnica.com
- Aug 17, 2017
- 1,488
Binance Walks Away From Deal to Rescue FTX
Crypto exchange Binance said it would walk away from an initial offer to acquire its competitor FTX after a review of the company’s finances.
www.wsj.com
- Jul 27, 2015
- 5,459
Game over for FTX as CEO-founder quits and company files for bankruptcy
Collapse comes after FTX failed to meet surge in customer withdrawals.
arstechnica.com
- Aug 17, 2017
- 1,488
'FTX Has Been Hacked': Crypto Disaster Worsens as Exchange Sees Mysterious Outflows Exceeding $600M
The collapse of FTX, already one of the most spectacular disasters in financial history, worsened as hundreds of millions of dollars were drained from the cryptocurrency exchange hours after it filed for bankruptcy. More than $600 million was siphoned from FTX's crypto wallets late Friday. Soon after, FTX stated in its official Telegram channel that it had been compromised, instructing users not to install any new upgrades and to delete all FTX apps. "FTX has been hacked. FTX apps are malware. Delete them. Chat is open. Don't go on FTX site as it might download Trojans," wrote an account administrator in the FTX Support Telegram chat. The message was pinned by FTX General Counsel Ryne Miller.
Hours later, Miller disclosed in a tweet that FTX US and FTX.com had been moving all their digital assets to cold storage because of the Friday bankruptcy. "Process was expedited this evening – to mitigate damage upon observing unauthorized transactions," he said.
www.coindesk.com
The collapse of FTX, already one of the most spectacular disasters in financial history, worsened as hundreds of millions of dollars were drained from the cryptocurrency exchange hours after it filed for bankruptcy. More than $600 million was siphoned from FTX's crypto wallets late Friday. Soon after, FTX stated in its official Telegram channel that it had been compromised, instructing users not to install any new upgrades and to delete all FTX apps. "FTX has been hacked. FTX apps are malware. Delete them. Chat is open. Don't go on FTX site as it might download Trojans," wrote an account administrator in the FTX Support Telegram chat. The message was pinned by FTX General Counsel Ryne Miller.
Hours later, Miller disclosed in a tweet that FTX US and FTX.com had been moving all their digital assets to cold storage because of the Friday bankruptcy. "Process was expedited this evening – to mitigate damage upon observing unauthorized transactions," he said.
'FTX Has Been Hacked': Crypto Disaster Worsens as Exchange Sees Mysterious Outflows Exceeding $600M
FTX officials appeared to confirm rumors of a hack on Telegram, instructing users to delete FTX apps and avoid its website.
- Mar 29, 2018
- 7,106
This fiasco will damage the whole crypto scam. "Oh, but it's a great way to make money!" Speculators are scammers. Word!
More info about this terrible event:
unusualwhales.com
This is of interest to me because of the mining effects on the gpu market. But no one on the outside looking in could have foreseen this.
At least $1 billion of client funds missing at FTX
Per Reuters: At least $1 billion of customer funds have vanished from collapsed crypto exchange FTX, according to two people familiar with the matter. The exchange's founder Sam Bankman-Fried secretly transferred $10 billion of customer funds from FTX to Bankman-Fried's trading company Alameda...
unusualwhales.com
This is of interest to me because of the mining effects on the gpu market. But no one on the outside looking in could have foreseen this.
- Jun 24, 2016
- 2,400
They are saying my dude CEO of FTX mysteriously took his private jet and flew right from home to Argentina, immediately after his clients' billions dissapeared from their accounts.
Has Sam Bankman-Fried escaped to Argentina after FTX collapse? What we know
On the morning of Saturday, November 12, reports and rumors surfaced on social media that former FTX CEO Sam Bankman-Fried has reportedly left his residence in
www.aviacionline.com
- Aug 17, 2017
- 1,488
Can confidential computing stop the next big crypto heist?
Tech giants and startups hype next big thing in security
www.theregister.com
Last edited by a moderator:
- Mar 29, 2018
- 7,106
Who wants to protect crypto? The sooner it's brought down, the better.Amid the theft of billions of dollars in cryptocurrency over recent months, confidential computing may have a role in protecting people's money in future.
Confidential computing aims to isolate sensitive data and code without exposing it to the rest of the host system – including other applications and users, any rogue insiders, intruders, malicious administrations, and compromised kernels and hypervisors. It does this by processing data out of sight in private memory using hardware-based secure enclaves.
Fireblocks is one firm of many that focuses on digital asset infrastructure for banks, cryptocurrency exchanges, NFT marketplaces and other organizations that want to build blockchain-based products. And it argues that secure enclaves, when implemented properly and with the right host support, can be used to safeguard valuable secrets from intruders, compromised software, and malicious insiders.
"When you think about digital asset security, the first thing that you need to protect is the private key of the wallet," Fireblocks co-founder and CTO Idan Ofrat told The Register.
Can confidential computing stop the next big crypto heist?
Tech giants and startups hype next big thing in security
- Jun 14, 2011
- 1,790
Why? And don't get me wrong - I don't have a formed opinion about cryptocurrencies just trying to understand why subject of crypto's is such polarizing.
- Mar 30, 2022
- 225
The only purpose of cryptocurrencies is to allow ransom payments to criminals. Also, power consumption is irresponsibly high for these types of currencies.
- Mar 29, 2018
- 7,106
It's at its core just another form of speculation, which is one huge factor creating the huge wealth gap in countries worldwide, e.g. the crisis in agriculture driving out small and medium size farmers. See for instance Farmland Values Hit Record Highs, Pricing Out Farmers
Speculators are the enemy even of the the classic capitalist. True capitalists are those who invest in order to produce actual goods or services. Speculators are only in it for the money and care not the least in creating anything of substance, driving up prices in all sectors of the economy. They are no friend to anyone. Word.
- Jul 27, 2015
- 5,459
That's a very fair question and several good threads with deeper articles/reports about it you can find here:
Crypto, NFTs & Blockchain Discussions
Discussions about cryptocurrencies, NTFs, and blockchains.
malwaretips.com
- Jul 27, 2015
- 5,459
FTX collapse prompts other cryptocurrency admissions
Bankruptcy filing for $32 billion firm follows inability to give customers their money
www.theregister.com
- Jun 14, 2011
- 1,790
Fiat money is used for wars, drugs, hitmen etc.. Goverment/bank can do whatever they want. If things are F UP, they just print more and makes our life more difficult.
And guess what? You buy food with this money.
How HSBC laundered Mexican drug billions and got away with a fine
It’s difficult to know what infuriates Chris Blackhurst most about HSBC’s laundering of Mexican drug cartel money, for which it paid a US$1.9 billion fine in 2012.
www.scmp.com
"crypto is just for criminals" and stupid argument. Every transaction is booked on blockchain, which makes it even harder to hide money.
What FTX did is criminal and they should end up in jail. But funny thing is, regular banks do the same thing with our money, but they are covered by state/goverment aka tax money.
- Mar 30, 2022
- 225
The flow of money can be seen in the blockchain, but it is anonymous. In addition, criminals commonly route the money through intermediaries who split and redistribute the cryptocurrency. In this way, the origin and whereabouts are further obscured. It is very complicated and costly for law enforcement agencies to track these avenues. This is why cryptocurrencies are so popular with extortionists. Only when the money is exchanged back into normal money does law enforcement have a chance of discovering the recipients in the real world.Fiat money is used for wars, drugs, hitmen etc.. Goverment/bank can do whatever they want. If things are F UP, they just print more and makes our life more difficult.
And guess what? You buy food with this money.
How HSBC laundered Mexican drug billions and got away with a fine
It’s difficult to know what infuriates Chris Blackhurst most about HSBC’s laundering of Mexican drug cartel money, for which it paid a US$1.9 billion fine in 2012.
"crypto is just for criminals" and stupid argument. Every transaction is booked on blockchain, which makes it even harder to hide money.
What FTX did is criminal and they should end up in jail. But funny thing is, regular banks do the same thing with our money, but they are covered by state/goverment aka tax money.
If you think cryptocurrencies and their owners on the blockchain are so easy to track, then you should contact law enforcement. They will be very grateful if you share your valuable knowledge with them.
Don't worry law enforcement knows about that. They can order to freeze funds/transactions and wallets can get blacklisted.
Every transaction is traceable. Why do you think hackers returned millions back? Because they are nice people?
Maybe they can hack, but is much harder to hide money.
Crypto is traceable, cash is not. If you want to bribe someone, put money in envelope. If you want to buy/sell drugs or anything illegal, cash is the king. Not traceable.
It's much harder to be criminal in crypto.
Every transaction is traceable. Why do you think hackers returned millions back? Because they are nice people?
Maybe they can hack, but is much harder to hide money.
Crypto is traceable, cash is not. If you want to bribe someone, put money in envelope. If you want to buy/sell drugs or anything illegal, cash is the king. Not traceable.
It's much harder to be criminal in crypto.
Happened to come across this and I'm like: who is this nerdy-looking woman and what does she have to do with FTX? Seems to get a little sordid down the road and that's hardly surprising.
Caroline Ellison is a math whiz, trader, and the shadow figure behind FTX's collapse — here's how a devout Harry Potter fan came to take part in crypto's biggest implosion
Caroline Ellison is a math whiz, trader, and the shadow figure behind FTX's collapse — here's how a devout Harry Potter fan came to take part in crypto's biggest implosion
- Jul 27, 2015
- 5,459
FTX founder Sam Bankman-Fried arrested in Bahamas
FTX filed for bankruptcy last month, leaving many unable to withdraw their funds from the cryptocurrency exchange.
www.bbc.com
