$197,000,000 hacked from cryptobros

[@smjaiteh]

At this point, if I left a robber’s sack of unmarked USD bills out in the middle of Departures at JFK Airport Terminal 2, I have much better chance of having it all safely returned to me than I would putting it in any crypto protocol.

[@PointsofData]

Almost 100% if you put it somewhere in clear view of security cameras. Then you know exactly who took it.

[@lemeres2478]

Well yeah. Because there are specific laws to protect mislaid property, and the air port would have security cameras that could be used to identify the person that took the money. Crypto doesn't look for any of that. On purpose. it is what happens when paranoid programmers make something that is ultimately attractive to money launderers, and they all then try to convinced a bunch of confused people to invest into it like the stocks.

[@metagen77]

The problem is not the protocol which was not compromised, the problem is very very very smart people keeping their money inside exchanges

[@V0idedOut-E33]

@@metagen77 that word you used, "Smart" was it? It's doing a lot of heavy lifting here. Very generous use of the term.

[@samasrcounts6079]

I imagine a classic cartoon money bag for this robbers sack.

[@nr12345]

99% of these 'hacks' is internal straight theft. Public tweet could be made as a cover and nothing more.

[@Xport9]

More or less. It's an easy gateway to create an escapegoat, rather than them taking accountability. They just simply pocket these money, and probably invest it on some shell company.

[@bestbotreview]

There’s no way this money actually exists so it’s definitely just the same idiots wasting their life rug pulling who ever put their 10k of life savings into whatever new moon coin How many hundreds of millions can be lost in this terrible economy where most live paycheck to paycheck

[@lemeres2478]

Now now. A lot of them are also incompetent. So I would only put it at like...75%.

[@Delimon007]

Just said this myself, it's far too obvious.

[@NietzscheanMan]

@@Xport9 *scapegoat

[@onikoneko]

"Don't worry, your $200 million loss didn't even break the top ten of world's worst hacks!" has me on the floor laughing

[@nonna_sof5889]

I mean, code is law, right? So this is fine. Totally legit.

[@AcidProphet]

I managed to never loose my crypto, legit.

[@mgatelabs]

Absolutely

[@andrewkoster6506]

Code: famous for never containing bugs or exploits or backdoors.

[@Jeez001]

Most of these *supposed hacks* are inside jobs working with foreign entities,if project doesn’t look like it is gonna moon there is simply easier for company or rogue employee to steal the money/rug pull and claim a hack and move on..

[@Xjuijau]

​@@Jeez001 my thoughts also. It will only stop when coin owners will be held responsible for "hacks".

[@AlexandraSpeaks]

$200M gone from cryptobros and this is such a common occurrence it didn't even make it to the main channel. The absolute state of crypto

[@Jordan-Ramses]

It's nice of them to entertain us by burning money.

[@jeb791]

crypto security is like if fort knox replaced its security with the honor system

[@totemictoad4691]

and a red carpet with complimentary handcarts

[@Spamkromite]

Or with rice-paper gates 👀

[@thatHARVguy]

@@Spamkromite NFTs of rice-paper gates.

[@bobertastic6541]

@@thatHARVguy nfts of an nft of a rice paper gate

[@gregutz4284]

Wait until you find out how the Internet works...

[@iamjustkiwi]

Cryptobros: you can't trust banks they aren't safe! Also cryptobros:

[@doginababyseat5127]

And they still keep throwing money at crypto!

[@harrickvharrick3957]

indeed! 😂

[@alderoth01]

What's really hilarious to me is the fact that silk road provided more genuine services than FTX, or Luna 🤣 🤣 🤣.

[@Khalith]

Cryptobros taking another L? Wow I never would have foreseen that.

[@Acolyte_of_Cthulhu]

"hacked" is such an common excuse..

[@Spamkromite]

It's euphemism for "magic rug got to fly far far away" 👀

[@Acolyte_of_Cthulhu]

@MR.AVERAGE and perhaps get bailed out for more money, once a scammer always a scammer.

[@MasterofSpiders]

Rugpull.

[@rorrim0]

Those dang Iranians.

[@Krexel]

I mean... Crypto shit has been hacked before. Not saying you're wrong, just saying that it's stupidly easy to hack the blockchain.

[@ristopaasivirta9770]

Why does it seem to me they should do some sort of centralized system to ensure the safety and security of people's funds?

[@Kaimax61]

but that's goes against the point of the cryptobros, decentralization. Which is always funny, whenever this happens, and they start screaming at the government to makes some rules around.

[@twisted_nether373]

@@Kaimax61 I think it was satire.

[@unyieldingsarcasm2505]

@@Kaimax61 Almost like the entire concept of hard decentralization in a centralized world is fundamentally impossible long term.

[@JimRaynor2001]

So you’re telling those cryptobros that they have to reintroduce a centralized system which invented hundreds years ago into their beloved decentralized supreme system that their most important reason they got into crypto field? 🤣

[@andrewkoster6506]

Maybe some sort of insurance company that ensures deposits, federally.

[@reinmeiker9024]

correction: APTs aren't necessarily state-sponsored; we refer adversaries that are, well, advanced and persistent, as APTs. it's just most of them are state-sponsored. I work as a threat intel researcher myself.

[@Xjuijau]

I mean it's North Korea so no way they have internet without state

[@reinmeiker9024]

@@Xjuijau yes but you do realize other APT groups exist from other nations right

[@freedustin]

He was specifically talking about N. Korea then, just before that he had the real definition of APT on screen so it was already covered.

[@Poldovico]

So, the hacker known as 4chan is not an APT?

[@sliceofheaven3026]

Its amazing that when things go well there seems to be no need for regulation but when things go sideways then suddenly the people who were against government regulation are suddenly very interested in having some regulation in place to help them recover at least some of their funds.

[@hoze1235]

The blockchain don't lie bro

[@sliceofheaven3026]

@@hoze1235 So for example FTX didnt lie? Perhaps the mechanism that is known as blockchain doesnt lie but the companies running those certainly do at times.

[@tootzy-the-roll]

​@@sliceofheaven3026 Coffeezilla called FTX a ponzi scheme a year before its collapse.

[@SuperChaoticus]

I invest in crypto by just giving cash directly to my favorite hackers!

[@porkch0mp538]

It is fuckin fantastic that North Korea is finally getting a scholarship to finish that nuclear study

[@ekki1993]

Between this and Coffeezilla's video on the billion dollar case against youtubers I'm getting desensitized to big numbers.

[@tillitsdone]

I know. A lot of people don't understand how huge the difference between a million and a billion is. But it's like this: A million seconds is 13 days. A billion seconds is 31 years.

[@GodOfPlague]

I'll check that video out

[@ekki1993]

@@tillitsdone I do understand it. This video talks about a fifth of a billion dollars, so not too far from a billion. My point is that I keep reading video titles with a bunch of long numbers and it's hard to take something seriously when it happens too often.

[@Ofjkk]

You get desensitized to big numbers cause of inflation

[@Cofcos]

With all these inflated numbers lately, reality is going to need a stat squish.

[@serioserkanalname499]

These people are losing enough money to buy a house in seconds due to rugpulls and hacks for the 30th time or whatever and they somehow cope so hard, huffing so much inustrial strength copium that they convince themselves thats somehow okay and invest into the next "project". Where did these people get that money in the first place?!

[@clwho4652]

They don't, its all in crypto. There is a reason crypto bros don't cash out and live on what they made, its not worth as much as many claim it is.

[@r99716]

@@clwho4652 it's worth the price you see on exchanges. the only reason it wouldn't be is if you're selling so much that you move the market yourself

[@TwoWayOrbitalStation]

@@clwho4652 It all depends on what coin they have the money in. If someone has 100 mill in some shit coin that only has 300 mill in liquidity, and they try to sell it, they wouldn't get even 5% of that in the end, and the entire coin would crash to nothing almost, cause others would dump it too. Now, if they had 100 mill in one of the big coins, like bitcoin or ether, then if they dumped that, they would get pretty much all of it, if not most of that, yes the coin would dip a bit, but only slightly.

[@kyleoates6367]

Wasn't the whole point of the block chain, and the insane energy being dumped into it to maintain it, was to be un-hackable "safe" place to store your money.

[@FirstLast-cg2nk]

Cryptobros: "Blockchains, Cryptocurrency, and NFTs are the future, because they're much more secure than anything else on the planet!" Blockchains, Cryptocurrency and NFTs:

[@iloveanothermanswives4278]

The only advantage of crypto is the independance from trade centrals. If anything, they are much less secure from it due to the lack of regulation and security from authority.

[@sinjin8576]

The worst part is the *idea* of crypto is a very interesting one, one that could have great potential but all these get rich quick schemes, scams and half assed projects have utterly destroyed any potential for people to actually give it a meaningful chance or application. Crypto is just the internet's most expensive joke now.

[@MK_ULTRA420]

@@iloveanothermanswives4278 You were right until 2014 when governments starting tracking cryptocurrency transactions for taxation.

[@ekki1993]

Cryptobros just can't accept that the mundanity of real life is more efficient than their technofetichist ideal of "code is law". They got so obsessed with a technically innovative solution to the Hollywood type hacker job that they didn't care to do some research on the facts of the medium they claim to be revolutionizing. Most hacks are just phishing or telephone/email scam types, which are actually made worse by the whole "code is law" schtick. Furthermore, even the "hacker job" gets easier because they only have security while the data is in a wallet, but no form to double check movements. It's a security dystopia.

[@feralperil]

womp womp

[@CallMeBlackout_]

I got into an argument with some crypto bros on Twitter about Doc’s “exciting” idea of people being able to extract with an NFT that costs like $100k and one of them straight up tried to convince me that it’s nearly impossible to steal crypto from others. Then this video comes out… 🤣

[@johnwinter2252]

Who knew invisible money was so easy to steal?

[@shocknawe]

3:46 - When most of your country’s GDP comes from crypto fraud. WOW.

[@sinjin8576]

Modern problems require modern solutions

[@Monique-iz8lp]

I don't think the 3.3bil from Silk Road is directly related to its fall. According to wiki, a hacker stole 51k bitcoins from Silk Road in 2013, which were later seized by law enforcement.

[@DanielSmedegaardBuus]

Someone needs to make one of these hacks that just distributes the gains to tens of thousands of small-fish wallets in developing countries. Bring down the garbage through Robin Hood-esque philanthropy 💪

[@FayeHunter]

Taking L's and ..... Taking L's.

[@raglock1433]

every time i feel bad about myself i can look at cryptobros and feel a lot better

[@leddmask]

Stimulating the global economy one hack at a time babeeh

[@thatHARVguy]

And all they have to show for it are NFT Ls.

[@Reikis645]

Finally some good news

[@bniy]

Lol

[@DawryMike]

Ladies and gentlemen, the future.

[@kuragariinuken255]

Cryptobros are so good at taking the Ls.

[@porkch0mp538]

you can pretty much eliminate any candidate from a job interview if they invest in crypto and see it as anything other than gambling or a novelty

[@grayaj23]

They're certainly getting enough practice at bending over and dropping their shorts.

[@Hu-WhyteMan]

A lot of them are pretty good at taking the D's too....

[@wonderwallz99]

@@porkch0mp538 good thing im retired from crypto

[@YDV669]

I've always been 95% certain that crypto was intended from the start only for criminal activity, but they made it sound nice and chipper. The moment I heard about Tornado, all doubt in my mind evaporated just like these $200M.

[@irishbob26]

How many people actually asked the hacker for the money back? Probably just that one guy, why the f not? If your not in you can't win. It's not like he had anything to lose at that point.

[@grayaj23]

"Asking is free"

[@zimbu_]

I suppose he did lose the gas fee for sending the message, but it's not much.

[@tonysolar284]

11:16 Yes, in the U.S. it would be considered "Receiving of Stolen property" or "Funds derived from illegal activities" and since possession is 9/10th of the law, He would have to prove where all of his funds came from, otherwise it could be up for Asset Forfeiture. But since this is not a U.S. issue...

[@ANO-.-NYM]

Are these even "hacks" if it was all done through the contract system? If they pushed the update without auditing it- how would this even go down in court? If the contract has a set of variables that allows this situation- that's a huge mistake by the company.

[@ifeawosika966]

They arent hacks. All these guys do is rob their investors.

[@ekki1993]

I don't think it matters. It's stealing from investors either way. Nobody is going to sue for "hacking". People sue for stealing, fraud, etc.

[@r99716]

when a bank accidentally sent someone way too much money (some story a year or two ago), they were in trouble for not returning it, though you could try to use the same logic.

[@Xjuijau]

​@@ekki1993 it does. If you fuck up because of 0 competence then you're liable. Imagine if bank owner left vault doors open and after someone stealing it would just shrug shoulders.

[@ANO-.-NYM]

@@Xjuijau This isn't a bank, though. Banks are only protected because laws specifically target them and protect account holders. Not sure what would happen to these companies who are definitely bank-like financial companies- but because of technicalities aren't considered as such on paper.

[@ScottLahteine]

The great think about the blockchain is that every giant theft is permanently recorded and visible for all to see.

[@ifeawosika966]

"Gone". Insider job everytime

[@TheFrankvHoof]

Whenever you hear someone use the term Advanced Persistent Threat, think 'We fucked up and some 15-year old entered through this massive gaping hole in our security that we overlooked'

[@Montesama314]

Isn't this the premise of the film "WarGames"?

[@patnev9296]

Certainly retrospectively, can't actually understand why anyone thought money being managed by code was ever a good idea. Can't actually recall a ton of code that works perfectly.

[@goshdarntootin]

Im starting to think this whole unregulated market business is bad for money

[@DanaOtken]

The original appeal of cryptocurrencies (in the modern form; the idea was invented quite a while back to speculatively fill needs our society doesn't have yet) was the replacement of social or governmental law with technical: whatever you can mange to do equates what you're allowed to do. The fundamental catch to that concept should be obvious.

[@niallrussell7184]

there can't be anyone that doesn't realise how risky crypto or having it sitting in an exchange is.

[@charleschamp9826]

"So that's it then, so long and good luck?" "I don't recall saying good luck."

[@midimusicforever]

It was never about the money, but about the things we learned along the way. 🤣

[@laceflower_]

Part of the reason why the SR valuation is so high is due to the culture of darknet markets. People tend to find one with a good reputation, stick to it, it balloons, gets taken down. Cycle repeats. Transactions can be held in escrow from days to a month or two depending - illicit goods dont usually take express post if you feel me

[@koya-l4v]

Code is law, according to the law it's not your money anymore so the hackers aren't even hackers.

[@malcolmdarke5299]

So, speaking as a bookkeeper qualified to work as a bookkeeper in the UK: Receiving stolen funds is not inherently illegal. Knowingly accepting stolen funds as payment for services rendered or goods received is illegal.

[@Ramborg3]

Human greed and stupidity are so intertwined, its up to decent folk to put this to an end. It will not get better without ACTION!

[@Interference22]

For future reference, "Euler" is named after Leonhard Euler, a famous Swiss mathematician. It's pronounced "OY-LER."

[@sinjin8576]

Crypto bros are the best thing to happen to the North Korean government.

[@ectothermic]

The real crypto is the friends we earned along the way. I'm fuckin' WHEEZING bruh.

[@MrGBH]

This is why actual banks use centralised systems

[@kenyizsu]

Tornado Cash is back!? Oh goddamnit, it's like a goddamn cockroach....

[@Garycarlyle]

Youre basically right about blackhat. I would say it, in the context of hacking, means getting into a private system or reverse engineering for nefarious reasons. As opposed to whitehat which is doing similar things but to stop blackhats.

[@Fosius]

Kira is the one who is gaining the most from these hacks, perhaps he can be the hacker? I say this as a mostly neutral party who owns a large part of earth 2, and will be a future king in that MMORPG VR SANDBOX ultimate FPS RTS ROGUELIKE cardgame game

[@myfavoriteviewer306]

I can see the video planning sessions now, "Views are down, money's running a bit tight. I better make this next hack a big one to get back into the algorithm" 😂

[@brokenzealot7261]

Crypto is beyond a joke at this stage

[@alanfike]

.. like the Sirens guiding ancient Greek sailors in the fog to crash on jagged, rocky shores.

[@silberheld]

But i thought crypto is the future what happend?? 😲

[@Marcus_Suridius]

Fair play for doing these videos Kira, some amount of scams and so many fall for it its like beggers belief.

[@VandroiyIII]

I remember discussions back in 2011 about the widespread disinterest in security and how this would become a problem for projects like Bitcoin. We had no idea what was coming. People whom I thought had lost the plot back then would be considered very conservative now.

[@ExecutorQ3]

Dude, everytime you talk about crypto and nft bs i've exactly this scene playing in my mind :-) (the sp from thumbnail)

[@Poldovico]

Now I wonder to what degree it would be possible to steal from a bunch of people, send it all back, but scramble the quantities around just enough that everyone has more-or-less their money back, but it all legally counts as stolen.

[@ther0n1nnamed47]

I feel somehow The same cryptobros are still gonna call this a victory... or "just fine"

[@felicityc]

I am honestly insulted they called it Euler. Doing that great man wrong

[@joshuahensley9395]

Kira crypto content is the best kira content

[@algi1]

Clarification: They didn't steal the money. They stole the tokens that was used in scamming people out of this amount of money.

[@dougray30]

To the moooon!

[@leddmask]

🦍🚀🌝

[@jjforcebreaker]

Human stupidity, recklessness, and shortsightedness are incredible. Not saying they deserved it, just heavily implying it.

[@tahustvedt]

World banks market value dropped half a trillion dollars in the last year alone... so far. Creduit Suisse got a 57 billion euro bail out two days ago, then they crashed again after that and lost it all. Shitty crypto projects are bad, but shit's about to really hit the fan bigly in other markets.

[@MK_ULTRA420]

Europe thought they could turn their migrants into taxpayers lmao

[@vxicepickxv]

It's almost like a system that demands infinite growth is inherently unstable.

[@aguyhere7945]

If you know anything about Credit Suisse them lasting two days before crashing is the only surprising thing about that.

[@tahustvedt]

@@MK_ULTRA420 You think banks survive on taxes? lol

[@davidlazerz8564]

"Hacked" Just more cryptobros getting ripped off by the owners of the coins owners who hired an outside party to "break in" and give them a cut of the loot further down the line.

[@khalidwalid5746]

It takes all of these exploits, scams, and hacks for everyone to learn what works and what does not work over time. We are living in history and are going through the growing pains.

[@cleanerben9636]

lol WHO could have predicted this?

[@Herbertti3]

Its kinda depressing to watch these while making 20k a year.

[@DiakosDelvin]

Safety should be the easiest part of crypto, the "money" only exists because their identifier code is accepted as valid, just blacklist and re-issue.

[@nrran6835]

Who has the authority to do that? Do you trust them to only do it in appropriate situations? Isn’t that contrary to the entire decentralization ethos? One person or group being able to decide whose money is valid is as centralized as it gets. Fraud and theft is easy to do on these systems by design. It’s not a bug, it’s a feature.

[@kayokake]

Nation state hacker is likely what you were referring in the beginning of the video. A persistent threat hacker is someone who tries to gain and keep unauthorized access for a long period.

[@jaredbissenden6230]

11:30 I mean it's a clever exit strategy, get the funds and then pretend to be multiple "affected small parties" and distribute the wealth to smaller wallets in smaller amounts.

[@Hammerhead547]

I love it when this happens to crypto bros, they're parasites.

[@milannikolic9996]

i think they just steal from themselves

[@sacredk1]

Sorry, but it was the FEDs who kept the money from Silk Road.... 3.4 Billion USD. And many more 'seizes' ...

[@CatsMeowPaw]

The coins have been transferred from weaker to stronger hands. Code is law. This is what the blockchain was designed for, and I hope cryptobros don't suddenly ask the stupid, evil and nasty government to come to their aid.

[@OhNotThat]

Code is law 🙏🙏

[@Spamkromite]

Another notch for the belt of success of those crypto-bros? Because I can't fathom how can they be so candid as thinking that digital goods are useful but to brag about your untangible wealth and for competition of e-peens.

[@doublinx2]

It's just...the numbers attached to these meme currency assets is just so absurdly large it doesn't even register anymore. An industry where a loss of _200 million dollars_ doesn't even break the top ten breaches. Why on earth were they pushing this again?

[@metagen77]

Repeat after me : not your keys, not your coin! When will ya get it

[@metagen77]

The ignorance of your viewers is laughable

[@OhNotThat]

@@metagen77 viewers? almost nobody here invested a dime in that bank 🤣🤣

[@metagen77]

@@OhNotThat oooooof

[@anggasurbakti8269]

This 200 millions will worth 20 millions in several months then 0 in couple years. That's why Euler did not treat this issue massively, they know the real amount is small

[@kiarastaggs180]

A cryptobro got scammed and lost millions? What an original and innovative idea that totally hasn’t happened before! *sarcasm*

[@grayaj23]

Avalos might not be criminally liable for the return of his own money. But the 13.4 eth cannot possibly *not* be stolen. If you receive property you know is stolen and don't arrange for its return, you are committing a crime -- at least that's how it would be under US law. I expect it's the same in other places but don't know. I would imagine he could escape criminal charges if he contacted a lawyer/solicitor and arranged for the return of the excess.

[@GlitchOutGamer]

LOL that comment about a kid's show had me crackin up

[@demon2441]

How much mileage has that South Park clip gotten over the decades?

[@r-pupz7032]

If the random dude who got money back was actually the hacker, that would be incredibly dumb and a big security breach - why send money to yourself & attach a name to the hack? The fact that the hacker didn't drain all the funds suggests they knew how much they wanted/needed (and how much they could realistically launder too) so perhaps they just didn't need the bit they sent to the dude and wanted some good karma to offset the theft or something lol.. I sincerely doubt he is connected to the hacker in any way, as it would just be a ridiculous and unnecessary security risk. But who knows lol, it really is the wild west out there!

[@mastersith8891]

If the money was stolen from a proper bank, the taxpayers would be boiling them out...

[@8bitorgy]

As long as serious financial institutions keep shitting the bed, crypto will continue to boom

[@eirinym]

The only thing I ever mention to anyone who even mentions crypto is just to stay away from it, it's not worth it.

[@ShirleyTimple]

It's almost like they need, I don't know, maybe some type of regulation to prevent the constant theft in the space... lol

[@one-above-allothersillum-iq3qz]

Lol I thought it was actually a South Park skit.

[@TheSparrowLooksUp]

That feeding frenzy payout thing is fucking nutty. How are these people not in jail?

[@rokingfrost8446]

okay Kira ngl i thought form the thumbnail that the video was some of those "discord memes" type of videos, until i saw the channel name.

[@fyrestorme]

The scary thing is not the fact that crypto can be hacked or was, yet again, but what actions that money is probably going toward funding

[@harrickvharrick3957]

The vulnerabilities that come to light that are related to crypto currencies (traders, exchanges, lenders..) show perfectly what the disadvantages are of the possibility of holding, handling and trading them 'totally anonymous'

[@wanderingmako]

So glad BTC has never been hacked. 14 years strong

[@antondovydaitis2261]

A double Kira Saturday, and the stupid suffer.

[@darkmtbg]

White hat: hired by the given company to security test the system, under contract to report any and all vulnerabilities Gray hat: usually working on their own terms with no contract or anything to report the findings to the target. sometimes informs/sells information to the target, or attempts to sell the exploit off somewhere else. Black hat: finds exploits to explicitly gain from the vulnerabilities on the target either by specifically using the exploit found for nefarious reasons or sells them off to some other black hat

[@momchilgradinarov6428]

But it is decentralized guys !!111

[@OhNotThat]

1:13 I would like to thank anarcho capitalist libertarian boys for personally funding the communist world's nuclear weapons programs. Thank you boys for your gracious donation to the socialist cause!