ABOUT THAT $600,000,000 CRYPTO-CURRENCY HACK
This article was spotted and shared by T.M. (thank you!), and for me, it's a bit of an "I told you so." One of the early "selling points" for crypto-currencies was the difficulty of hacking them. Now, I've been one of those who have been arguing that there is (1) no system that humans don't inevitably find a work-around, and (2) this is especially true of cyber-systems, and (3) the confident predictions of "science" usually fall by the wayside at some point. I remember reading somewhere that when railroads first started making their appearance, that some "experts" assured us that the human body would never be able to withstand speeds greater than 30 m.p.h. The RMS Titanic (or if you prefer, the Olympic) was said to be unsinkable. Another "woops". The Castle Bravo hydrogen bomb test ran away far beyond its predicted yield because (so we were told) the lithium-7 in the fuel was not thought to be able to enter the fusion reaction. Yet another "woops." Mankind would never be able to fly heavier-than-aircraft. One more woops.
If anything emerges from this, it's that history is littered with such confident predictions.
This time, the "crypto-currency security" narrative cost about $600,000,000:
More Than $600 Million Stolen In Ethereum And Other Cryptocurrencies—Marking One Of Crypto’s Biggest Hacks Ever
Hackers allegedly breached blockchain-based platform Poly Network and extracted more than $600 million in cryptocurrencies on Tuesday, the company announced on Twitter, marking the biggest hack ever in the decentralized finance space that’s heating up among investors.
There's something about this incident, however, that bothers me. Obviously, a crime was committed. And like all crimes, the solution to "Whodunit?" is the time tested method of means, motive, and opportunity: who had the means, the motive, and the opportunity to commit the crime? $600,000,000 would certainly qualify as motive. What I'm wondering about is means. Needless to say, I'm no cyber-techie-type, and know next to nothing about crypto-currencies and cyber-security in general. That said, it seems to me that anyone stealing that amount of "money" wouldn't be so careless as to leave easily traceable email and IP addresses, device fingerprints, and other "identity clues." This alone raises several issues. Let's suppose this really was an amateur job, say, some kid in his bedroom playing around on his computer. If so, then that in my opinion raises a big red flag about cryptos: who wants to have their "wallets" frozen while the app company sorts out the mess? It strikes me as the cyber equivalent of a bank run. And if some kid in a garage can do it, what about more "professional" hackers, such as those employed by large corporations or governments?
Conversely, let us suppose that the "identity clues" prove to be a veritable labyrinth, and the work of an obvious professional or professionals? The same situation applies, and then some, and the article informs us that $33 million was frozen, and another $5 million returned by the hackers, leaving the bulk of the $600 million somewhere in cyber limbo for the moment.
So the bottom line here for me is that there's a lot not being said here, and that pushes my suspicion meter into the red zone.
See you on the flip side...
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With all due respect you are kind of like the guys who said heavier than air planes would never work.
Crypto does work and it is our primary lifeboat out of this current mess. Just because planes sometimes crash doesn’t mean airplanes don’t work. There are tons of blockchains with value locked in them that are essentially still in the testing phase or were created by amateurs.
There are also cryptos out there that can be 100% anonymous (Zcash and Monero) and other privacy focused Turing complete blockchains are being added to the ecosystem. These will be essential to upending the globalist cabal.
I think you missed Joseph’s main point here, my friend.
Joseph and his trains.. country simple logic as the foundation of reasoning as to how and why the world is going to hades in a basket at ever increasing speed. As I put it to someone recently.. I hope one of our visitor friends is ready to step in to save us from what’s coming next. I mean, everything up to this point has happened with what could be supposed as.. permission.
Anyways.. who can even keep up with the number of ongoing wars (seen and unseen)? AI versus AI (versus AI..)? Likely. An absurdly valuable hack by one of those less-than-evil super elite meant to be a slap on the wrist and learning lesson? Maybe.
Feel free to play, children. Just don’t violate the few choice rules of our playground.
“We didn’t start the fire
It was always burning, since the world’s been turning.”
I find it hilarious that cryptos and precious ( gold silver) and oil markets are valued in fiat toilet dollars.
As com’on man use to say, Come’on man!
One word in the article stands out above all others….”allegedly”. 🙂
Yeah.. how about that… ???….????
Mr. Central Banker: “You don’t want those digital currencies — look at all the hacks. You want ours. It’s secure and backed by the full faith and credit (ha!) of your national government.” Along the lines of J. Skuba’s comment.
Crypto-currency an embezzler- swindler wet dream electronic counterfeiting all that needed is how to work a computer. The stuff that dreams are made of The Maltanize Falcon.
Right. Everything digital is hackable. What’s worse is that governments are increasingly all about surveillance and control and digital national currencies facilitate both. If and when any government with strong hack skills perceives that cryptos are a threat, or even an annoyance, they’ll hit them.
Yep, It’s inherently designed to be a swindler tool by just the fact folks are enabled to speculate in its value.
Two possibilities occur to me. This is prep for the big hack psy-op that will burn down the economy and enable the Obliviated to terraform the economic system–and thus the World–to suit and reflect their interior psychopathy…. Or their are other factions trying to sabotage the digitizing elements of the…Cultural Revolution. Organized crime, splinter CIA groups–such as drug runners who prefer cash, large business entities on the wrong end of change, those who know that they won’t get a berth in an Ark and those who have been excluded by the Breakaway Civilization, as well as those who have been betrayed by it. Certainly, there are many parties to blackmail, and many groups quietly possessing the means –not just to throw serious wrenches into the works and the homeostasis of the Ignorati and their Handlers–but to destroy the entire biosphere and even the planet itself. The way I understand it, if Time Travel has been used to change the past and the future, then it has always been used to change the past and the future. Stopping other people from developing and using such a phenomena, would then become a Priority, but…with Time Travel, getting their first is very tricky. Especially, if you are using a technology arising from protracted History and are continuously running into people and other beings who have always already been doing it with their minds, souls, and consciousness. A side effect of changing things, is that you then create alternate realities or dimensions. Time, being part of consciousness, may try to assert or retain itself and its integrity. Thus you have the so-called Mandela Effect. I wonder if someone with MAD skills and access to a likeness of thought, could analyze history and determine the likelihood of alteration. I have no way of rationally proving this, but my intuition and the echoes of memory tell me that things have been changed…or that different realities are vying for dominance in more than just the “usual” manner, or that they’re merging–perhaps mating like sperm and egg or less romantically, through digestion. One thing that occurs to me is that these injections of magnetic field affecting nano-tags may influence which reality you wind up in. They could be meant to hold you in one of them–or at least allow someone to identify you if you are some sort of Illegal Alien in the wrong dimension. It seems far fetched. The intent seems to to be to control and kill us….but just maybe we’re looking at a more realistic take on say, The Left Behind, Rapture Bit…. That’s not really my bag, but science has been getting weirder and more “out there” all the time. Whether it is Super Duper Physics, Computing, or the banal infectious flatulence of those who speak in backside word balloons to transmit their Viral Religion…sort of like a respiratory virus that can now be transmitted through aerosolized shit…. Farts of a particular olfactory malevolence will henceforth be known as GRANDMA KILLERS…. Face nappies/diapers will now give way to Depends…. In such a world, anything at all is possible. Best, Chris
How would one store let alone spend that much?
Why would one steal ao much as to devalue the stolen property?
Who might profit from foreknowledge of such a theft?
How often have banks stated fraudulent numbers after a theft?
What happens if more comes back than went out?
Has anyone ever heard of insurance on such funds?
Asking for a friend.
Inside job…getting out while the “getting” is good.
A fair generalization of access, connectivity, goals, and resources.
Pricey crime alright. Weak links (or ineffectual security practices), probably contributed toward a multi front hit, as well as feeble operating system bugs that most likely had zero-day timing to be effective.
Been working a couple of hypotheses (probably end up one big one) for why certain spotty anomalous activities have been occurring just below the proverbial network RADAR. One factoid is [when] that has been determined. Another is that not all catch and go data snags do a good job at xeroxing downloads with a tweak.
Wired, wireless, and mobile units seem to play a factor which is not anything new as they’re part of today’s communications networks and have been for some time. Scuttle-but has it that there are quite a few operations in place and are best left alone from tinkering curiosity types. Adorning a favorite [hoody] won’t do. Also, it would seem the bugs are not well known, either, from all angles, which yields the unexpected by and toward all players gaming the game. That’s a “WOPR” in itself.
Not one to add a flashpoint to your “high octane speculations” but disposable (hit & run) “identity clues” from crafty coding engineers would seem as one likely source of several with unwitting help by sloppy enthusiasts pounding away on their tap screens and keyboards included. The stakes as noted were quite high and that sort of cash goes a long way for an inexpensive “cyber army” that’s strategically and tactically trained for such missions. Over night millionaires no doubt. Begs the question of how many how soon. And how about that nifty hardware to go.
Speed is key with those transactions and those folks with the nifty hardware, connectivity, and engineering expertise do not seem to point to a basement harbored dude with little else to do. Then again, there’s probably a few that have their sights on early retirement now from their basements, dorm rooms, and nation state facilities. Bet those folks know something about the coffers of Wall St and operators on K St.
*(Site still ghosted; unable to access profile when signed in between the HTML glitches)*
Logic suggests that computer/ digital security is a steaming load of Dog dew on the hot summers day sidewalk of reality. Anything to do with digital financial instruments is ultimately about control and a scam by its very nature. We have computer voting too and its a crock of crap. Computerized medical records will be misused, our cars will be taxed for millage, our shopping will be more dependent on our Social Media scores than how much we have in the bank.
We love our computers and gadgets— we love them! They are our jailers! Digital dependency will be, and is our downfall.
Law enforcement of digital corruption needs to catch up with a seemingly increasing number of those cyber skills to place a check on the greater system. Of course, one super Carrington event will not just fry wires but zap chips as it arcs across those presumably sophisticated and hardened electronics.
Well said Blair Phillips!
There are a variety of science “wops!”:
1) the ones described in this blog.
2) the ones the breakaways hold back; enabling the “woops science” to be taught in schools, universities & colleges; plus practiced in the real world.
3) the Fauci/Gates “woops science” to dumb-down the masses; all the better to control them through media entrainment and mind control. After all, if the masses knew simple science, this wouldn’t happen[virus size].
So, what is science?
What Simon Says, Science Is …
Simon Says crypto currency is …
Also, the Simon Says media/government synergy syndrome can identify criminals and at stroke of the digital keyboard.
Simon Says that pedophile investigator, that was getting too hot damn close to the international ring’s inner circle was…?
A pedophile! Well, imagine that?
“They” have “Simon Says” manufactured digital proof, beyond reproach.
The cyber criminals belong to the same criminal syndicate, running the covid1984 op. The same criminal syndicate that is currently attacking the global three real democratic boxes: the soap box; the ballot box, and the ammo box. The same criminal syndicate that assassinated JFK, and stole the election from The Donald. The Simon Says syndicate rules.
And they have the gold, and saying they’ll have that $$$$ asteroid too.
Now the money’s coming back. Believe what you will about motivations…
Good point… if that be the case, what WAS the motivation?
I don’t know the motivation.
Perhaps “they” just got the point;
making them a transmitter and/or receiver?
Somebody sending messages? A warning shot across the bow?
If it really is not about the money, then somebody firing a shot across the bow as a warning message would be my best guess, too. But who, why and about what? If it really was about having found a flaw in the architecture rather than about the money, then surely an email to Poly Network could have brought the flaw to their attention. So perhaps nothing more sinister than a financially-independent hacker with an egregious ego?
This is what we call an “exit scam” in the parlance of cryptography people. (please forgive my eternal soul for demanding a decentralized, distributed, way of accounting – ACCOUNTABILITY IS NOT UTOPIAN.
The ‘hack’ is performed by a developer or service person within the organization. These people are allowed access to a hot wallet and finally cave to the temptation of sending
insert_value_of_xto their own, personal wallet.
Whereas, the blockchain can easily be used for THE BEAST SYSTEM.
Whereas, the blockchain/network MUST BE CHOSEN BY THE PEOPLE.
Whereas, corporate/gov. chains are slave CHAINS TO ETERNAL DAMNATION.
I DEMAND A BETTER WAY TO ACCOUNT.
This hack smells of Bankers wanting to destroy any sort of confidence in crypto. Yet the bankers want their exclusive brand of digital crypto to prevail and under their control. This article is very spoofish!
Effective if not [spoofish].
Six million is bullion of sentiment.
With pity coins, one can buy sympathy.
Beggar’s currency is a whole lot of nothing.
Curiouser and curiouser, according to Zero Hedge, the hacker has voluntarily already returned more than half of what was stolen. The hacker is reported as saying that returning the money “was always the plan,” and that “finding the flaw in the architecture of the Poly Network was one of “the best moments in my life.””
Sounds like the 80’s movie War Games … Defcon 5 anyone?
Certainly a “WOPR.”
So… was just demonstrating the hack was possible the motivation? It seems like it if Zero Hedge is correct.
So much smoke, so many mirrors. Could be an exit scam, as Peter suggests above. Could be the hacker’s ego. Could be somebody’s op. Could be a lot of things! One more dot looking for a connection!
Wondering about the remaining half of the money, and the “plan” for it.
Market manipulation. A lot of people are moving into various crypto currencies putting more pressure on an already fragile market and petrodollar. International relations is a powder keg. Unfortunately, there are not a lot of angles of attack available on the larger blockchains. This particular attack seems to have been done through some kind of phishing exploit on the parent organization which exposed the wallet of the institution. The block chain did not get exposed however. Their computer systems was hacked which exposed their accounts rather than the cryptography of the blockchain itself. They were careless I think.