Blockchain Startup Harmony Says $100 Million Was Stolen From Its Service - Slash...
source link: https://tech.slashdot.org/story/22/06/24/1532217/blockchain-startup-harmony-says-100-million-was-stolen-from-its-service
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Blockchain Startup Harmony Says $100 Million Was Stolen From Its Service
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binspamdupenotthebestofftopicslownewsdaystalestupid freshfunnyinsightfulinterestingmaybe offtopicflamebaittrollredundantoverrated insightfulinterestinginformativefunnyunderrated descriptive typodupeerror
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Here's TFS translated into pirate for you,
I'm assuming that the pirates will spend their loot on wine, women & drugs, & then squander the rest.
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When a $100M heist is only "one of the biggest [] in recent weeks", your system Just Might (tm) have a security and fraud problem.
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When a $100M heist
Don't worry! With the way crypto is falling, this will soon be only a $1 heist.
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I can just imagine the FBI agent getting that email, if it even made it past the spam filter.
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No, these are all inside jobs. All these exchanges were set up to relieve people of their money. Watch the C-level execs magically disappear into anonymous retired bliss
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To retire with their ill gotten gains, they need to sell them. As has been proven, the FBI ( or any other agency) can trance the transactions from the blockchains and thus find who "stole" the bits.
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Inflation.
As a million dollars slides down toward the price of a soda, it'll be more and more irrelevant.
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Blockchain! Blockchain! Blockchain! Blockchain!
Wasn't blockchain supposed to fix all these pesky "heist" problems?
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You need a animated GIF of Ballmer saying "Developers! Developers! Developers!" and the replace the text with "Blockchain! Blockchain! Blockchain!"
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I don't know about that, but it was supposed to do my dishes. Still waiting.
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They cannot cash out. The exchanges are all getting blocked.
Nothing has been really lost, because the legitimate owners couldn't cash out that amount either.
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[giggle]
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Someone stealing millions from me has always been my worst nightmare. I have another pretty bad one with billions, but it is way too personal for here.
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Do you also worry that your wife, Morgan Fairchild, is going to leave you?
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I have no idea who is she, but it might be for the best. Knowing each other well is an important part of marriage.
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It was funny for the first dozen or so of these stories, now there's been enough that it's kinda boring but at some point it'll keep happening and then it will get really funny again.
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"biggest heist in recent weeks" for a $100 loss. These are so common that I think at least some of them have to be inside jobs. I mean, you've got a bunch of guys with access to $100 million in assets, little or no regulation or oversight, and they know that at any time those assets could be worthless and they're back to working at the gas station. The temptation to cash out must be overwhelming.
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The bottom quote on the "Blockchain Startup Harmony Says $100 Million Was Stolen From Its Service" story etc. is wrong per IMDB (and my memory).
Wrong: "Gort, klaatu nikto barada." -- The Day the Earth Stood Still https://tech.slashdot.org/stor... [slashdot.org]
Correct: "Gort! Klaatu barada nikto!" https://www.imdb.com/title/tt0... [imdb.com]
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“Gort! Deglet ovrosco!"
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Klaatu
Barada
Necktie!
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Taxpayers should not be funding any investigations to get their money back.
They wanted to escape the government, that's what they should get. They made their own bed, now they have to lie in it.
https://www.youtube.com/watch?... [youtube.com]-
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For sure. These criminals committed cybercrimes. They should be investigated, caught, and imprisoned for unlawfully accessing computer systems.
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Sorry but horseshit. Taxpayers should absolutely be funding tracking of criminals regardless of who we're talking about or what political ideology.
Let's take your example to the natural conclusion: A republican is murdered, police shouldn't bother investigating because the person supported "small government". The position is ridiculous.
Absolutely there should be no government bailout, or financial assistance to the victims (or their customers) for all the reasons you state, but the taxpayer funding the inve
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> A republican is murdered, police shouldn't bother investigating because the person supported "small government"
Republicans LOVE the police state, though. In fact in practice Republicans do not actually support "small government" in any meaningful way...
That said, this isn't murder and comparing it to a murder is not the logical conclusion. This is theft and/or fraud. If you create a system specifically to circumvent government oversight, it seems hypocritical at best to expect government enforcement.
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Notice that I said:
So, horsehit to you.
Should the government investigate, catch and imprison the criminals? Yes.
Should the any effort be wasted to get the lost crypto non-money back? No.
My statement put both those things in conjunction because that was my intent from the beginning.I can't believe I need to remind people on a nerd site about conjunctions.
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by thegarbz ( 1787294 ) on Friday June 24, 2022 @01:32PM (#62648028)
You know the state of the industry is just utter shit when someone steals $100m and the story is that this is the biggest heist "in recent weeks".
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Expect to see the company quietly fold, with its executives waiting a while and then buying some of those Russian yachts that have been seized.
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If this company knew anything about crypto-currency, why didn't they keep their money in an FDIC-insured bank where there are regulations and consumer protection? It's one thing if somebody knows nothing about technology and had $100M of purported-value crypto-currency. But these guys are a crypto-currency company and know how it works. That by itself should have been enough for them to keep their assets in USD held at JPMC or Citi or another large institution that has regulation and Tier 1 capital requirements and such.
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