Posted by Tiberium 13 hours ago
Need to get better in prompting
I guess at some point they'll have to cash out. Seems hard to spend $6B in vape shops.
Binance wallet 16 came online in 2021.
Why to wait 5 years to attack.
What am I missing ?
the laundering wouldnt be all that hard to take those buttcoins on in exchange for clean ones.
edit: I suppose it would be hard still. You can get anonymity inside wallets with Tornado Cash but then to turn that into actual money it will be very dependent on the country
Whoever went for this has some balls.
The hack is purely technical in nature.
This could have been the FED's system that got compromised and the response would have been the same.
Oh, no, sorry - it wouldn't because we wouldn't even know it happened as FED is fully opaque while crypto is quite transparent.
In that sense crypto is much more democratic because at least there's some ability for the public to audit it. With FED there's none.
Separation of duties so more than one person is needed to create and then approve such transactions?
Same goes with startup banks - if you exceed FDIC limits, make sure the difference is in a large institutional bank. Nearly learned this one the hard way.
Trying to save a few basis points in txn fees in very volatile industries comes at a huge risk premium
> “A lot of the people who come into this money are flashy, and they’re signaling that they have wealth,” he previously told The Post.
As long as you don't brag about it, I don't really see this being a real world issue. I think credit card fraud is a lot more likely.
If someone steals my notebook I take a bigger hit on my net worth lol.
But it's also surprising that it happened to binance at all. This checks a lot of the boxes for being, at least indirectly, an inside job.