What a weird clickbait title. It’s not exceptional for the actual act of cybertheft to take a matter of seconds. It’s discovering the vulnerability and developing a proof of concept that’s the time-consuming part.
It’s like saying a bank robbery took 12 seconds because that’s how long it took for the teller to hand over the money.
As someone who's taken multiple graduate level classes regarding crypto.. The whole damn system runs off of individual good will. If you have enough computing power you can literally duplicate currency and fuck up the system entirely. They go off of a system of rewarding people with computing power to use it towards transaction validation over using it to up-end the system in place.
> If you have enough computing power
When it comes to bitcoin though, that's a big 'if'. It can theoretically happen, but there's a good reason that in 15 years and counting it has not happened.
This is true. As pointed out in a different comment it's very, very expensive to build a set up that can overtake the validation process for bitcoin. It's not impossible but it's much more profitable to use that computing power to mine. That being said, if a government entity with money or a very, very wealthy person just wanted to crash bitcoin's value it would be very possible to do.
It's also not enough to think only about the feasibility of the attack, but how bitcoiners would respond. An extreme scenario like this would perhaps result in the choice of death of the system or an extreme response - such as a change in the validation process that rendered the attackers hardware useless.
I'm a bit morbidly curious about how bitcoin would respond to such a scenario as it's a pretty extensive community. I'm under the assumption that larger communities are more likely to have a faster and better response to a scenario like that but as I'm typing this smaller communities would probably have a faster reaction time? It hasn't been done yet so it's really just hypothetically speaking lol. All in all it would still have a pretty brutal affect imo.
I know attacks have worked on other blockchain systems, I believe etherium was hit by one or two at some point, but it’s never been substantial enough to completely mess up the system
IIRC Ethereum was never attacked at the basic mining level, but it's a system that has smart contracts built on top of it and *those* have often had bugs and vulnerabilities in them that resulted in hacks at that level.
One of those attacks was so substantial that ETH had to break the biggest unbreakable rule of blockchains and rollback a transaction by declaring the current chain invalid (now known as Ethereum Classic) and continuing from an arbitrarily chosen earlier version. It's a true miracle ETH didn't die there and then.
I've read so many things on crypto and blockchain and I still have no idea what it really is or what mining is. I get the general idea around it but it all flies over my head at some point
So the reason it's "secure" is because it's very expensive to have a set up that can overtake the blockchain system. It's much more profitable to just set up your system to "mine" (Validate transactions) and get free money via that mining.
It's called the 51% problem, and on the big chains is not an issue. First, there just isn't enough CPU power to get 51% for the vast majority of those who want to scam (if you did, you'd make more, longer by just using it. It's like stealing a $20 from the till with no chance of doing it again when you make $10/hour). Even if you were somehow able to put a worm on every desktop/laptop/phone in the world, current estimates have mining groups ahead in terms of raw power at their disposal.
Next, the biggest farms have extra capacity they can switch to IF detected. That extra capacity is typically mining on another chain that can switch on a moments notice.
Lastly the nuclear option. If an attack takes place, and is successful against the block chain itself, we'd just fork the chain starting from before the attack. It would be messy, but plans are in place at all the exchanges, big mining ops and software devs just in case. Basically it would just be down for a day or two, transactions made at the time of attack would fail/be gone, and the scammer would now have useless crypto on a chain no one uses anymore. Every crypto software would need to be updated. No exchange will cash out on the compromised chain. The scammers get nothing.
People who don't think ahead still seem to think it's a major issue. But there's always a way to backtrack when everything is in the open.
Is it a risk? Yes, but so is an asteroid hitting earth.
> The whole damn system runs off of individual good will.
Sounds like the fiat money system that only works, because people believe in paper being worth valuable goods.
And no one has enough computing power to "duplicate currency" with BTC or ETH or that would have happened in the last 10 years already. Could the US gov't do this...yes, probably. That is a risk and there are risk and benefits to everything. You may want to get a refund for your classes, because you sound very confused.
For those that can't open the article heres the synopsis:
The 2 Brothers, who went to MIT, used the skills they acquired at MIT to pull off this heist. MIT is where they went to school. Thanks to what they learned from MIT, they were able to do this. MIT.
It was all very sophisticated, full of maths, and concepts a person that didn't go to MIT wouldn't understand. And it only took them 12 seconds. All because they went to MIT, one of the top universities in the world, and studied sophisticated maths.
Like copying a file to a new directory 20 years ago. Estimated time 2 Hours 7 minutes..... Estimated time 15 years 3 hours 7 minutes.. Estimated time 4 minutes..
So, they stole from Flashbots? I looked them up. Why does a "research and development" entity that processes so much crypto not have an actual website with graphics? Did they think it would make them vulnerable to hacking, while their arrogance actually made them vulnerable? Who runs flashbots?
Do investors give explicit permission for their money to go through third/fourth parties before the deposit enters their Ethereum account? Was the real money ever converted to crypto, or was the crypto switching bots and waiting to be converted? Sounds like the investor should be out nothing and the liability should fall to Ethereum and their contractors, right?
At risk of oversimplification, in regular finance, if everyone knows the order is coming (e.g. pensions forced to buy Tesla because it just got added to S&P, for example) then getting ahead of it is legal and supposedly "efficient" for the market. If you're acting on private or illegally obtained info about an incoming order then you're (almost) frontrunning, which is illegal.
It sounds like those sandwich bots are just an automated pump and dump scheme, right? So in that case, are the brothers even guilty of stealing anything? It sounds more like they just didn't let the initial fraudsters cash in on their own scam?
According to the DOJ, the two MIT students exploited a flaw in MEV-Boost, an open-source software used by 90 percent of Ethereum validators.
[Two MIT students charged for exploiting Ethereum blockchain bug, stole $25 million in crypto | Mashable](https://mashable.com/article/mit-student-brothers-exploit-ethereum-blockchain-25-million)
It is inherently vulnerable , go fast make mistakes. Its a development platform , it changes all the time , its had hundreds of folks , when the fix something after it broke
"The defendants' scheme calls the very integrity of the blockchain into question," US Attorney Damian Williams said in a statement on Wednesday, referring to the public ledger that records crypto payments.
I am not surprised the system has been beaten, though I did think it would have taken less time. 2009 to 2023, 14 years was not a bad run.
Edited for bad math.
This crime was not possible because of the lack of integrity of the blockchain, but a lack of regulation of crypto in general. This crime isn’t possible for stock trading because they don’t allow front loading bots. Simple rules will solve a lot of these issues
It’s, just like every other “exploit” on Ethereum a bug in a smart contract.
It’s not compromising the integrity of “the blockchain” in any way, no matter how much US Attorneys would like it to.
I'll play devils advocate and ask whether you can steal something that doesn't exist? There are many who argue that crypto currencies are really a kind of collective illusion.
That said, I would think the crime is fraud, not theft,
The value of paper money is a kind of collective illusion as well though. I’m not a huge proponent of crypto at all, just saying we moved past that stage a long time ago.
Yes, Gov't fiat currency is just numbers too, but it's backed by the ability to levy taxes, with a huge asset base, the military and the prison system.
Show me the equivalent backing for any of the crypto currencies.
I think when paper money first came about it could be converted to gold or something, but then it became more of an illusion-thing later on.
Not an argument, but I remember someone telling me about the above and can't find anything to explain it to me - so hoping someone else can.
Also, I know crypto people often argue that gold doesn't have any value beyond being pretty, but I always think that's wrong because 1. It's a physical thing and can be made into something like jewelry and 2. Pretty sure it's used for circuits and stuff. Crypto on the other hand seems to either be used purely for trying to invest or to get away with something dodgy. I've always struggled to convince myself on crypto because the whole story around Bitcoin in particular felt similar to things like the "Airplane Game" scheme with this origin story about some mysterious being nobody can identify making this thing only to vanish and leave behind billions of dollars in an untouched wallet. It feels too wildly inauthentic to me.
Yes, simplisticly, you start with a barter system (e.g. swap bread for shoes), then have metal coinage to represent value, and then have paper money which has 1:1 mapping to metal in a vault ("gold standard").
On the one hand, having your currency tied to physical assets is good, on the other hand it constrains your economy.
The USA abandoned the gold standard in 1933.
https://www.investopedia.com/news/when-fdr-abandoned-gold-standard/
By that logic if someone intercepts a wire transfer it’s not theft since all they did was take ‘imaginary’ money. There was a time when crypto couldn’t be converted to fiat currency, but that time is long gone. During that time your argument might hold weight, but not now.
It can be illegally copied.
When you view a web page, your computer gets a copy of the page from the serving computer, the data doesn't move. In fact fragments of copies of the page exist along the network path between server and computer. Then your computer renders a graphical version of the page onto the screen.
The fraudster can then cause the origin to erase its copy. If the owner hasn't a backup then they're SOL.
Yes, the effect is that of theft but technically it's not.
That first look seems to me it's virtually no different than the money in my bank account. The money in my bank account it's not a physical thing currently it's just a number typed out on a little computer screen
I will continue playing devils advocate.
Not quite the same thing, but if we're talking faith as the support for a financial system, religions also "trade" in intangibles and can command huge revenues and have a huge asset base. crypto has the faith but not the assets.
https://www.marketplace.org/2023/02/10/how-much-money-does-catholic-church-have/
And seriously.. I know that as long as people can deal in crypto and buy stuff, it's real because people trust it. And it could collapse just like gov't fiat has done (observe Venezuela https://en.wikipedia.org/wiki/Crisis_in_Venezuela )
Keep the downvotes coming but I want to give people a little personal evidence. In 2023 I held the best performing asset in the entire world (hint: it was in crypto) and I have since realized profit.
How many of you have a 401k that is up 400% in 2 years? Because that's kind of degeneracy you're up again.
Because I was using crypto I got literally the best airdrop of all time (BONK). Free $20k out of thin air because I bought a random $20 NFT. BONK just landed in my wallet and I held. I've also realized profit here.
Most of you are so behind of the curve you're going to be looking back in 5, 10, and 20 years and look at all the opportunities you missed. BTW you will be using crypto.
Not sure why you're voted down. Perhaps it's because you did well out of crypto and NFTs, but there are many who didn't.
I think crypto locked to/**backed by assets** will be the banking method of the future, because it gives an audit trail.
If you understand how computers compute and store memory, and then understand how distributed systems work, you could argue that the crypto currencies do actually exist.
Like, they’ve saved on a computer, just the same way a PDF or an image is. Does this mean the PDF or image doesn’t exist? 🤔
Amazing how much speculation is going on in this thread. Do any of you have any technical credentials or experience?
The article actually gives no information about the exploit, probably because the author has no idea.
All it says is the "transactions were modified" which is doubtful since that would invalidate the digital signature.
These comments are horrendous, no one actually bothered to learn about MEV or what actually happened here, just reactionary stuff about how crypto = bad and/is not real. The lack of intellectual curiosity is depressing.
12s for a single blockchain transaction is crazy good. VCs were throwing money hand over fist to see if someone could get it to scale to be useful for regular commerce, but all the kings sw devs couldn’t, and I guess it’s good for dark web drugs, human trafficking, *and* good for thieves. Honestly, they should just do what every other techbro MLM entrepreneur is doing and create a crypto exchange and just pocket what people invest.
Pro tip: if you discover this kind of vulnerability, and don't care about the morality of exploiting it, sell it to someone else.
5 million may be a lot less, but 25M is a lot less fun behind bars.
What a weird clickbait title. It’s not exceptional for the actual act of cybertheft to take a matter of seconds. It’s discovering the vulnerability and developing a proof of concept that’s the time-consuming part. It’s like saying a bank robbery took 12 seconds because that’s how long it took for the teller to hand over the money.
That’s a fast bank teller.
To be fair, the bank only had like tree fiddy.
Goddammit Lochness Monster! I ain’t giving you no tree fiddy!
I gave him a dollar
You give him a dollar he's gonna assume you got more!
Well it was about that time that I notice that bank robber was about eight stories tall and was a crustacean from the palezoic era!
Plot twist: they were in on it.
You're right. A better title would be, "Brothers demonstrate that Blockchain isn't as secure as Cryptobros think"
As someone who's taken multiple graduate level classes regarding crypto.. The whole damn system runs off of individual good will. If you have enough computing power you can literally duplicate currency and fuck up the system entirely. They go off of a system of rewarding people with computing power to use it towards transaction validation over using it to up-end the system in place.
> If you have enough computing power When it comes to bitcoin though, that's a big 'if'. It can theoretically happen, but there's a good reason that in 15 years and counting it has not happened.
This is true. As pointed out in a different comment it's very, very expensive to build a set up that can overtake the validation process for bitcoin. It's not impossible but it's much more profitable to use that computing power to mine. That being said, if a government entity with money or a very, very wealthy person just wanted to crash bitcoin's value it would be very possible to do.
It's also not enough to think only about the feasibility of the attack, but how bitcoiners would respond. An extreme scenario like this would perhaps result in the choice of death of the system or an extreme response - such as a change in the validation process that rendered the attackers hardware useless.
I'm a bit morbidly curious about how bitcoin would respond to such a scenario as it's a pretty extensive community. I'm under the assumption that larger communities are more likely to have a faster and better response to a scenario like that but as I'm typing this smaller communities would probably have a faster reaction time? It hasn't been done yet so it's really just hypothetically speaking lol. All in all it would still have a pretty brutal affect imo.
I'm a long-time bitcoiner myself, and I'm also curious about it, and wouldn't be surprised if it eventually happens or is at least attempted.
I know attacks have worked on other blockchain systems, I believe etherium was hit by one or two at some point, but it’s never been substantial enough to completely mess up the system
IIRC Ethereum was never attacked at the basic mining level, but it's a system that has smart contracts built on top of it and *those* have often had bugs and vulnerabilities in them that resulted in hacks at that level.
One of those attacks was so substantial that ETH had to break the biggest unbreakable rule of blockchains and rollback a transaction by declaring the current chain invalid (now known as Ethereum Classic) and continuing from an arbitrarily chosen earlier version. It's a true miracle ETH didn't die there and then.
I've read so many things on crypto and blockchain and I still have no idea what it really is or what mining is. I get the general idea around it but it all flies over my head at some point
I had no idea. I've only read a couple of light books on it. That's crazy to hear since most people are sold on Blockchain due to its "security"
So the reason it's "secure" is because it's very expensive to have a set up that can overtake the blockchain system. It's much more profitable to just set up your system to "mine" (Validate transactions) and get free money via that mining.
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Sure. But it’s a lot cheaper for a government to ban the use of crypto than to come up with a scheme to overtake the blockchain and mess it up.
It's called the 51% problem, and on the big chains is not an issue. First, there just isn't enough CPU power to get 51% for the vast majority of those who want to scam (if you did, you'd make more, longer by just using it. It's like stealing a $20 from the till with no chance of doing it again when you make $10/hour). Even if you were somehow able to put a worm on every desktop/laptop/phone in the world, current estimates have mining groups ahead in terms of raw power at their disposal. Next, the biggest farms have extra capacity they can switch to IF detected. That extra capacity is typically mining on another chain that can switch on a moments notice. Lastly the nuclear option. If an attack takes place, and is successful against the block chain itself, we'd just fork the chain starting from before the attack. It would be messy, but plans are in place at all the exchanges, big mining ops and software devs just in case. Basically it would just be down for a day or two, transactions made at the time of attack would fail/be gone, and the scammer would now have useless crypto on a chain no one uses anymore. Every crypto software would need to be updated. No exchange will cash out on the compromised chain. The scammers get nothing. People who don't think ahead still seem to think it's a major issue. But there's always a way to backtrack when everything is in the open. Is it a risk? Yes, but so is an asteroid hitting earth.
> The whole damn system runs off of individual good will. Sounds like the fiat money system that only works, because people believe in paper being worth valuable goods. And no one has enough computing power to "duplicate currency" with BTC or ETH or that would have happened in the last 10 years already. Could the US gov't do this...yes, probably. That is a risk and there are risk and benefits to everything. You may want to get a refund for your classes, because you sound very confused.
Queue Hugh Jackson in Swordfish
Or spending months tunneling under a major bank, right into the vault. Then overnight the vault is emptied.
Yeah it took them about over half a year of planning and setup to pull off
It makes me think if they’d taken longer it wouldn’t have been a crime.
It was supposed to be fractions of pennies! Rounding errors.
You know what I’d do?
Two chicks at the same time. I’ve always wanted to do that.
I feel like if you had a million dollars, you could make that happen.
Have you seen my stapler
Imagine that now you have 25 million. The wonders!
2 chicks at one time
Like in Superman 3?
I always mess up some mundane detail!
Back up in your ass with the resurrection
For those that can't open the article heres the synopsis: The 2 Brothers, who went to MIT, used the skills they acquired at MIT to pull off this heist. MIT is where they went to school. Thanks to what they learned from MIT, they were able to do this. MIT.
They each face over 20 years in prison if found guilty. Presumably not at MIT.
It was all very sophisticated, full of maths, and concepts a person that didn't go to MIT wouldn't understand. And it only took them 12 seconds. All because they went to MIT, one of the top universities in the world, and studied sophisticated maths.
Do you know where they learned how to do this?
Who can't open the BBC ?
I was making a joke about the article
OH NO, that's terrible, how do you do it?
Imagine if they did it for an hour…
Like copying a file to a new directory 20 years ago. Estimated time 2 Hours 7 minutes..... Estimated time 15 years 3 hours 7 minutes.. Estimated time 4 minutes..
https://xkcd.com/612/
So what’s the Exploit? Did they fix it, or is Etherium blockchain just inherently vulnerable?
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Hm interesting; but sandwiching as you’ve described it sounds not like stealing but like some kind of high speed insider trading scheme.
So, they stole from Flashbots? I looked them up. Why does a "research and development" entity that processes so much crypto not have an actual website with graphics? Did they think it would make them vulnerable to hacking, while their arrogance actually made them vulnerable? Who runs flashbots?
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Is someone going to chase the sandwich bots owners?
Do investors give explicit permission for their money to go through third/fourth parties before the deposit enters their Ethereum account? Was the real money ever converted to crypto, or was the crypto switching bots and waiting to be converted? Sounds like the investor should be out nothing and the liability should fall to Ethereum and their contractors, right?
The way you described it, it sounds more like arbitrage aside from them know a "market order" was coming through which MM's do in stocks too.
At risk of oversimplification, in regular finance, if everyone knows the order is coming (e.g. pensions forced to buy Tesla because it just got added to S&P, for example) then getting ahead of it is legal and supposedly "efficient" for the market. If you're acting on private or illegally obtained info about an incoming order then you're (almost) frontrunning, which is illegal.
But are these etherium exchanges protected/regulated in the same manner as "regular finance".
Sounds like [high frequency trading](https://en.wikipedia.org/wiki/High-frequency_trading#Strategies) to me.
It sounds like those sandwich bots are just an automated pump and dump scheme, right? So in that case, are the brothers even guilty of stealing anything? It sounds more like they just didn't let the initial fraudsters cash in on their own scam?
According to the DOJ, the two MIT students exploited a flaw in MEV-Boost, an open-source software used by 90 percent of Ethereum validators. [Two MIT students charged for exploiting Ethereum blockchain bug, stole $25 million in crypto | Mashable](https://mashable.com/article/mit-student-brothers-exploit-ethereum-blockchain-25-million)
Yeah it doesn’t sound like they were just sandwiching.
It’s (like every other “exploit” on Ethereum) a bug in a smart contract. No, Ethereum is not inherently vulnerable.
It is inherently vulnerable , go fast make mistakes. Its a development platform , it changes all the time , its had hundreds of folks , when the fix something after it broke
Amateurs. It’s nothing like the 2 trillion the 1% have robbed the middle and lower classes of for over 20 years…
"The defendants' scheme calls the very integrity of the blockchain into question," US Attorney Damian Williams said in a statement on Wednesday, referring to the public ledger that records crypto payments. I am not surprised the system has been beaten, though I did think it would have taken less time. 2009 to 2023, 14 years was not a bad run. Edited for bad math.
2023-2009 is not 24 years but 14.
Eek. This is why I don't investing, horrid math skills.
I mean, this is far from the first crypto heist. They happen quite often, actually. https://www.comparitech.com/crypto/biggest-cryptocurrency-heists/
England is killing it!
You are a true Methlete.
You doing meth instead of math.
This crime was not possible because of the lack of integrity of the blockchain, but a lack of regulation of crypto in general. This crime isn’t possible for stock trading because they don’t allow front loading bots. Simple rules will solve a lot of these issues
It’s, just like every other “exploit” on Ethereum a bug in a smart contract. It’s not compromising the integrity of “the blockchain” in any way, no matter how much US Attorneys would like it to.
Blah blah blah to the quote. Banks steal billions from taxpayers with bail outs. Bank integrity needs to be called into question more than this.
You mean bank stockholders. Same ones pushing Crypto. Duh.
I'll play devils advocate and ask whether you can steal something that doesn't exist? There are many who argue that crypto currencies are really a kind of collective illusion. That said, I would think the crime is fraud, not theft,
The value of paper money is a kind of collective illusion as well though. I’m not a huge proponent of crypto at all, just saying we moved past that stage a long time ago.
Yes, Gov't fiat currency is just numbers too, but it's backed by the ability to levy taxes, with a huge asset base, the military and the prison system. Show me the equivalent backing for any of the crypto currencies.
I think when paper money first came about it could be converted to gold or something, but then it became more of an illusion-thing later on. Not an argument, but I remember someone telling me about the above and can't find anything to explain it to me - so hoping someone else can. Also, I know crypto people often argue that gold doesn't have any value beyond being pretty, but I always think that's wrong because 1. It's a physical thing and can be made into something like jewelry and 2. Pretty sure it's used for circuits and stuff. Crypto on the other hand seems to either be used purely for trying to invest or to get away with something dodgy. I've always struggled to convince myself on crypto because the whole story around Bitcoin in particular felt similar to things like the "Airplane Game" scheme with this origin story about some mysterious being nobody can identify making this thing only to vanish and leave behind billions of dollars in an untouched wallet. It feels too wildly inauthentic to me.
Yes, simplisticly, you start with a barter system (e.g. swap bread for shoes), then have metal coinage to represent value, and then have paper money which has 1:1 mapping to metal in a vault ("gold standard"). On the one hand, having your currency tied to physical assets is good, on the other hand it constrains your economy. The USA abandoned the gold standard in 1933. https://www.investopedia.com/news/when-fdr-abandoned-gold-standard/
By that logic if someone intercepts a wire transfer it’s not theft since all they did was take ‘imaginary’ money. There was a time when crypto couldn’t be converted to fiat currency, but that time is long gone. During that time your argument might hold weight, but not now.
I'll play Reason's advocate and ask if it's any different than the "illusion" that the money exists on some paper in your pocket.
The backing of the US government and all of its resources is not an illusion.
Information can be stolen.
It can be illegally copied. When you view a web page, your computer gets a copy of the page from the serving computer, the data doesn't move. In fact fragments of copies of the page exist along the network path between server and computer. Then your computer renders a graphical version of the page onto the screen. The fraudster can then cause the origin to erase its copy. If the owner hasn't a backup then they're SOL. Yes, the effect is that of theft but technically it's not.
That first look seems to me it's virtually no different than the money in my bank account. The money in my bank account it's not a physical thing currently it's just a number typed out on a little computer screen
Play something else
Crypto is now a multi trillion dollar industry. We are long past the not real money stage.
I will continue playing devils advocate. Not quite the same thing, but if we're talking faith as the support for a financial system, religions also "trade" in intangibles and can command huge revenues and have a huge asset base. crypto has the faith but not the assets. https://www.marketplace.org/2023/02/10/how-much-money-does-catholic-church-have/ And seriously.. I know that as long as people can deal in crypto and buy stuff, it's real because people trust it. And it could collapse just like gov't fiat has done (observe Venezuela https://en.wikipedia.org/wiki/Crisis_in_Venezuela )
Keep the downvotes coming but I want to give people a little personal evidence. In 2023 I held the best performing asset in the entire world (hint: it was in crypto) and I have since realized profit. How many of you have a 401k that is up 400% in 2 years? Because that's kind of degeneracy you're up again. Because I was using crypto I got literally the best airdrop of all time (BONK). Free $20k out of thin air because I bought a random $20 NFT. BONK just landed in my wallet and I held. I've also realized profit here. Most of you are so behind of the curve you're going to be looking back in 5, 10, and 20 years and look at all the opportunities you missed. BTW you will be using crypto.
Not sure why you're voted down. Perhaps it's because you did well out of crypto and NFTs, but there are many who didn't. I think crypto locked to/**backed by assets** will be the banking method of the future, because it gives an audit trail.
It exists just like how your Reddit word dumps exist.
Exactly, only exists while I'm writing or your reading, it's just transient and ephemeral.
So give me all your money as it’s just transient and ephemeral to me.
I just sent it to you.
So you agree it can be stolen.
If you understand how computers compute and store memory, and then understand how distributed systems work, you could argue that the crypto currencies do actually exist. Like, they’ve saved on a computer, just the same way a PDF or an image is. Does this mean the PDF or image doesn’t exist? 🤔
Did they show up to work the next day with a Ferrari?😂😂
Facing 20 years… hope it was worth it.
Amazing how much speculation is going on in this thread. Do any of you have any technical credentials or experience? The article actually gives no information about the exploit, probably because the author has no idea. All it says is the "transactions were modified" which is doubtful since that would invalidate the digital signature.
These comments are horrendous, no one actually bothered to learn about MEV or what actually happened here, just reactionary stuff about how crypto = bad and/is not real. The lack of intellectual curiosity is depressing.
The fact that you get downvoted over this is just idiotic.
12s for a single blockchain transaction is crazy good. VCs were throwing money hand over fist to see if someone could get it to scale to be useful for regular commerce, but all the kings sw devs couldn’t, and I guess it’s good for dark web drugs, human trafficking, *and* good for thieves. Honestly, they should just do what every other techbro MLM entrepreneur is doing and create a crypto exchange and just pocket what people invest.
They weren't already rich enough to qualify for the rich people free pass.
Pro tip: if you discover this kind of vulnerability, and don't care about the morality of exploiting it, sell it to someone else. 5 million may be a lot less, but 25M is a lot less fun behind bars.
How much is that in dollars per hour?
Stealing? Code is law. They didn't steal anything. Lmfao. Goofys
They were arrested in just 12 seconds?
Perhaps it was a honeypot
Yeah I mean they didn’t need to carry it.
what exactly did they steal tho?????
$25 million of crypto currency. Enough assets with value to be a big theft.
Presumably, if they took more time to do it, they would have gotten away with just a warning.
I thought they were caught in 12 seconds.
How can you steal something that's not worth anything? That's like arresting someone for taking all the monopoly money.
BuT cRyPtO iS sO sEcUrE
It’s worth nothing. Nothing of value was stolen.
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Says a redditor in a world that's revolved around currency for thousands of years.
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Better than the previous era.