[HN Gopher] FTX hacker identity discovered by Kraken Exchange team
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FTX hacker identity discovered by Kraken Exchange team
Author : throwup
Score : 70 points
Date : 2022-11-12 21:31 UTC (1 hours ago)
(HTM) web link (cryptoslate.com)
(TXT) w3m dump (cryptoslate.com)
| mjr00 wrote:
| At this point you have to apply Occam's Razor... it's hard to
| imagine this is anyone but SBF trying to liquidate as much as he
| possibly can before moving to a country without an extradition
| treaty. He's allegedly also trying to sell his stake in RobinHood
| through back channels[0], which would support this.
|
| And I mean, at this point he's so legally fucked it doesn't
| really matter if he gets caught doing this, so there's no need to
| be subtle about it. For him, sloppy is fine if it's quick.
|
| [0] https://twitter.com/Loopifyyy/status/1591489987459297282
| lvass wrote:
| s/SBF/SBF or one of his 10 polyamorous roommates.
| babyshake wrote:
| This whole thing is so bizarre. It is almost like Brian
| Armstrong or Jesse Powell exit scamming their respective
| exchanges, or perhaps my impression of SBF has been completely
| wrong. If SBF does intend to be a fugitive, does he really
| think this is going to end up OK for him?
| nemo44x wrote:
| He's probably in the panic/negotiation phase of it all. He
| knows he's cooked but possibly he can escape with enough
| money to pay the right people in the right places what they
| need to secure passage for himself.
| shiado wrote:
| Your impression was wrong. Zhu Su of 3AC infamy had the
| evidence sitting on Twitter since 2019 and nobody cared.
|
| https://twitter.com/zhusu/status/1116945693946433536
| sillysaurusx wrote:
| He really thought FTX US was solvent less than 24 hours
| before declaring bankruptcy. Either he's a fraud or he's
| clueless. Either way, he's not thinking, let alone whether
| he'll end up ok.
|
| I'm struggling to phrase this in a high brow way, but being
| the son of powerful parents might be a factor too. It's
| possible that this is the first time in his life that anyone
| is telling him not to do X for an X he really wanted to do.
|
| Him being the second largest donor to the Democratic Party
| will really test the rule of law. Does it apply to the
| powerful? We'll see.
| wslh wrote:
| I think jail is the most secure place to him, IMHO if he
| doesn't end up in jail someone will kill him, he screwed good
| and bad actors. It is not like Madoff screwing people who
| will not retaliate at the violent level.
| babyshake wrote:
| If you believe the theories about Epstein etc, jail is not
| always a secure place if people want you dead.
| mjr00 wrote:
| > If SBF does intend to be a fugitive, does he really think
| this is going to end up OK for him?
|
| Honestly, if he manages to sneak to Laos or the Maldives,
| even with a mere $100m or so? Yeah he'd most likely be fine,
| especially if he lays low. A similar example at smaller scale
| is Sam Jain[0] who ran eFront in the early 00s; he defrauded
| businesses of tens of millions and ran off somewhere. He's
| been a fugitive for over a decade but still has multiple
| millions of dollars to life off of.
|
| Biggest difference is Jain was mainly defrauding businesses,
| whereas SBF defrauded billionaires... wherever he goes, I'm
| sure 24/7 armed security is going to be on his shopping list.
|
| [0] https://en.wikipedia.org/wiki/Jain_Shaileshkumar
| papito wrote:
| The U.S. law enforcement really starts the Consequence Train
| up if the _wrong_ people get screwed. Ironically, the
| billionaires who seek justice for their scammers are the ones
| who also spend a ton of money gutting the government of its
| power of prosecution and oversight.
| idop wrote:
| He shouldn't bother. Soon he'll be offered a book deal, a movie
| deal and an exclusive interview deal that will net him enough
| money to live comfortably for at least a few decades. Not to
| mention that after his not-so-significant prison term he'll
| become a motivational speaker at 50 grand a pop.
| rippercushions wrote:
| Citation needed for "not so significant", people behind
| lesser Ponzis have gotten decades in jail.
| rafale wrote:
| In some states like NY, the money you make from
| writing/talking about your crimes go to the victims of your
| crime. That's why Inventing Anna (Netflix series inspired by
| true events) didn't make any money for the real (but not so
| real) Anna Delvey.
| flylib wrote:
| he could be looking at long time in jail, no one wants to
| associate with him at this point
| ldjkfkdsjnv wrote:
| I bet in a few years he raises VC money for a new venture
| SilverBirch wrote:
| Yeah, I think the question "Does Marc Andreesen associate
| with scam artists" has been quite conclusively answered by
| now. I can just see it now "Well he built an amazing
| business last time..."
| sillysaurusx wrote:
| This is actually "an announcement of an announcement." It's not
| publicly known who the F the FTX hacker is.
|
| It's good to see them making so many mistakes. It'll really test
| the theory that if you commit a huge crime and get a 15 year
| prison sentence, will it be worth it if you lock your millions
| away where no one can find them but you?
|
| I don't think so. Even a brain wallet would be hard to siphon
| from afterwards without anyone noticing.
| standapart wrote:
| What if this was never about getting the money out of the crypto
| markets. Could it simply be about minimizing how many of the
| assets the bankruptcy could liquidate all at once?
|
| It may take a long time to recover these funds. Remember seeing
| that slippage was as much as 50% on some of the transactions, a
| permanent loss.
|
| No one still in crypto wanted to see the liquidation happen.
| MangoCoffee wrote:
| 1. Sequoia removed its glowing 13,000-word profile of Sam
| Bankman-Fried
|
| https://www.businessinsider.com/ftx-investor-sequoia-removes...
|
| 2. NAS Daily on FTX
|
| https://twitter.com/nasdaily/status/1590027230281093120?s=20...
|
| 3. The World Economic forum: FTX
|
| https://www.weforum.org/organizations/ftx
|
| 4. White House Monitoring FTX Collapse, Calls for Crypto
| Regulation
|
| https://www.bloomberg.com/news/articles/2022-11-12/white-hou...
|
| what a whirlwind. there are more FTX chaos on Twitter.
| metadat wrote:
| Is there an archive link of the Sequoia page?
| paxys wrote:
| Any reason to believe that "Kraken" is legitimate and not just
| part of the grift, or even a different grift in itself?
| zoklet-enjoyer wrote:
| Yes
| colechristensen wrote:
| Kraken is based in SF and has various US regulatory attachments
| and thus auditing obligations. It is specifically not an
| offshore operation. It's also been around for a long time.
|
| Among crypto exchanges Kraken is definitely on the legitimate
| side of the spectrum.
|
| Somebody should create a kind of credit rating for exchanges to
| rate their risk and legitimacy.
| jefftk wrote:
| And a week ago you would have said this about FTX.US, no?
| zmaurelius wrote:
| Kraken regularly publishes proof of reserves. I don't recommend
| keeping funds on exchanges as a rule, but I don't feel stressed
| out leaving a percentage of my holdings there for an extended
| duration.
| cycrutchfield wrote:
| Do they publish proof of liabilities too?
| gruez wrote:
| Insofar as each client's deposits? Yes.
|
| >Any client can independently verify that their balance was
| included in the Proof of Reserves audit by comparing select
| pieces of data with the Merkle root.
|
| https://www.kraken.com/proof-of-reserves
| zmaurelius wrote:
| I believe only Coinbase publishes liabilities at the
| moment. In my opinion, Coinbase is the gold standard due to
| being a publicly traded company and Kraken carries more
| risk.
| QuadmasterXLII wrote:
| I mean we all know who the hacker is lol
| zmaurelius wrote:
| It is kind of strange how unsophisticated the hack ended up
| being. I feel like SBF would have pulled off something with a
| bit more finesse.
| zoklet-enjoyer wrote:
| thr0wawayf00 wrote:
| Maybe I'm just a cynic, but I find the community's pursuit of
| this individual's identity pretty interesting given the pro-
| privacy stance of crypto.
|
| Everyone cares about privacy until a crime is committed, and then
| we all want to know. And we leave it up to folks at companies
| like Kraken to tell us what they find.
| rippercushions wrote:
| This has almost nothing to do with crypto. There's no "hurr
| durr code is law" clever hacking involved, the money was
| straight up stolen from a centralized exchange in the digital
| equivalent of a bank robbery and is now being laundered in
| plain sight.
| lordnacho wrote:
| They got their Tron from Kraken apparently. Seems a bit amateur
| but it's so dumb it must be true.
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(page generated 2022-11-12 23:00 UTC)