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Thread: Another $62 million gone

  1. #1

    Default Another $62 million gone

    $62 Million Gone? Cryptocurrency Mining Market NiceHash Hacked




    Though the team didn't disclose an exact amount, a wallet address circulated by NiceHash users suggest that as many as 4,736.42 BTC an amount worth more than $62 million at current prices has been stolen.


    https://www.coindesk.com/62-million-...cehash-hacked/

  2. #2

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    Quote Originally Posted by Silver and Gold View Post
    $62 Million Gone? Cryptocurrency Mining Market NiceHash Hacked




    Though the team didn't disclose an exact amount, a wallet address circulated by NiceHash users suggest that as many as 4,736.42 BTC – an amount worth more than $62 million at current prices – has been stolen.


    https://www.coindesk.com/62-million-...cehash-hacked/
    There are always going to be folks who lose money in schemes that aren't secure, or outright fraudelent.
    Back after the dust settled in the great silver run-up of the late 1970's-early 80's, I knew many who somehow lost all their money through various and sundry bucket shops of the day. It would be silly to blame silver for the loss, just as it's silly now to blame bitcoin for some loss. It's really only the fault of the buyer for investing in such a scheme, of which their are many. I'm sure we'll see more such losses. It seems to be adding an unnecessary level of risk to trust some joe shmo mining pool instead of simply eliminating THAT risk and just put the money directly into Bitcoin.

  3. #3

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    Not gone. Just a form of "wealth redistribution" made popular and routine by the crypto space.

  4. #4

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    O.K., so, simple question, should be easy to answer:

    I'm a thief, I hack your wallet or whomever and I get your stash of crypto

    What do I do then?
    Just put them into my wallet and no one will recognize, sometime in the future, that I now have spent, more than I have registered as ever having accumulated?
    Isn't that going to set off alarms from the "bean counters"?
    There is now a record of who's lost what, according to the hack records and that leaves all that crypto to be released into the cycle from address's wallets etc that only have on record a set amount of purchases / transactions and each of those leave a view into the wallet of each party

    Aren't all records recorded?
    Aren't all transactions recorded?

    Aren't the general amount of BC's known to be, where they are known to be, at any given point in time? isn't it possible, to look at every account as it is accessed/used to see any irregularities?

    Chan4 have people who probably do that for a hobby, lol

    so, poof, doesn't answer the question:
    Where did these cryptos go?
    Like some of our politicians, we'll see no indictments? IDK
    LOL

  5. #5

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    Quote Originally Posted by Chump Change View Post
    Aren't all records recorded?
    Aren't all transactions recorded?

    Where did these cryptos go?
    Yes. Yes. They're in the public blockchain, along with all the rest.

  6. #6

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    Quote Originally Posted by AnotherDave View Post
    Yes. Yes. They're in the public blockchain, along with all the rest.
    So how does the thief launder this gain?

  7. #7

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    Quote Originally Posted by Atlas Shrugged View Post
    So how does the thief launder this gain?
    Google is your friend. It would have been your friend years ago too, if you had bothered to use it.

    (Oooh! Nasty Dave!)

  8. #8

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    Quote Originally Posted by AnotherDave View Post
    Google is your friend. It would have been your friend years ago too, if you had bothered to use it.

    (Oooh! Nasty Dave!)
    No thanks, I don't do google. Plus, when you asked a question in the past, I answered it.

    Anyone who states "google is your friend" most likely doesn't know.

  9. #9

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    Quote Originally Posted by Atlas Shrugged View Post
    No thanks, I don't do google. . .
    Explains a lot.

  10. #10

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    Wait until Coinbase gets hacked

    That'll really be the end

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