I wrote up what we know about the Binance hack so far. By my best estimate, Binance is out around $3 billion after stablecoin issuers froze what they could. Changpeng Zhao is promising Binance will cover it, but he’s legally barred from running the company.
Commenti (15)
@molly0xfff@hachyderm.io oof. I never thought about it, but that last part hit me. Deposit huge sums of fake value , then take loans against that in real money. Of course they do this. Especially with stolen points of fake value
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@molly0xfff@hachyderm.io A billion here, a billion there, pretty soon we're talking about real money.
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3-5bil crypto heist is crazy work. History tells us it can go any way, a "lucky" individual, disgruntled employee, well oiled and/or funded team, or a foreign government... I expect the last one tbh
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@molly0xfff@hachyderm.io law enforcement shouldn't waste resources defending what amounts to some amalgamation of competing currencies and unregulated financial products
Of course, we're governed by people who have accepted bribes from crypto folks. Not to mention the fact that the Trumps / Republicans have done crypto rugpulls and have a pattern of spending the people's money to profit themselves & their partners in crime (all the no-bid contracts that have gone to Trump-related companies, insider trading on his illegal war while making oil expensive, the war itself over non-existent WMDs, more contracts FROM that war, etc).
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🌊 
🅱️ 
🎚️er
🅱️ 🎚️er
1 giorno fa
Lingua dichiarata dall’autore: Inglese
I would laff but I am all out of Gillettes and other guilotine type tax payment incentives e.g. Firing squads and semi lethal prescription drugs and eletric lounges/chairs etc.
Maybe IT could accidentally be hanged Epstein syle?
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