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Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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\n

This event adds to a series of social media hacks that have resulted in the theft of substantial token amounts. Although the exact number of affected users remains unknown. As a result of these losses, there has been an ongoing debate about how developers themselves should compensate victims. <\/p>\n\n\n\n

Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

Binance CEO's Opinion<\/h2>\n\n\n\n

This event adds to a series of social media hacks that have resulted in the theft of substantial token amounts. Although the exact number of affected users remains unknown. As a result of these losses, there has been an ongoing debate about how developers themselves should compensate victims. <\/p>\n\n\n\n

Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/zachxbt\/status\/1700692984977621164?s=20\n<\/div><\/figure>\n\n\n\n

Binance CEO's Opinion<\/h2>\n\n\n\n

This event adds to a series of social media hacks that have resulted in the theft of substantial token amounts. Although the exact number of affected users remains unknown. As a result of these losses, there has been an ongoing debate about how developers themselves should compensate victims. <\/p>\n\n\n\n

Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

In the day following the initial report of the hack, Buterin has remained silent on the incident. @ZachZPT revealed that the hacker had even sent a pilfered NFT to Buterin.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/zachxbt\/status\/1700692984977621164?s=20\n<\/div><\/figure>\n\n\n\n

Binance CEO's Opinion<\/h2>\n\n\n\n

This event adds to a series of social media hacks that have resulted in the theft of substantial token amounts. Although the exact number of affected users remains unknown. As a result of these losses, there has been an ongoing debate about how developers themselves should compensate victims. <\/p>\n\n\n\n

Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

On Crypto Twitter, users promptly raised the alarm about the fraudulent link. But the first public acknowledgment <\/a>of Buterin's hacking came from his father, Dmitriy \"Dima\" Buterin, who later deleted the post. Unfortunately, several victims had already reported losing access to their wallet funds by then. The hacker seized over $147,000 within an hour, which subsequently escalated to $691,000, according to blockchain investigator @ZachXBT<\/a>.<\/p>\n\n\n\n

In the day following the initial report of the hack, Buterin has remained silent on the incident. @ZachZPT revealed that the hacker had even sent a pilfered NFT to Buterin.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/zachxbt\/status\/1700692984977621164?s=20\n<\/div><\/figure>\n\n\n\n

Binance CEO's Opinion<\/h2>\n\n\n\n

This event adds to a series of social media hacks that have resulted in the theft of substantial token amounts. Although the exact number of affected users remains unknown. As a result of these losses, there has been an ongoing debate about how developers themselves should compensate victims. <\/p>\n\n\n\n

Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

The incident was initially detected <\/a>on a Saturday when a post appeared on Buterin's timeline. The post is announcing the launch of commemorative non-fungible tokens (NFTs) by software provider Consensys. The deceptive link is potentially exposed to Buterin's 4.9 million followers. Which deceived victims into connecting their wallets to mint NFTs, an opportunity for the hacker to absorb their assets.<\/p>\n\n\n\n

On Crypto Twitter, users promptly raised the alarm about the fraudulent link. But the first public acknowledgment <\/a>of Buterin's hacking came from his father, Dmitriy \"Dima\" Buterin, who later deleted the post. Unfortunately, several victims had already reported losing access to their wallet funds by then. The hacker seized over $147,000 within an hour, which subsequently escalated to $691,000, according to blockchain investigator @ZachXBT<\/a>.<\/p>\n\n\n\n

In the day following the initial report of the hack, Buterin has remained silent on the incident. @ZachZPT revealed that the hacker had even sent a pilfered NFT to Buterin.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/zachxbt\/status\/1700692984977621164?s=20\n<\/div><\/figure>\n\n\n\n

Binance CEO's Opinion<\/h2>\n\n\n\n

This event adds to a series of social media hacks that have resulted in the theft of substantial token amounts. Although the exact number of affected users remains unknown. As a result of these losses, there has been an ongoing debate about how developers themselves should compensate victims. <\/p>\n\n\n\n

Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Twitter has seen Ethereum creator Vitalik Buterin fall prey to a hacker. The act resulted in the theft of $691,000 from individuals who followed a corrupted link shared on his profile. <\/p>\n\n\n\n

The incident was initially detected <\/a>on a Saturday when a post appeared on Buterin's timeline. The post is announcing the launch of commemorative non-fungible tokens (NFTs) by software provider Consensys. The deceptive link is potentially exposed to Buterin's 4.9 million followers. Which deceived victims into connecting their wallets to mint NFTs, an opportunity for the hacker to absorb their assets.<\/p>\n\n\n\n

On Crypto Twitter, users promptly raised the alarm about the fraudulent link. But the first public acknowledgment <\/a>of Buterin's hacking came from his father, Dmitriy \"Dima\" Buterin, who later deleted the post. Unfortunately, several victims had already reported losing access to their wallet funds by then. The hacker seized over $147,000 within an hour, which subsequently escalated to $691,000, according to blockchain investigator @ZachXBT<\/a>.<\/p>\n\n\n\n

In the day following the initial report of the hack, Buterin has remained silent on the incident. @ZachZPT revealed that the hacker had even sent a pilfered NFT to Buterin.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/zachxbt\/status\/1700692984977621164?s=20\n<\/div><\/figure>\n\n\n\n

Binance CEO's Opinion<\/h2>\n\n\n\n

This event adds to a series of social media hacks that have resulted in the theft of substantial token amounts. Although the exact number of affected users remains unknown. As a result of these losses, there has been an ongoing debate about how developers themselves should compensate victims. <\/p>\n\n\n\n

Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

Wang's testimony shed light on Alameda's \"special privileges\" at FTX, allowing the cryptocurrency hedge fund to spend $8 billion of customer funds without their knowledge or consent. Ellison, who, like Wang, pleaded guilty to multiple fraud charges, is expected to provide further insights into the complex web of financial dealings that have taken center stage in this high-profile trial.<\/p>\n","post_title":"FTX Co-Founder Reveals Misuse Of Customer Funds By Sam Bankman-Fried","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-co-founder-reveals-misuse-of-customer-funds-by-sam-bankman-fried","to_ping":"","pinged":"","post_modified":"2023-10-08 01:01:07","post_modified_gmt":"2023-10-07 14:01:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13752","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13369,"post_author":"15","post_date":"2023-09-13 13:07:44","post_date_gmt":"2023-09-13 03:07:44","post_content":"\n

Twitter has seen Ethereum creator Vitalik Buterin fall prey to a hacker. The act resulted in the theft of $691,000 from individuals who followed a corrupted link shared on his profile. <\/p>\n\n\n\n

The incident was initially detected <\/a>on a Saturday when a post appeared on Buterin's timeline. The post is announcing the launch of commemorative non-fungible tokens (NFTs) by software provider Consensys. The deceptive link is potentially exposed to Buterin's 4.9 million followers. Which deceived victims into connecting their wallets to mint NFTs, an opportunity for the hacker to absorb their assets.<\/p>\n\n\n\n

On Crypto Twitter, users promptly raised the alarm about the fraudulent link. But the first public acknowledgment <\/a>of Buterin's hacking came from his father, Dmitriy \"Dima\" Buterin, who later deleted the post. Unfortunately, several victims had already reported losing access to their wallet funds by then. The hacker seized over $147,000 within an hour, which subsequently escalated to $691,000, according to blockchain investigator @ZachXBT<\/a>.<\/p>\n\n\n\n

In the day following the initial report of the hack, Buterin has remained silent on the incident. @ZachZPT revealed that the hacker had even sent a pilfered NFT to Buterin.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/zachxbt\/status\/1700692984977621164?s=20\n<\/div><\/figure>\n\n\n\n

Binance CEO's Opinion<\/h2>\n\n\n\n

This event adds to a series of social media hacks that have resulted in the theft of substantial token amounts. Although the exact number of affected users remains unknown. As a result of these losses, there has been an ongoing debate about how developers themselves should compensate victims. <\/p>\n\n\n\n

Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Wang's testimony marks a turning point in the trial, as he is a former insider who pled guilty to fraud following FTX's downfall and has agreed to cooperate with prosecutors. Meanwhile, Caroline Ellison<\/a>, the former CEO of Alameda Research and a key figure in the crypto mogul's life, is expected to present her testimony against SBF next week.<\/p>\n\n\n\n

Wang's testimony shed light on Alameda's \"special privileges\" at FTX, allowing the cryptocurrency hedge fund to spend $8 billion of customer funds without their knowledge or consent. Ellison, who, like Wang, pleaded guilty to multiple fraud charges, is expected to provide further insights into the complex web of financial dealings that have taken center stage in this high-profile trial.<\/p>\n","post_title":"FTX Co-Founder Reveals Misuse Of Customer Funds By Sam Bankman-Fried","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-co-founder-reveals-misuse-of-customer-funds-by-sam-bankman-fried","to_ping":"","pinged":"","post_modified":"2023-10-08 01:01:07","post_modified_gmt":"2023-10-07 14:01:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13752","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13369,"post_author":"15","post_date":"2023-09-13 13:07:44","post_date_gmt":"2023-09-13 03:07:44","post_content":"\n

Twitter has seen Ethereum creator Vitalik Buterin fall prey to a hacker. The act resulted in the theft of $691,000 from individuals who followed a corrupted link shared on his profile. <\/p>\n\n\n\n

The incident was initially detected <\/a>on a Saturday when a post appeared on Buterin's timeline. The post is announcing the launch of commemorative non-fungible tokens (NFTs) by software provider Consensys. The deceptive link is potentially exposed to Buterin's 4.9 million followers. Which deceived victims into connecting their wallets to mint NFTs, an opportunity for the hacker to absorb their assets.<\/p>\n\n\n\n

On Crypto Twitter, users promptly raised the alarm about the fraudulent link. But the first public acknowledgment <\/a>of Buterin's hacking came from his father, Dmitriy \"Dima\" Buterin, who later deleted the post. Unfortunately, several victims had already reported losing access to their wallet funds by then. The hacker seized over $147,000 within an hour, which subsequently escalated to $691,000, according to blockchain investigator @ZachXBT<\/a>.<\/p>\n\n\n\n

In the day following the initial report of the hack, Buterin has remained silent on the incident. @ZachZPT revealed that the hacker had even sent a pilfered NFT to Buterin.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/zachxbt\/status\/1700692984977621164?s=20\n<\/div><\/figure>\n\n\n\n

Binance CEO's Opinion<\/h2>\n\n\n\n

This event adds to a series of social media hacks that have resulted in the theft of substantial token amounts. Although the exact number of affected users remains unknown. As a result of these losses, there has been an ongoing debate about how developers themselves should compensate victims. <\/p>\n\n\n\n

Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Moreover, Wang disclosed that this unique borrowing facility, available exclusively to Alameda's accounts, remained active until FTX's collapse in 2022. During this period, the trading firm's line of credit was increased several times, eventually reaching a staggering $65 billion.<\/p>\n\n\n\n

Wang's testimony marks a turning point in the trial, as he is a former insider who pled guilty to fraud following FTX's downfall and has agreed to cooperate with prosecutors. Meanwhile, Caroline Ellison<\/a>, the former CEO of Alameda Research and a key figure in the crypto mogul's life, is expected to present her testimony against SBF next week.<\/p>\n\n\n\n

Wang's testimony shed light on Alameda's \"special privileges\" at FTX, allowing the cryptocurrency hedge fund to spend $8 billion of customer funds without their knowledge or consent. Ellison, who, like Wang, pleaded guilty to multiple fraud charges, is expected to provide further insights into the complex web of financial dealings that have taken center stage in this high-profile trial.<\/p>\n","post_title":"FTX Co-Founder Reveals Misuse Of Customer Funds By Sam Bankman-Fried","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-co-founder-reveals-misuse-of-customer-funds-by-sam-bankman-fried","to_ping":"","pinged":"","post_modified":"2023-10-08 01:01:07","post_modified_gmt":"2023-10-07 14:01:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13752","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13369,"post_author":"15","post_date":"2023-09-13 13:07:44","post_date_gmt":"2023-09-13 03:07:44","post_content":"\n

Twitter has seen Ethereum creator Vitalik Buterin fall prey to a hacker. The act resulted in the theft of $691,000 from individuals who followed a corrupted link shared on his profile. <\/p>\n\n\n\n

The incident was initially detected <\/a>on a Saturday when a post appeared on Buterin's timeline. The post is announcing the launch of commemorative non-fungible tokens (NFTs) by software provider Consensys. The deceptive link is potentially exposed to Buterin's 4.9 million followers. Which deceived victims into connecting their wallets to mint NFTs, an opportunity for the hacker to absorb their assets.<\/p>\n\n\n\n

On Crypto Twitter, users promptly raised the alarm about the fraudulent link. But the first public acknowledgment <\/a>of Buterin's hacking came from his father, Dmitriy \"Dima\" Buterin, who later deleted the post. Unfortunately, several victims had already reported losing access to their wallet funds by then. The hacker seized over $147,000 within an hour, which subsequently escalated to $691,000, according to blockchain investigator @ZachXBT<\/a>.<\/p>\n\n\n\n

In the day following the initial report of the hack, Buterin has remained silent on the incident. @ZachZPT revealed that the hacker had even sent a pilfered NFT to Buterin.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/zachxbt\/status\/1700692984977621164?s=20\n<\/div><\/figure>\n\n\n\n

Binance CEO's Opinion<\/h2>\n\n\n\n

This event adds to a series of social media hacks that have resulted in the theft of substantial token amounts. Although the exact number of affected users remains unknown. As a result of these losses, there has been an ongoing debate about how developers themselves should compensate victims. <\/p>\n\n\n\n

Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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\n

Alameda Research's Unique Financial Privileges<\/h2>\n\n\n\n

Moreover, Wang disclosed that this unique borrowing facility, available exclusively to Alameda's accounts, remained active until FTX's collapse in 2022. During this period, the trading firm's line of credit was increased several times, eventually reaching a staggering $65 billion.<\/p>\n\n\n\n

Wang's testimony marks a turning point in the trial, as he is a former insider who pled guilty to fraud following FTX's downfall and has agreed to cooperate with prosecutors. Meanwhile, Caroline Ellison<\/a>, the former CEO of Alameda Research and a key figure in the crypto mogul's life, is expected to present her testimony against SBF next week.<\/p>\n\n\n\n

Wang's testimony shed light on Alameda's \"special privileges\" at FTX, allowing the cryptocurrency hedge fund to spend $8 billion of customer funds without their knowledge or consent. Ellison, who, like Wang, pleaded guilty to multiple fraud charges, is expected to provide further insights into the complex web of financial dealings that have taken center stage in this high-profile trial.<\/p>\n","post_title":"FTX Co-Founder Reveals Misuse Of Customer Funds By Sam Bankman-Fried","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-co-founder-reveals-misuse-of-customer-funds-by-sam-bankman-fried","to_ping":"","pinged":"","post_modified":"2023-10-08 01:01:07","post_modified_gmt":"2023-10-07 14:01:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13752","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13369,"post_author":"15","post_date":"2023-09-13 13:07:44","post_date_gmt":"2023-09-13 03:07:44","post_content":"\n

Twitter has seen Ethereum creator Vitalik Buterin fall prey to a hacker. The act resulted in the theft of $691,000 from individuals who followed a corrupted link shared on his profile. <\/p>\n\n\n\n

The incident was initially detected <\/a>on a Saturday when a post appeared on Buterin's timeline. The post is announcing the launch of commemorative non-fungible tokens (NFTs) by software provider Consensys. The deceptive link is potentially exposed to Buterin's 4.9 million followers. Which deceived victims into connecting their wallets to mint NFTs, an opportunity for the hacker to absorb their assets.<\/p>\n\n\n\n

On Crypto Twitter, users promptly raised the alarm about the fraudulent link. But the first public acknowledgment <\/a>of Buterin's hacking came from his father, Dmitriy \"Dima\" Buterin, who later deleted the post. Unfortunately, several victims had already reported losing access to their wallet funds by then. The hacker seized over $147,000 within an hour, which subsequently escalated to $691,000, according to blockchain investigator @ZachXBT<\/a>.<\/p>\n\n\n\n

In the day following the initial report of the hack, Buterin has remained silent on the incident. @ZachZPT revealed that the hacker had even sent a pilfered NFT to Buterin.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/zachxbt\/status\/1700692984977621164?s=20\n<\/div><\/figure>\n\n\n\n

Binance CEO's Opinion<\/h2>\n\n\n\n

This event adds to a series of social media hacks that have resulted in the theft of substantial token amounts. Although the exact number of affected users remains unknown. As a result of these losses, there has been an ongoing debate about how developers themselves should compensate victims. <\/p>\n\n\n\n

Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Wang emphasized, \"The money belonged to customers, and the customers did not give us permission to use it for other things.\" <\/em>This secret operation allowed Alameda Research<\/a> to withdraw seemingly unlimited sums from FTX, putting customer funds at risk, the jury was told.<\/p>\n\n\n\n

Alameda Research's Unique Financial Privileges<\/h2>\n\n\n\n

Moreover, Wang disclosed that this unique borrowing facility, available exclusively to Alameda's accounts, remained active until FTX's collapse in 2022. During this period, the trading firm's line of credit was increased several times, eventually reaching a staggering $65 billion.<\/p>\n\n\n\n

Wang's testimony marks a turning point in the trial, as he is a former insider who pled guilty to fraud following FTX's downfall and has agreed to cooperate with prosecutors. Meanwhile, Caroline Ellison<\/a>, the former CEO of Alameda Research and a key figure in the crypto mogul's life, is expected to present her testimony against SBF next week.<\/p>\n\n\n\n

Wang's testimony shed light on Alameda's \"special privileges\" at FTX, allowing the cryptocurrency hedge fund to spend $8 billion of customer funds without their knowledge or consent. Ellison, who, like Wang, pleaded guilty to multiple fraud charges, is expected to provide further insights into the complex web of financial dealings that have taken center stage in this high-profile trial.<\/p>\n","post_title":"FTX Co-Founder Reveals Misuse Of Customer Funds By Sam Bankman-Fried","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-co-founder-reveals-misuse-of-customer-funds-by-sam-bankman-fried","to_ping":"","pinged":"","post_modified":"2023-10-08 01:01:07","post_modified_gmt":"2023-10-07 14:01:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13752","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13369,"post_author":"15","post_date":"2023-09-13 13:07:44","post_date_gmt":"2023-09-13 03:07:44","post_content":"\n

Twitter has seen Ethereum creator Vitalik Buterin fall prey to a hacker. The act resulted in the theft of $691,000 from individuals who followed a corrupted link shared on his profile. <\/p>\n\n\n\n

The incident was initially detected <\/a>on a Saturday when a post appeared on Buterin's timeline. The post is announcing the launch of commemorative non-fungible tokens (NFTs) by software provider Consensys. The deceptive link is potentially exposed to Buterin's 4.9 million followers. Which deceived victims into connecting their wallets to mint NFTs, an opportunity for the hacker to absorb their assets.<\/p>\n\n\n\n

On Crypto Twitter, users promptly raised the alarm about the fraudulent link. But the first public acknowledgment <\/a>of Buterin's hacking came from his father, Dmitriy \"Dima\" Buterin, who later deleted the post. Unfortunately, several victims had already reported losing access to their wallet funds by then. The hacker seized over $147,000 within an hour, which subsequently escalated to $691,000, according to blockchain investigator @ZachXBT<\/a>.<\/p>\n\n\n\n

In the day following the initial report of the hack, Buterin has remained silent on the incident. @ZachZPT revealed that the hacker had even sent a pilfered NFT to Buterin.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/zachxbt\/status\/1700692984977621164?s=20\n<\/div><\/figure>\n\n\n\n

Binance CEO's Opinion<\/h2>\n\n\n\n

This event adds to a series of social media hacks that have resulted in the theft of substantial token amounts. Although the exact number of affected users remains unknown. As a result of these losses, there has been an ongoing debate about how developers themselves should compensate victims. <\/p>\n\n\n\n

Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Wang, who once shared a college dorm with SBF<\/a> and later became an integral part of his professional life, disclosed that as early as 2019, he had been instructed to allow Alameda Research to maintain a negative balance on FTX. With an undisclosed \"large line of credit\", this arrangement permitted Alameda to use customer deposits for its operations without approval. <\/p>\n\n\n\n

Wang emphasized, \"The money belonged to customers, and the customers did not give us permission to use it for other things.\" <\/em>This secret operation allowed Alameda Research<\/a> to withdraw seemingly unlimited sums from FTX, putting customer funds at risk, the jury was told.<\/p>\n\n\n\n

Alameda Research's Unique Financial Privileges<\/h2>\n\n\n\n

Moreover, Wang disclosed that this unique borrowing facility, available exclusively to Alameda's accounts, remained active until FTX's collapse in 2022. During this period, the trading firm's line of credit was increased several times, eventually reaching a staggering $65 billion.<\/p>\n\n\n\n

Wang's testimony marks a turning point in the trial, as he is a former insider who pled guilty to fraud following FTX's downfall and has agreed to cooperate with prosecutors. Meanwhile, Caroline Ellison<\/a>, the former CEO of Alameda Research and a key figure in the crypto mogul's life, is expected to present her testimony against SBF next week.<\/p>\n\n\n\n

Wang's testimony shed light on Alameda's \"special privileges\" at FTX, allowing the cryptocurrency hedge fund to spend $8 billion of customer funds without their knowledge or consent. Ellison, who, like Wang, pleaded guilty to multiple fraud charges, is expected to provide further insights into the complex web of financial dealings that have taken center stage in this high-profile trial.<\/p>\n","post_title":"FTX Co-Founder Reveals Misuse Of Customer Funds By Sam Bankman-Fried","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-co-founder-reveals-misuse-of-customer-funds-by-sam-bankman-fried","to_ping":"","pinged":"","post_modified":"2023-10-08 01:01:07","post_modified_gmt":"2023-10-07 14:01:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13752","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13369,"post_author":"15","post_date":"2023-09-13 13:07:44","post_date_gmt":"2023-09-13 03:07:44","post_content":"\n

Twitter has seen Ethereum creator Vitalik Buterin fall prey to a hacker. The act resulted in the theft of $691,000 from individuals who followed a corrupted link shared on his profile. <\/p>\n\n\n\n

The incident was initially detected <\/a>on a Saturday when a post appeared on Buterin's timeline. The post is announcing the launch of commemorative non-fungible tokens (NFTs) by software provider Consensys. The deceptive link is potentially exposed to Buterin's 4.9 million followers. Which deceived victims into connecting their wallets to mint NFTs, an opportunity for the hacker to absorb their assets.<\/p>\n\n\n\n

On Crypto Twitter, users promptly raised the alarm about the fraudulent link. But the first public acknowledgment <\/a>of Buterin's hacking came from his father, Dmitriy \"Dima\" Buterin, who later deleted the post. Unfortunately, several victims had already reported losing access to their wallet funds by then. The hacker seized over $147,000 within an hour, which subsequently escalated to $691,000, according to blockchain investigator @ZachXBT<\/a>.<\/p>\n\n\n\n

In the day following the initial report of the hack, Buterin has remained silent on the incident. @ZachZPT revealed that the hacker had even sent a pilfered NFT to Buterin.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/zachxbt\/status\/1700692984977621164?s=20\n<\/div><\/figure>\n\n\n\n

Binance CEO's Opinion<\/h2>\n\n\n\n

This event adds to a series of social media hacks that have resulted in the theft of substantial token amounts. Although the exact number of affected users remains unknown. As a result of these losses, there has been an ongoing debate about how developers themselves should compensate victims. <\/p>\n\n\n\n

Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

In the ongoing fraud trial of Sam Bankman-Fried (SBF), the Co-Founder of FTX, Gary Wang, revealed that Alameda Research started using FTX customer funds shortly after the exchange was launched. This revelation, made in a Manhattan federal court, suggests that the trading firm was effectively \"taking customers' money\"<\/em> without their consent, according to a report by the Financial Times.<\/p>\n\n\n\n

Wang, who once shared a college dorm with SBF<\/a> and later became an integral part of his professional life, disclosed that as early as 2019, he had been instructed to allow Alameda Research to maintain a negative balance on FTX. With an undisclosed \"large line of credit\", this arrangement permitted Alameda to use customer deposits for its operations without approval. <\/p>\n\n\n\n

Wang emphasized, \"The money belonged to customers, and the customers did not give us permission to use it for other things.\" <\/em>This secret operation allowed Alameda Research<\/a> to withdraw seemingly unlimited sums from FTX, putting customer funds at risk, the jury was told.<\/p>\n\n\n\n

Alameda Research's Unique Financial Privileges<\/h2>\n\n\n\n

Moreover, Wang disclosed that this unique borrowing facility, available exclusively to Alameda's accounts, remained active until FTX's collapse in 2022. During this period, the trading firm's line of credit was increased several times, eventually reaching a staggering $65 billion.<\/p>\n\n\n\n

Wang's testimony marks a turning point in the trial, as he is a former insider who pled guilty to fraud following FTX's downfall and has agreed to cooperate with prosecutors. Meanwhile, Caroline Ellison<\/a>, the former CEO of Alameda Research and a key figure in the crypto mogul's life, is expected to present her testimony against SBF next week.<\/p>\n\n\n\n

Wang's testimony shed light on Alameda's \"special privileges\" at FTX, allowing the cryptocurrency hedge fund to spend $8 billion of customer funds without their knowledge or consent. Ellison, who, like Wang, pleaded guilty to multiple fraud charges, is expected to provide further insights into the complex web of financial dealings that have taken center stage in this high-profile trial.<\/p>\n","post_title":"FTX Co-Founder Reveals Misuse Of Customer Funds By Sam Bankman-Fried","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-co-founder-reveals-misuse-of-customer-funds-by-sam-bankman-fried","to_ping":"","pinged":"","post_modified":"2023-10-08 01:01:07","post_modified_gmt":"2023-10-07 14:01:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13752","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13369,"post_author":"15","post_date":"2023-09-13 13:07:44","post_date_gmt":"2023-09-13 03:07:44","post_content":"\n

Twitter has seen Ethereum creator Vitalik Buterin fall prey to a hacker. The act resulted in the theft of $691,000 from individuals who followed a corrupted link shared on his profile. <\/p>\n\n\n\n

The incident was initially detected <\/a>on a Saturday when a post appeared on Buterin's timeline. The post is announcing the launch of commemorative non-fungible tokens (NFTs) by software provider Consensys. The deceptive link is potentially exposed to Buterin's 4.9 million followers. Which deceived victims into connecting their wallets to mint NFTs, an opportunity for the hacker to absorb their assets.<\/p>\n\n\n\n

On Crypto Twitter, users promptly raised the alarm about the fraudulent link. But the first public acknowledgment <\/a>of Buterin's hacking came from his father, Dmitriy \"Dima\" Buterin, who later deleted the post. Unfortunately, several victims had already reported losing access to their wallet funds by then. The hacker seized over $147,000 within an hour, which subsequently escalated to $691,000, according to blockchain investigator @ZachXBT<\/a>.<\/p>\n\n\n\n

In the day following the initial report of the hack, Buterin has remained silent on the incident. @ZachZPT revealed that the hacker had even sent a pilfered NFT to Buterin.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/zachxbt\/status\/1700692984977621164?s=20\n<\/div><\/figure>\n\n\n\n

Binance CEO's Opinion<\/h2>\n\n\n\n

This event adds to a series of social media hacks that have resulted in the theft of substantial token amounts. Although the exact number of affected users remains unknown. As a result of these losses, there has been an ongoing debate about how developers themselves should compensate victims. <\/p>\n\n\n\n

Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 3 4

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
  • A secret line of credit allowed the trading firm to withdraw large sums from the crypto exchange.<\/li>\n<\/ul>\n\n\n\n

    In the ongoing fraud trial of Sam Bankman-Fried (SBF), the Co-Founder of FTX, Gary Wang, revealed that Alameda Research started using FTX customer funds shortly after the exchange was launched. This revelation, made in a Manhattan federal court, suggests that the trading firm was effectively \"taking customers' money\"<\/em> without their consent, according to a report by the Financial Times.<\/p>\n\n\n\n

    Wang, who once shared a college dorm with SBF<\/a> and later became an integral part of his professional life, disclosed that as early as 2019, he had been instructed to allow Alameda Research to maintain a negative balance on FTX. With an undisclosed \"large line of credit\", this arrangement permitted Alameda to use customer deposits for its operations without approval. <\/p>\n\n\n\n

    Wang emphasized, \"The money belonged to customers, and the customers did not give us permission to use it for other things.\" <\/em>This secret operation allowed Alameda Research<\/a> to withdraw seemingly unlimited sums from FTX, putting customer funds at risk, the jury was told.<\/p>\n\n\n\n

    Alameda Research's Unique Financial Privileges<\/h2>\n\n\n\n

    Moreover, Wang disclosed that this unique borrowing facility, available exclusively to Alameda's accounts, remained active until FTX's collapse in 2022. During this period, the trading firm's line of credit was increased several times, eventually reaching a staggering $65 billion.<\/p>\n\n\n\n

    Wang's testimony marks a turning point in the trial, as he is a former insider who pled guilty to fraud following FTX's downfall and has agreed to cooperate with prosecutors. Meanwhile, Caroline Ellison<\/a>, the former CEO of Alameda Research and a key figure in the crypto mogul's life, is expected to present her testimony against SBF next week.<\/p>\n\n\n\n

    Wang's testimony shed light on Alameda's \"special privileges\" at FTX, allowing the cryptocurrency hedge fund to spend $8 billion of customer funds without their knowledge or consent. Ellison, who, like Wang, pleaded guilty to multiple fraud charges, is expected to provide further insights into the complex web of financial dealings that have taken center stage in this high-profile trial.<\/p>\n","post_title":"FTX Co-Founder Reveals Misuse Of Customer Funds By Sam Bankman-Fried","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-co-founder-reveals-misuse-of-customer-funds-by-sam-bankman-fried","to_ping":"","pinged":"","post_modified":"2023-10-08 01:01:07","post_modified_gmt":"2023-10-07 14:01:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13752","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13369,"post_author":"15","post_date":"2023-09-13 13:07:44","post_date_gmt":"2023-09-13 03:07:44","post_content":"\n

    Twitter has seen Ethereum creator Vitalik Buterin fall prey to a hacker. The act resulted in the theft of $691,000 from individuals who followed a corrupted link shared on his profile. <\/p>\n\n\n\n

    The incident was initially detected <\/a>on a Saturday when a post appeared on Buterin's timeline. The post is announcing the launch of commemorative non-fungible tokens (NFTs) by software provider Consensys. The deceptive link is potentially exposed to Buterin's 4.9 million followers. Which deceived victims into connecting their wallets to mint NFTs, an opportunity for the hacker to absorb their assets.<\/p>\n\n\n\n

    On Crypto Twitter, users promptly raised the alarm about the fraudulent link. But the first public acknowledgment <\/a>of Buterin's hacking came from his father, Dmitriy \"Dima\" Buterin, who later deleted the post. Unfortunately, several victims had already reported losing access to their wallet funds by then. The hacker seized over $147,000 within an hour, which subsequently escalated to $691,000, according to blockchain investigator @ZachXBT<\/a>.<\/p>\n\n\n\n

    In the day following the initial report of the hack, Buterin has remained silent on the incident. @ZachZPT revealed that the hacker had even sent a pilfered NFT to Buterin.<\/p>\n\n\n\n

    \nhttps:\/\/twitter.com\/zachxbt\/status\/1700692984977621164?s=20\n<\/div><\/figure>\n\n\n\n

    Binance CEO's Opinion<\/h2>\n\n\n\n

    This event adds to a series of social media hacks that have resulted in the theft of substantial token amounts. Although the exact number of affected users remains unknown. As a result of these losses, there has been an ongoing debate about how developers themselves should compensate victims. <\/p>\n\n\n\n

    Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

    Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

    1 2 3 4

    Most Read

    Subscribe To Our Newsletter

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    \n
  • Alameda Research allegedly used FTX customer funds without permission.<\/li>\n\n\n\n
  • A secret line of credit allowed the trading firm to withdraw large sums from the crypto exchange.<\/li>\n<\/ul>\n\n\n\n

    In the ongoing fraud trial of Sam Bankman-Fried (SBF), the Co-Founder of FTX, Gary Wang, revealed that Alameda Research started using FTX customer funds shortly after the exchange was launched. This revelation, made in a Manhattan federal court, suggests that the trading firm was effectively \"taking customers' money\"<\/em> without their consent, according to a report by the Financial Times.<\/p>\n\n\n\n

    Wang, who once shared a college dorm with SBF<\/a> and later became an integral part of his professional life, disclosed that as early as 2019, he had been instructed to allow Alameda Research to maintain a negative balance on FTX. With an undisclosed \"large line of credit\", this arrangement permitted Alameda to use customer deposits for its operations without approval. <\/p>\n\n\n\n

    Wang emphasized, \"The money belonged to customers, and the customers did not give us permission to use it for other things.\" <\/em>This secret operation allowed Alameda Research<\/a> to withdraw seemingly unlimited sums from FTX, putting customer funds at risk, the jury was told.<\/p>\n\n\n\n

    Alameda Research's Unique Financial Privileges<\/h2>\n\n\n\n

    Moreover, Wang disclosed that this unique borrowing facility, available exclusively to Alameda's accounts, remained active until FTX's collapse in 2022. During this period, the trading firm's line of credit was increased several times, eventually reaching a staggering $65 billion.<\/p>\n\n\n\n

    Wang's testimony marks a turning point in the trial, as he is a former insider who pled guilty to fraud following FTX's downfall and has agreed to cooperate with prosecutors. Meanwhile, Caroline Ellison<\/a>, the former CEO of Alameda Research and a key figure in the crypto mogul's life, is expected to present her testimony against SBF next week.<\/p>\n\n\n\n

    Wang's testimony shed light on Alameda's \"special privileges\" at FTX, allowing the cryptocurrency hedge fund to spend $8 billion of customer funds without their knowledge or consent. Ellison, who, like Wang, pleaded guilty to multiple fraud charges, is expected to provide further insights into the complex web of financial dealings that have taken center stage in this high-profile trial.<\/p>\n","post_title":"FTX Co-Founder Reveals Misuse Of Customer Funds By Sam Bankman-Fried","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ftx-co-founder-reveals-misuse-of-customer-funds-by-sam-bankman-fried","to_ping":"","pinged":"","post_modified":"2023-10-08 01:01:07","post_modified_gmt":"2023-10-07 14:01:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13752","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":13369,"post_author":"15","post_date":"2023-09-13 13:07:44","post_date_gmt":"2023-09-13 03:07:44","post_content":"\n

    Twitter has seen Ethereum creator Vitalik Buterin fall prey to a hacker. The act resulted in the theft of $691,000 from individuals who followed a corrupted link shared on his profile. <\/p>\n\n\n\n

    The incident was initially detected <\/a>on a Saturday when a post appeared on Buterin's timeline. The post is announcing the launch of commemorative non-fungible tokens (NFTs) by software provider Consensys. The deceptive link is potentially exposed to Buterin's 4.9 million followers. Which deceived victims into connecting their wallets to mint NFTs, an opportunity for the hacker to absorb their assets.<\/p>\n\n\n\n

    On Crypto Twitter, users promptly raised the alarm about the fraudulent link. But the first public acknowledgment <\/a>of Buterin's hacking came from his father, Dmitriy \"Dima\" Buterin, who later deleted the post. Unfortunately, several victims had already reported losing access to their wallet funds by then. The hacker seized over $147,000 within an hour, which subsequently escalated to $691,000, according to blockchain investigator @ZachXBT<\/a>.<\/p>\n\n\n\n

    In the day following the initial report of the hack, Buterin has remained silent on the incident. @ZachZPT revealed that the hacker had even sent a pilfered NFT to Buterin.<\/p>\n\n\n\n

    \nhttps:\/\/twitter.com\/zachxbt\/status\/1700692984977621164?s=20\n<\/div><\/figure>\n\n\n\n

    Binance CEO's Opinion<\/h2>\n\n\n\n

    This event adds to a series of social media hacks that have resulted in the theft of substantial token amounts. Although the exact number of affected users remains unknown. As a result of these losses, there has been an ongoing debate about how developers themselves should compensate victims. <\/p>\n\n\n\n

    Questions about Twitter's security measures have also arisen, including concerns raised by Binance CEO Changpeng Zhao. The CEO noted that Twitter's account security falls short compared to traditional financial accounts. <\/p>\n\n\n\n

    Zhao called for enhanced features like two-factor authentication (2FA), distinct login IDs from handles or email addresses, and other measures to bolster security. Two-factor authentication, a recommended defense mechanism, is available on Twitter but is limited to users who subscribe to Twitter Blue. Brute forcing, a hacking tactic involving repeated password attempts, has been employed by hackers to breach accounts.<\/p>\n","post_title":"Vitalik Buterin Falls Victim To Hacker Resulting In $691K Loss For Followers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vitalik-buterin-falls-victim-to-hacker-resulting-in-691k-loss-for-followers","to_ping":"","pinged":"","post_modified":"2023-09-13 13:08:02","post_modified_gmt":"2023-09-13 03:08:02","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13369","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

    1 2 3 4

    Most Read

    Subscribe To Our Newsletter

    By subscribing, you agree with our privacy and terms.

    Follow The Distributed

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    \n