More Exploits of FTX

Who Is the FTX Hacker? On-Chain Clues Shed Light on the Situation

Two "hacks", one that wasn't and one that was. A reign of confusion ends in further turmoil.

As the hack took place after the bankruptcy filing, it looks suspiciously like a known insider or, as mentioned in the article, a social hack that perhaps pretended to be from the Securities Commission of The Bahamas but led to a transfer to the hacker's account. In either case, a known finger pushed the button - perhaps the backdoor man himself. We can but speculate, but none of the investigations I've seen have found any code exploit.

I mean, if you employ a hacker, you want them to actually behave like a hacker, so wasting money on huge slippage is just the cost of... doing business.

It’s a lesser-known fact that stablecoins such as USDC and USDT have freeze and blacklist functions built into their contracts, allowing their respective issuers to halt transactions and confiscate funds manually.

Yes, this particular "feature" raised a few eyebrows among the twatterati.

This also sheds some light on the twin-track-hack that created so much early confusion.

This on-chain sleuth and his deep dive into misconceptions around FTX state that…

Zachxbt also revealed that FTX had used Kraken since the FTX hot wallet was out of TRON (TRX) which was needed for the gas fees.

erm... TRON fees are among the lowest in crypto - that's a pathetic excuse. Buy some TRX for the fees!

Oh, no idea why that article ends with a quote from VB...

“Many in the Ethereum community also see the situation as a validation of things they believed in all along: centralized anything is by default suspect.”

Yes, of course, Vitalik, POS Ethereum is so not centralised.