They Hacked The Game For $625,000,000... No One Noticed

Axie Infinity lost $625 million dollars of their players money and didn't notice for 6 whole days. This is the future.
Follow my twitch! / kiraonttv
Join My Discord! - / discord
GET NORDVPN and help support me:
go.nordvpn.net/aff_c?offer_id...
USE COUPON CODE: kiratv
Donate to support my content via crypto:
0xe3698e64E16EcCd63aAC936547F56Cf8260FB24e
Want to support me further? I now have a Patreon.
/ kirayt
------------------------------------------------------------
#nft #cryptocurrency #2022

[@cameroncox7812]

There is a high probably this was the ultimate goal of the Axie Infinity devteam: a rugpull of epic proportions. They are the ones that engineered the 51% exploit, they were the only ones with authority to approve the changes, and they are the ones that "accidentally" left a backdoor code fork in their system that would allow them to drain over half a billion dollars. It's all too convenient, and (like a spousal murder case) they should be the first to be investigated.

[@TheRealManchas]

We will never know if it was themselves or not. The wallets and IPs of the hacker are all there, also their centralized exchange wallets (for those, you need KYC), and there is nothing suspicious about all of that, but we will never know. They already said it was "social engineering" what made the hack possible, and not a vulnerability or something like that, and it makes sense from a technical perspective. The funds are there again, thanks to the biggest centralized exchange. Everything was pretty fast, and now there are more validators on the blockchain itself. These guys really need their ass kicked for they start to do things right.

[@eldricliew6223]

Oh, the North Koreans got it. Good luck getting **anything** back.

[@TheRealManchas]

@@eldricliew6223 I don't know what you meant, but thanks!

[@Quandry1]

@@TheRealManchas They can say it was social engineering all they want. Doesn't necessarily make it true... and even if social engineering was involved there was still a vulnerability that they built in that was exploited. Also we happen to know that those wallets aren't all quite as anonymous as everybody wants to believe and with some work can be tracked back to actual people more often than not. So there is chances the people could be found out if the right kinds of people with the right kinds of resources choose to follow it.

[@TheRealManchas]

​@@Quandry1 That's why I said "we will never know", because we will never really know, at least not the full story. And I say "we" because I am inside the Ronin ecosystem. Of course that CEX wallets are not anonymous, there isn't CEX wallets that can operate without a rigorous KYC process first, they have the hacker/s name for sure, and probably even tried to communicate with him/them, but of course it was for nothing, it is clear -as everything on a blockchain- that he is trying hard to launder the money -and sadly he will succeed-.

[@Lyander25]

It kinda bites that every time I hear the Philippines mentioned in one of these stories, it's as a country full of people being left holding assorted bags and trying to endure the weight. I'm from Metro Manila myself and saw no end to Axie Infinity ads just a few months ago, but since I've been skeevy of crypto for years now I just wiped my mind of it. Knowing how many of the people here who likely bought into that dream pushed their resources untenably far for the chance, this disgusts me. Thank you for reporting on this, and hope it finds some sort of meaningful resolution not too far into the future.

[@insomnia20422]

I always say it. Its very easy. Money doesnt grow on trees. Everytime people believe this stupid shit, its their own fault. Also how logical is it to make money by playing a game? This Axie stuff is basically a darwinian level wall to keep out and bankrupt all the people with less than 2 braincells.

[@Walawalacookie]

Yeah that part is the worst part of it. You have these people pulling a fast one on people who are so much less fortunate than they are. I really wish the world leaders would put their heads together and ban block chain tech all together. It's nothing but a tool to grift uneducated people.

[@Irilia_neko]

It will not have a resolution, as soon as the money is clear you can use it as you want

[@a_sweetroll1627]

Same. I was almost talked into it around july last year. Good thing i was a huge skeptic and probably saved myself wasting a huge headache of losing loads of money.

[@Irilia_neko]

@@a_sweetroll1627 just don't gamble if you don't have disposable income, it's extremely simple

[@tinewordsmith126]

I'm from the Philippines and this is true. I know a lot of people who sold their belongings, quit their primary sources of income and got into debt just so they can afford to invest on this Axie thing. Months later, still nothing. Sad.

[@DenethorDurrandir]

The shorting story is just priceless, probably the best thing to come out of NFTs

[@JohnSmith-ox3gy]

Nuclear war: Stonk go up.

[@insomnia20422]

I think that makes no sense though. He would have just told people. Every shorter does that. If you hold a heavy short position you wanna convince people of the downturn. I think he just wanted to sound silly or smt. In the end it revealed that he doesnt understand anything or he would have realized that his tweet made no sense at all.

[@DenethorDurrandir]

@@insomnia20422 pretty sure that if he tried to spread the information it would be illegal shorting, forget losing his money, he'd face jail time

[@travischaikin1626]

@@DenethorDurrandir I dont actually know any of the details about these laws, but I would expect illegal shorting to run on something like liable laws, where it's only illegal if you lie or otherwise mislead the public. That combined with insider trading rules preventing you from trading on non-public info before revealing it should cover things pretty well. Although, we see that these laws are often circumvented, that would be the theory anyways.

[@DenethorDurrandir]

@@travischaikin1626 it doesn't matter if you lie, illegal shorting is using any information, true or false, to artificially influence a stock (crypto is no different from stock) with an intent to profit on it by shorting

[@andybrown4284]

Any company that is handling money needs to be on top of whats happening to it on a moment by moment basis. If they didn't have any system in place to at the very least flag withdrawls then that's negligence of the worst kind since the money is technically not theirs. This is like a bank opening up their vault and going for lunch.

[@landru27]

This is like a bank opening up their vault and going on vacation.

[@garypatterson2857]

Maybe there should be some requirement on companies to force them to have these systems in place. Some sort of... regulation. The whole web3 thing is speedrunning hundreds of years of real-world scams and making sure everyone realises why regulation is a good idea.

[@hekakain4108]

There is no gold in your banks vault to back the bearer of your bank notes, and hasn't been for decades; so what is happening here with crypto currency is nothing new.

[@axa897]

Yes in fantasy world it would work but crypto is based on trust . Same like Nice hasn hack company was lieing what nearly all crypto is in cold wallet , in reality it was in hot wallet 🤷🤷🤷

[@EmberQuill]

I work for a financial company that deals with real fiat money and I'm constantly surprised by how carefree crypto enthusiasts are with their money. If someone had managed to pull this kind of heist on my employer, there would be alarms and sirens and multiple teams of people investigating within minutes.

[@Tremendous027]

This is a better ongoing drama show than anything on Mainstream TV. Between Crypto fails, NFT rug pulls, thefts, and scams, along with the E2 fiasco, I'm NEVER bored anymore! :D Keep this content coming Kira!

[@KiraTV1]

[@RisingRevengeance]

E2 is my new favorite lolcow

[@sionbarzad5371]

The entertainment value is real

[@isaacbejjani5116]

Right, it's so much better than KZbin drama of the previous decade.

[@RisingRevengeance]

@@kananimiranda3376 Cryptoland is fun but it died out too quickly, E2 is still a very active trainwreck.

[@Morbacounet]

That shorting story reminds me of your video about Bitconnect. The price also increased when all the red flags were raised. This just proves how insane and disconnected from reality the cryptomarket is. Imagine if BMW, because of sheer incompetence, allowed a hacker to lock and disable every BMW car in existence. And instead of immediately going out of business, people would buy their cars in mass and applaud them because the money raised could help reimburse the victims. I'm also sure they delayed the announcement of the theft as long as they could, just to give themselves some breathing room.

[@rhaeven]

the whales who own most of the axis need to try and keep the value of their existing assets up, so to them it's worth pumping ronin to keep the whole thing afloat

[@Morbacounet]

@@rhaeven the system is fundamentally broken. It will break soon, there's no reason to try to salvage it. It's crazy that people are still dumping money in this sinking ship.

[@galacsinhajto]

I remember a conversation I had with a crypto evangelist , who insisted that organizations such as hospitals should employ blockchain technology, to manage patient information, because it is more secure than whatever is in use today and can't be hacked. I don't think this person fully grasped the implications of their proposal and was just hung up on the promise of " it can't be hacked" despite the crypto world already having experienced several major scandals, that I would consider hacking. They really do seem to have one of these every few months or so.

[@crystalwings4520]

With more and more hackers infiltrating the crypto environment, I guess the security system in it has some critical flaws.

[@galacsinhajto]

@@crystalwings4520 The biggest security flaw is always the human, bc of how effective social engineering can be. Some of these crypto enthusiasts are dumber than your average grandparent who gets duped by one of these fake virus pop up ads.

[@johnr797]

"Can't be hacked. Source? Just trust me, bro."

[@jerrytu0916]

There exists some stories of TOR users being busted, not because of the TOR network's fault, but because of user error/ lack of operations security. Nothing is "unhackable," because humans always make mistake, whether that's on the faulty software/hardware or on the users.

[@jerrytu0916]

Also, putting things like medical records on Blockchain is stupid. I don't want to put that on a *public* and *permanent* database for everyone to see.

[@Riclaval]

The future, where devaluing yourself increases your worth.

[@M4TTYN]

and making a cute monster game and slaving those from no so wealthy parts of the world in a soon to pop bubble!

[@PsychoticBeverage]

The part where a guy failed to Short because Crypto is complete nonsense and did the exact opposite of his logical prediction is just pure gold, sums up the entire space perfectly.

[@KnakuanaRka]

The stupidity of cryptobros has no bounds. 🤦🏻‍♂️

[@Wallyworld30]

The dude should have easily doubled his money in a week instead he lost it all because the price blew up over hype. He should have been tweeting everyone involved that the money was stolen once he shorted it.

[@AndrewBakke]

@@Wallyworld30 Exactly, the guy shorting failed to do what shorters are supposed to do. Just more evidence that the people in the crypto space have no idea what they're doing, even when they know some of what they're doing.

[@suicune2001]

I'm still trying to wrap my head around the part where a company lost all of its money and the value of the plastic chips went UP instead of the company burning to the ground from an angry mob with torches and pitchforks.

[@majormajorasic]

Welcome to exposure currency.

[@suicune2001]

@@majormajorasic What is exposure currency?

[@majormajorasic]

​@@suicune2001 Inflating value of something via attention/hype.

[@suicune2001]

@@majormajorasic Ah ok. Yeah, that's crypto currency to a T.

[@mygamechannel2300]

@@suicune2001 Doge to the moon.

[@shadowcaptaincain]

If Web3 is the future, then we don't have to worry about a Robot Apocalypse. Because these people are too dumb to make a smart AI.

[@kidoren1395]

Well thats one existental threat off my mind in the future.

[@Walawalacookie]

Yeah, instead we'll just have the nighmare scenario of everyone working a nine to five job battling poorly designed blobs of shit to make less than minimum wage.

[@willful759]

@@Walawalacookie now this is the freedom from the goverment we need - every ancap ever

[@amphioxusanniversary]

The robot apocalypse won't be done by smart AI; it will occur when someone puts a very stupid AI in charge of a highly complex system.

[@arlynnecumberbatch1056]

i mean even today ais are still garbage

[@YdenMk-II]

To be fair, discovering the breach in 6 days is still faster than how long it took Equifax to discover this breach. God they still haven't finished that crappy settlement yet.

[@satorudo]

Note the Equifax was a data breach and as such would be difficulty to detect, and the attackers made it that way. Data exfiltration isn’t easy to detect. Any financial institution would have instantly seen 600 million vanish into thin air within minutes if not seconds, plus again the blockchain is PUBLIC so this isn’t even secret information either

[@M4TTYN]

same with Wyze and nord VPN too.

[@MeteoBahamut]

This reminds me of the stories I heard about steam boiler explosions, where the workers would block the savety valve out of convenience to get that extra pressure, but in the end overestimated their own genius, so that it all blew up (literally)

[@gimpalopagus]

At least in that example the people responsible for the fuck up are the ones that suffer

[@Remixersoloman]

W-w-wait? Making laymen and hobby developers responsible for millions isn't a good idea?

[@Irilia_neko]

Who knows 🤣

[@silverhawkscape2677]

Not like we can Trust hedgefunds and banks not to get greedy and tank the global economy.

[@Remixersoloman]

@@silverhawkscape2677 so this is shit is the alternative? I'll never make excuses for market manipulation BS and obviously we all know the stock market is far from a perfect system, but it's still people investing stable currency into REAL businesses with tangible assets, professionals, etc. Crypto seems to me like a bunch of opportunistic young people sinking money into whatever coin or nft they think is going to get them rich, and then desperately espousing the value of the technology while trying to sell it off. Crypto's time will come, just let it come healthily and naturally. I'd rather see a good, realistic return on my investment down the line than risking all I have right now.

[@williamdrum9899]

​@@silverhawkscape2677True, they're major crooks as well. At least that's only once every 12 years rather than every 2 weeks

[@MagikGimp]

These stories are getting so insane they make me laugh. I just can't properly grasp the reality of these events. I'm so sorry to everyone who lost SO much money! Keep it up, Kira!

[@insomnia20422]

Im not sorry. This is a stupidity filter. If you believe this crap I guess you dont deserve better.

[@Irilia_neko]

If they Lost so much it's because they wanted to, don't invest in a fail company 🤣

[@ammagon4519]

You're already destined to fail if you even invest in NFTs

[@TheRealManchas]

Don't be, all the money is back again, Ubisoft (an investor on this game) and Binance (the biggest centralized exchange) already helped.

[@B1u35ky]

Its okay infinity minus 600000000 is still infinity

[@weijingburr2392]

"Hackers", yeah right. They just, ooopsie, left a backdoor. It really is like shooting fish in a barrel.

[@betochiwas]

Most hacks are just phishing

[@fatherWolt]

I find it HILARIOUS that nearly ANY LEGITIMATE banking institution would most certainly have some sort of safeguard, or alert when someone tries to move a large sum of money, like 600 million dollars for example lol. Almost nobody needs to suddently withdraw that much money for any legitimate or legal reason... And if they DO have a legit or legal reason for it, they probably don't need it ALL OUT that very moment. The ability for someone, ANYONE to move that much money in an instant would raise so many red flags at any real financial institute.

[@satorudo]

Note that even if you did this, it would be baked into the smart contract, aka its public. Meaning I can just as easily create thousands of wallets and transfer n-1 money out and avoid that. Also even if you had ultra complex monitoring of various parameters, you can’t STOP IT. By the time you figure it out bots can drain the system dry. You can’t reverse transactions. You can’t ask the ACH to cancel it. You can’t ask the other bank to void the transfer. The crypto is gone. And you can’t do anything about it. Hell they can SEE the wallet with the money but can’t do anything. If this was an actual bank you could have remediations to get the funds back.

[@smirnovamaria9611]

I blame start up culture. A lot of people dealing with crypto suddenly realize that they made a banking product when they the contracts are already in a chain and modifying them isn't an option Cue a lot of platforms now trying to move their erc-20 tokens to their own POA/POS blockchains.

[@andresk4694]

lol check out the The Lazarus heist

[@rolfs2165]

Most banks will have internal alerts if you try and move as little as 10k, you just don't notice it. Heck, credit card companies will sound the alarm when you try and buy a Snickers in a place you've never been before, to the point that you get a phone call.

[@dansmith1661]

@Baxi Banks can take your money and tell you to f off. The government may as well reward them for jooing people out of their money.

[@ArmageddonEvil]

I feel like this happened on purpose. Ala, someone in the company who got fired, was angry and stole $625 million dollars to get back at them.

[@Sohendar]

Yeah, it stinks like an inside job and the gall of them to ask for bailout from donation is just astonishing. It's just like real investment bank asking for a bailout.

[@johnr797]

@@Sohendar yeah, not a disgruntled employee so much as they used the exploit they left for themselves

[@Motorcharged87]

More like the company seen a downward trend coming and decided to make a break away with the loot using a conveniently "forgotten" loophole and proceeded to wait 6 days to tell anyone about it.

[@a.harrington1634]

I still find it hilarious that crypto companies are literally paying for the content you make because their commercials always run ahead of and behind your videos.

[@willful759]

I mean if this video shows something is that the harder you show them that this is all just a massive scam the more they buy into it, so it benefits them that this channel exists then

[@Carnyzzle]

it's almost like there's a reason why I have no trust in NFTs being a part of my games

[@shanevan413]

They weren't hacked because of the NFTs, they were hacked because their Ronin side chain had poor security. Are you slow?

[@Carnyzzle]

@@shanevan413 yeah, the ronin blockchain BEING INVOLVED WITH THE GAME YOU CLOWN

[@viren_jalkun]

Are you claiming that you make video games? I am so confused by these bold claims by accounts that hold nothing to backup such things...?

[@tacticianAlexandra]

Nft and Crypto, creates more bad news than activsion blizzard.

[@Carnyzzle]

@@viren_jalkun I like how an actual hack itself still isn't enough to stop you crypto bros from throwing money at people who will straight up steal it from them

[@RVxCobra]

Imagine if the hacker turns out to be one of the devs 💀

[@M4TTYN]

seems likey or the third party teams who knows.

[@johnr797]

Oh they and the third parties were all in on it, I'm sure

[@DR4C44N]

That would not be the first time. NFT "devs" often just rug pulled their projects and ran away with the cash in the past.

[@xxuberxjasonxx3456]

Then they all be crying and angry until the rage quit crypto and delete their accounts and sue crypto and NFT for the rest of the year.

[@miradalmeida1390]

So it's literally real life without the gold standard, except the banks know they don't actually have the real value of the fiat currency passed around. Crypto following the steps of fiat, the irony shouldn't be lost.

[@silverhawkscape2677]

It happens when you can mint infinite Crypto. Bitcoin was designed to have a hard limit making it similar to the finite gold. Crypto like this no such limits in place. Making them Fiat.

[@AmosMcn]

Yesssss finally. My man KiraTV. thank you for this. the whole Philippine Axie Infinity Community thank you for reviewing this Godspeed to you KiraTV

[@KiraTV1]

[@Tiananmen1989FreeTibetHK]

As a Filipino who had rich friends and even struggling friends who tried to recruit me in playing their "profitable game" while laughing at me for playing sekiro in my laptop with no profit in mind, I laughed out loud at their current situation. I told them many times that this game is a fcking scam. They argued against me by putting a well known stupid journalist Jessica series that documented this game on how legit it was for getting money(this was actually the real cause and start of the massive influx of players in the game in Philippines which btw that show also documents mythical monsters and beasts as if they were facts so go figure what kind of sht my country eats as they were all easily influence on what they see on TV). One of my friends spent a lot of money and also previously showed off to me his potential profit that he will get, and he was saving them to get a massive "withdrawal" of money later(which by now is probably dead). So yeah, this is actually a good lesson for my naive and gullible fellowmen in my country on not to trust everything they see on TV or hyped by the internet blinded by their own ignorance. This is peak comedy for me now that they are still trying to defend this game. Lmao

[@sune0_700]

Fellow swagapino here. Honestly, I don't want any ways to make money or a profit in my games. I just play to have fun and escape reality for a bit.

[@matheusgabrielmoreir]

99% of the ppl I know got their ROI + profits. ( u can still earn a lot from tournaments but of course with a better team than the one they first used ) Besides it isn't a bad game at least up until now...

[@trollnoobs178]

lmao

[@wtfbros5110]

@@matheusgabrielmoreir "it isnt a bad game" Dude its a Summoner's War clone with 50% of SW mechanics removed

[@robymaru03]

@@wtfbros5110 Lol I quitted summoner's war because that game was too demanding, and skill didn't mater only investment.

[@XxChronOblivionxX]

The part where the price went up and that clever guy lost all of his money because the coin holders were genuinely that stupid, it just broke me. I've been watching you and CoffeeZilla a lot in the past week, but that part is still lodged into my brain.

[@mrpopo8298]

Who else thinks that "play to earn" takes all the fun out of games?

[@Lenariet]

Literally all true hobby gamers. You are otherwise either a non-gaming investor out for money only or you are poor enough and without many other options like those Philippene people. Non of us hobby gamers like play-to-earn. The fact we put up enough pressure to make some devs and studios pull back their NFT plans is proof of that. We might get Ubisoft to give up too at some point if we keep doing that, so hate on.

[@wyslink9354]

Look

[@CommissarChaos]

I think it can be done well, but don't know about it's use as a main mechanic of the game. My example is PUBG and the item marketplace. No effect on the game itself (or minimal) and I was able to not only pay for the game itself just by playing and selling my reward crates, but I bought several other games as well. Then they shut down trading and the marketplace went mainly one-directional.

[@Maeshalanadae]

@@CommissarChaos Sadly, it’s because it’s a gray area. Some consider it online gambling, others may not.

[@dinoscheidt]

Literally real life

[@The_Ancient_Guardian]

"oh no, anyway!!!"

[@AccountInactive]

Poor Cobie. "I may be early Lawrence, but I'm not wrong." "It's the same thing!" Such a profound line from The Big Short that's often overlooked.

[@cmanmaxwell]

What a polite thief, closing and locking the door behind him.

[@xtremefurrycat]

the thing about any code really is that it can be manipulated with enough effort put into it, thing with crypto and stuff is there is no protection against stuff like this. The thought of a mining bank for chains might not always be in the same spot but if someone were to break that there could be a lot more in a huge loss for more than a decent amount of people.

[@tysnow9524]

Edit apparently it was north Korea doing. It's fubar because there should have been security measures in place that would have held the crypto transfer at that amount. And sent an alert to the owner and wait for confirmation before moving it. I guess the block chain is not a secure as the crypto company's would have us believe.

[@williamdrum9899]

It's not. It's only secure in the sense that you cannot crack SHA256. Everything built around it seems to be basically equivalent to a locked door in the middle of a cornfield

[@neutrino2211_]

I've been in web development for a while, and a security analyst for almost two years. When I tried learning web3, I discovered that the sheer amount of money flowing through the system is simply held up by vibes.

[@johnr797]

To be fair, that happens with real investing too, but at least not 100% of it

[@yardsale09]

@@johnr797 most of it ...but yeah agreed.

[@thespider7898]

Thats any market, fiat currency is backed solely by faith.

[@HardTimeGamingFloor]

@@thespider7898 Nobody who craps on NFT's ever says this. They just act like what we have now is not the dumpster fire that it is or never offer any kind of solution...

[@thespider7898]

@@HardTimeGamingFloor Well yeah, because the ones crapping on NFTs are all dumb fucking sheep who just go along with [Current Thing] uncritically. NFTs are basically a 1 for 1 analog to trading cards. There is no shortage of shitty trading card games/ shitty companies making trading cards. NFTs aren't uniquely bad, and there are some pretty cool applications for them. One good example is using an NFT to represent a game license so that you can resell games sold on a digital marketplace. Its a promising technology, most early adopters of new tech just take a while to figure out how best to use it.

[@Tabako-san]

Meanwhile I've suddenly started getting non-stop ads for Axie Infinity, wonder why they're suddenly so desperate to claw in new players? :p

[@qorazx]

Great narrative! Another great video, keep em coming!

[@schwinn7303]

Love it, keep up the digging!! Only thing to say is, just make sure you can get out of the hole you dig! Perceive as you like. :)

[@Violant3]

i really enjoy these scrypted more informative type videos, but i also LOVE to get your first reactions where you go mad at a scam, like in the cryptoland days.

[@lfemomo77]

As your video kept going, I kept thinking “oh no, oh NO, OH NO” keep up the great vids!

[@Burningeordie]

Great video, editing is awesome - what a clusterfuck.

[@listofdeaths]

Love the content brother, you always keep up the good work and I have MAD RESPECT for the creator you have become! KEEP IT COMING!!

[@FoNgThOnG]

This feels too much like an inside job.

[@andromeda_va39]

This makes me happier than it should. Ever since the downfall of WildWorks and Feral, I've hated cryptocurrency and NFTs, especially NFT games. With that being said, I must admit these are the most aesthetically pleasing NFTs I've ever seen. These guys look like plushies I might like to have on a shelf in my room.

[@todo9633]

Who would have thought that trusting a mobile video game company with your money is a bad idea. Sad, hope people learn to be skeptical of claims of NFT and crypto supremacy.

[@LunaTulpa]

Sky Mavis isn't actually a mobile game company, axie is available on PC, and from what I can find they don't have any other games, just the ronin network while I don't't trust mobile game companies, I trust "BlOcK ChAYn!!!" companies significantly less

[@xxuberxjasonxx3456]

NFT/crypto and Blockchain are not a gaming company.

[@LunaTulpa]

@@xxuberxjasonxx3456 BUHHH WELL they could be!!! just imagine having your fortnite skin transferring to CoD or battlefield!!! or selling your stuff when you're done with it!! steam market, what's that?

[@xxuberxjasonxx3456]

@@LunaTulpa what's that? Because their "CON ARTIST MONEY INVESTORS". Not a game designers.

[@Marksman560]

Weeeee future here we come! (Can't wait for even more Kira videos lol 😅)

[@miklov]

I wonder if in the future there will be archived KiraTV available to show contemporary web 3 news coverage. I very much enjoyed this watch, thank you!

[@vuilbaardgames3280]

Pretty sure that the founders themselves stole it after they recognized that the whole system was failing when not enough new money came in

[@CorpseTornado]

Your videos have recently taken a modern history style turn, and it's awesome. Love this shit bro.

[@securedcertification477]

Superb summary!

[@compass2201]

NFTs and especially "play to earn" are the worst greedy concepts to come in to any form of gaming, ever. Even most lootboxes and cash apps aren't as predatory - and that's saying something. The pyramid with these will only ever be for the already ridiculously wealthy. I tried a 'highly' rated, 'accessible' game the other day just to see why they were so popular. In the very small print, you needed about 2500 dollars minimum to spare ("invest") to even begin to earn a tiny portion back to then be enslaved to a basic-ass Facebook level game. Great if you have a spare 100k to waste on wild speculation to earn upward of 5% interest over time, terrible for anyone but the 1%. It doesn't really matter if you get in early or not. If you have lots of cash to play around with then you're straight to the top with 0 skill or care; hence why I have little any empathy when you hear of these people getting scammed - as life in general is just an open world game when you can afford to be throwing hundreds of thousands on a picture of a monkeyon a whim. It's just gamification of finances for the ultra wealthy, like Pokemon cards or beanie babies but with an extra 5 or 6 zeros attached and without any of the fun. Welcome to the gaming metaverse. Lol.

[@PikaEast]

I really don't understand why some people need to learn why we have centralization and protections the hard way pika

[@matthewyoho5422]

The answer is unfortunately "they have libertarian brain rot", and their obsession with things being decentralized is not actually based on anything remotely approaching rational; no matter how many clear cut, obvious examples you can show them that they are creating a clown world that doesn't work and should be abandoned, they WILL NOT listen to you or renounce their obsession with things "being decentralized", because for them, being decentralized is essentially a core tenet of their religious belief structure.

[@johnr797]

They think the records are their protection. But when everything is supposed to be completely anonymous it's like being able to watch someone shrouded in black mist rob you from behind bulletproof glass *squirtle*

[@thespider7898]

Watching people and companies get banned from the centralized financial system for arbitrary reasons is enough for wise people to seek alternatives.

[@xxuberxjasonxx3456]

They've learned that from university about mathematics and businesses investors so they can sign up on crypto which is really the most shittiest scam on a planet for their greed and I don't care how intelligent they truly are, their all greedy like the rest of them.

[@PikaEast]

@@thespider7898 this ain't it pika

[@morbidsstudio]

Keeping up with the cryptominums, drama series like no other :D Keep it coming brotha!

[@suyang4505]

Excellent explanation.

[@cyphi474]

They disabled alarm and left door open. Honestly, it could be preparation for rug pull. Or it was, rug pull....

[@mk7893]

From the Philippines myself and also an axie 'scholar' for my friend that owns the 'axies' and just do it for fun when I have nothing to do. Sucks that alot of people are investing in this hoping it to be their main source of income though :(

[@insomnia20422]

They are brainwashed fools that think free money grows on trees and they just need to shake it every hour. People need to wake up. If you wanna make money you gotta work.

[@ammagon4519]

That's exactly what the problem with the filipino players, people straight up make these as their entire career, and not just some side thing you can get some money here and there. Our country is doomed to fail, and we're here to witness it.

[@silverhawkscape2677]

@@ammagon4519 Because what else can they do that can make them money? Its easy especially how can make more money than back breaking work.

[@ruhtraeel]

Lol the stock videos in the background are hilarious, like the programming one which is actually just doing UI stuff

[@MsHojat]

That liquidated shorter is perhaps the most sad/disgusting thing of the whole story!

[@crystalwings4520]

I got an ad about an 'eneftee' tank game before this video started, lol.

[@anfhe]

I got an ad for market manipulation right in the middle of this vid and I honestly thought it was just Kira explaining the stock market to me for context until I looked at the screen.

[@thealexking9925]

Some times i ask myself why im not comiting fraud with nfts

[@Helmotz.]

I love those story videos

[@mufasafalldown8401]

Absolutely insane.

[@porcus123]

Lol, I like that the crypto community treats its trackability as a shrodinger cat, its completely anonymous and completely trackable depending on what aspect is makes it easier to convince the other person Edit for typos

[@SiberianTiger888]

That's because there's different blockchains for different purposes. Monero is completely anonymous, Bitcoin is completely public (at least the wallet addresses are). It's like theres different cars for diff purposes and u can't really be upset that a van is not a ferrari

[@vthings001]

Good luck to the hacker. Hans Gruber : "Well, when you steal $600, you can just disappear. When you steal 600 million, they will find you, unless they think you're already dead." Hey that quote is actually the same amount of money this guy is trying to launder, hah.

[@NeoVault_]

They basically made themselves a national target, or IRS priority number 1.

[@silverhawkscape2677]

Yup. In the end the money will be returned. He got too greedy. 60 Million would have been enough

[@zometthecomet]

Yup this person / group is already found it’s just being planned to catch them and when !

[@NeoVault_]

When, probably when the IRS realizes the offender's budget is not in line with their income. They caught Al Capone this way. They'll catch this person the same way too.

[@_DATA_EXPUNGED_]

@@NeoVault_ There are many more countries than the US, just saying. Only 5% of the world's population lives there. If they're from russia/china/ex-soviet states etc, nothing will ever come of it because nobody there cares and american legal reach only goes as far as extradition agreements go. There's a reason the most prolific crypto-thieves tend to be operating from those countries. Worst case would be they'd have to share.

[@scuffedcomedy4819]

Scams like these "Sorry we got hacked" are the safest rug pulls for the devs/people behind projects

[@Vovi-Knight]

pro tip in the light bulb icon there are some quest you can do anywhere that give you free loot as well as a free pet, also these quests arent time limited but the pet is so if you play on reboot you can skip doing the do you know about pets light bulb quest but when your reboot pet expires you can then complete the do you know about pets quest to get ANOTHER free pet although this one is also time limited so don't use one of them save one till the other runs out and don't forget to use pet food to keep them around otherwise they will start to disappear every 20 seconds or so meaning you would have to constantly resummon them also do the, eye opener quest light bulb quest when you reach level 50 as well as the level 60 light bulb quests have you heard about potential and the follow up quest have you heard about bonus stats for a free shoulder and ring both of these aren't dropping for a while later you can do bosses to get better ones but for now this should do furthermore light bulb quests are per character so if you make a new class you still get to do them again and get the free items and the reboot pet is also per character and finally some bosses can't be fought unless you do their intro quest as far as I know this are also in the light bulb quests again per character although they are changing boss specific quest so if you unlock a boss you don't have to do the intro on every single character anymore, hope this helps sorry that its so long :p

[@Tnscla]

The Cobie story was unexpected. The new video format is great, its more "main monitor content" and this is not bad.

[@sweepingtime]

This video is kind of a briefing on Axie at the same time. It's absurd to report the hack a week after it happened.

[@koteshima6682]

A lot of my friends have been into this, been noticing they haven't posted much about it recently when in the beginning they were all like "this is the newest trend now it's so easy". So this is why.

[@georgewilliam2842]

I'm not an axie player and I live in the Philippines. But what saddens me the most is that our school just finished intramurals with different online game tournaments with axie being one of them.

[@sonnyr.3842]

Some of people I know literally quit their jobs for this 'game'. at first they're earning like twice to three times of their monthly salary (1000 to 2000 dollars monthly) which was really amazing. They actually asked me to play for them and in return they will pay me but I had my doubts, plus I don't really want to waste my time with this kind of 'games' I wanted to get immersed in gaming. Anyway, I sure am happy for them. But after like a few months then this happened. Like from being able to earn 1000 dollars a month they are only earning below 500 dollars and it got worst. Some of them, the rich ones who actually know the how to of this kind of market quit when they earned tons of money. I feel bad for some of them because they traded their jobs for something that is not permanent. It's gambling not a real video game.

[@Its_Syxx]

You have to enable that Dark Mode for KZbin.. lol. Great video though as always.

[@mklptrk]

Your b-roll is incredible, bravo

[@edmras4306]

when I heard this couple days ago I jumped in to check the price was expecting to see a price crash, and I see it's in green =)), even now it sits at 50$...

[@teeceedee]

that guy laghing at minute 6:30 gave me new life

[@Penfold101]

Waiting on someone running Tornado Cash seeing the value and stealing the whole lot…

[@hamigakisan7094]

How nice of that art thief @9:55 to close the door behind him!

[@Chris-zg7ty]

I read about this the other day and I knew it was only a matter of time before I saw it here. lol.

[@kenn5287]

I'm laughing as hard as the guy @6:30, thank you for brightening my day sir.

[@redwillow311]

I shit you not. The god damn AD for this video is for Axie Infinity! I'm legit losing my mind.

[@haveheart2630]

Update: FBI tracked the ETH to Lazarus group in North Korea.

[@eereno9114]

I'm from PH and all I can say is, if your main player-base is mainly from the Philippines, that's a red flag.

[@danporter1364]

Love the vids man, you've gotten me into a new hobby of looking into this stuff myself( I like numbers :p) still learning but damn it's interesting as all heck! Thank ya :D

[@crashedfighterproductions]

My uncle tried getting me into this "game". So glad I didn't listen 🤣

[@prycenewberg3976]

If the hacker only cleans 10% of his stolen ETH, he still gets away with $50 million. That's a nice pay day.

[@KhaoticKaos]

this is so insane man, really appreciate your bringing these crypto scams to the public

[@TrickyJebus]

Lol my friends didnt care about it. They still pressuring me to try out Axie. I still get to read articles that Axie is popular. My country is dumb.

[@ShayRubachOfficial]

this is insane.

[@timohess3909]

Imagine the face of the person from the organisation noticing the loos"🤨😐😶😶😂🤢🤮🤮🤮😳😳😳😦😧😨😰🥺😫😫" something like this

[@phillumenistfilms]

Damn! the world is sadly broken.

[@soundrogue4472]

What? I am shocked! I am TRULY SHOCKED! I will show the crypto-bros this to point out why IT CANNOT WORK!!!

[@TypausZuendorf]

The fun part is the first 4 min or so he is just describing the Modern World in general 🤣🤣🤣

[@SadisticSenpai61]

Wait, they fundraised a bailout for the company?! Oh gods. That's ridiculous.

[@kypdurron6141]

KZbin gave me an nft ad on this video lol

[@lpfan4491]

That is why the keys have to always be voided. Doesn't matter if the hacker was on the inside or the outside, this just sucks nuts and could have been 100% avoided if anyone in this who was not involved in the grand theft paid enough attention.

[@firefly4f4]

One slight issue: you can't really transfer information from one chain to another. At most you can exchange the cryptocurrency on one chain for an equivalent amount on another. It's exactly like, say, converting US Dollars to Euros; you simply swap one for another, less the fee given to whomever is doing that conversion. So far, so good; this is mostly normal. Where this becomes an issue is for NFTs, which are only unique on that particular chain. You can't just move an NFT from one chain to another because, just like the coins, that token only has value, only has MEANING, only has uniqueness, on that chain. If you "move" an NFT from one chain to another, what actually happens behind the scenes is you're creating a copy of that NFT on the new chain, and attaching a note on the former chain saying, "this token is somewhere else; don't use it." It's the digital equivalent of making an exact copy of the Mona Lisa, putting that copy in the New York Metropolitan Museum, and placing a note in The Louvre saying, "You now must go see Mona Lisa in the Met instead of here!" It's all kinds of ludicrous.

[@DexySoul]

Dude, where did you get the video of someone unloading halibut? I lived in Homer, AK for years. I have stood right there on that table lmao.

[@jamesthomas4481]

Owner wanted out so they had a "hacker" "steal" the money lolz.

[@dsandoval9396]

This is so funny I honestly have no ill will towards the hacker, as a matter of fact I hope he/she/they get away with it. The whole "Don't hate the playa', hate the game" idea comes to mind. And as you mentioned it only shines a light on how ridiculous the whole thing is. I do mine ether and monero but I've never purchased (and I sure as hell haven't purchased an NFT) but most of all I know not to put my eggs all in one basket, anyone who puts their whole investment in ONE source is a sucker who have no business making money decisions. Everyone who lost their money should be pissed at Axie Infinity and Sky Mavis for rolling out the red carpet to the back door, all the hacker did was help himself to what Axie and Sky implemented.

[@Khalith]

What a time to be alive.