Current Affairs Stocks and shares and stuff

Status
Not open for further replies.
Paris said:
The more I read the more I'm amazed that such amateurs were able to hack into the pipeline. Certainly doesn't speak well of the pipeline's security, that's for sure. Yet another thing I spoke about a few weeks ago, of course.
Click to expand...
Security certainly didn’t seem very strong but on a lot of basic infrastructure isn’t. Going to be important to see how much can be fixed by changes in user habits (don‘t click on that phishing email!) vs some of the hardware/softeware upgrades as those will be very expensive. Worry in particular about healthcare services.
 
A conspiracy theorist could justifiably wonder whether the pipeline was actually hacked. I'm not a conspiracy theorist but these must be genuine amateurs if they kept the funds in a custodial wallet (i.e. an exchange like Coinbase or Binance and requires KYC). I just don't see how it's possible for them to make such an amateur mistake. It's like that scene in the Italian Job where they do the hard part of nicking the gold but then drive off a cliff.

A conspiracy theorist could also point to it being convenient timing given that not just El Salvador but also other nations in Latin America will be adopting bitcoin as legal tender, but the US Government wants to keep its tentacles wrapped around Latin America, including keeping it trapped in dollar denominated debt.
 
Paris said:
A conspiracy theorist could justifiably wonder whether the pipeline was actually hacked. I'm not a conspiracy theorist but these must be genuine amateurs if they kept the funds in a custodial wallet (i.e. an exchange like Coinbase or Binance and requires KYC). I just don't see how it's possible for them to make such an amateur mistake. It's like that scene in the Italian Job where they do the hard part of nicking the gold but then drive off a cliff.

A conspiracy theorist could also point to it being convenient timing given that not just El Salvador but also other nations in Latin America will be adopting bitcoin as legal tender, but the US Government wants to keep its tentacles wrapped around Latin America, including keeping it trapped in dollar denominated debt.
Click to expand...
Err Paris mate??? That does seem exactly what a conspiracy theorist would post!

Seeing people far more into the weeds than I not convinced it as simple as seizing a custodial Coinbase wallet but lets give it a bit of time to see how this plays out and we get more info on what happened before jumping to conclusions.

Also pick a side man - either crypto has tools that help law enforcement “Just shows that criminals ought to think twice about trying to demand payment in crypto. As I've explained many times already, unlike cash, it's possible to see and to track transactions.” or only the stupid would get caught “I just don't see how it's possible for them to make such an amateur mistake..” ;)
 
Paris said:
A conspiracy theorist could justifiably wonder whether the pipeline was actually hacked. I'm not a conspiracy theorist but these must be genuine amateurs if they kept the funds in a custodial wallet (i.e. an exchange like Coinbase or Binance and requires KYC). I just don't see how it's possible for them to make such an amateur mistake. It's like that scene in the Italian Job where they do the hard part of nicking the gold but then drive off a cliff.

A conspiracy theorist could also point to it being convenient timing given that not just El Salvador but also other nations in Latin America will be adopting bitcoin as legal tender, but the US Government wants to keep its tentacles wrapped around Latin America, including keeping it trapped in dollar denominated debt.
Click to expand...

it was the billing system that was compromised, not the pipeline itself.
 
LinekersLegs said:
Err Paris mate??? That does seem exactly what a conspiracy theorist would post!

Seeing people far more into the weeds than I not convinced it as simple as seizing a custodial Coinbase wallet but lets give it a bit of time to see how this plays out and we get more info on what happened before jumping to conclusions.

Also pick a side man - either crypto has tools that help law enforcement “Just shows that criminals ought to think twice about trying to demand payment in crypto. As I've explained many times already, unlike cash, it's possible to see and to track transactions.” or only the stupid would get caught “I just don't see how it's possible for them to make such an amateur mistake..”
Click to expand...

Wasn’t this the argument between Clooney and Pitt at the beginning of Oceans 11? If you have a competent fence you don’t need to move cash?
 
LinekersLegs said:
Err Paris mate??? That does seem exactly what a conspiracy theorist would post!

Seeing people far more into the weeds than I not convinced it as simple as seizing a custodial Coinbase wallet but lets give it a bit of time to see how this plays out and we get more info on what happened before jumping to conclusions.

Also pick a side man - either crypto has tools that help law enforcement “Just shows that criminals ought to think twice about trying to demand payment in crypto. As I've explained many times already, unlike cash, it's possible to see and to track transactions.” or only the stupid would get caught “I just don't see how it's possible for them to make such an amateur mistake..” ;)
Click to expand...

Everything you do on the internet leaves a crumb and BTC is no different. However whatever these people did, if it actually happened, made it so simple to recover the funds.

It definitely was a custodial wallet btw.

This is also worth a watch if you haven't already:

 
Last edited:
E3TrUYhVcAAIu7A
 
Status
Not open for further replies.

Welcome

Join the Everton conversation today.
Fewer ads, full access, completely free.

→ Log in 🔑 Register
🛒 Visit Shop

Support Grand Old Team by checking out our latest Everton gear!
Back
Top