So Cryptopia has been hacked MILLIONS GONE

The reason why embezzlement and hacking crimes exist is because people are stupid and some think it is funny instead of taking it seriously ....
 
looks like only ethereum tokens taken, other wallets have not moved, bismuth for example holds 300btc worth remains untouched.
 
systematic said:
The reason why embezzlement and hacking crimes exist is because people are stupid and some think it is funny instead of taking it seriously ....
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Is that a dig at me and Dozer?

I certainly do not think financial crimes are funny, in fact i think those that commit them get far to lenient sentences.
I am simply amazed that it is a HERE WE GO AGAIN situation with cryto.
 
I would be interested to find out "how" they were hacked - there's so many attack vectors. Compromised user accounts, software bugs, infrastructure security holes, rogue employees...

Looks like only two coins were taken - ETH and one other alt coin which I cannot find the name of now.

Had a relative working in the building society sector in the 2000s - daily losses to fraud or security hacks were in the tens of thousands at the one building society he worked at. Several million every year in a small regional building society that was just considered a "cost of doing business". Never disclosed publicly.
 
systematic said:
The reason why embezzlement and hacking crimes exist is because people are stupid and some think it is funny instead of taking it seriously ....
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Embezzlement and hacking happen because there are always crooks looking for people who have unsecured or insufficiently secured electronic or digital assets within easy reach.
 
goldpelican said:
I would be interested to find out "how" they were hacked - there's so many attack vectors. Compromised user accounts, software bugs, infrastructure security holes, rogue employees...

Looks like only two coins were taken - ETH and one other alt coin which I cannot find the name of now.

Had a relative working in the building society sector in the 2000s - daily losses to fraud or security hacks were in the tens of thousands at the one building society he worked at. Several million every year in a small regional building society that was just considered a "cost of doing business". Never disclosed publicly.
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I'd bet some of those millions on an employee facilitated theft.
 
Gullintanni said:
Is that a dig at me and Dozer?

I certainly do not think financial crimes are funny, in fact i think those that commit them get far to lenient sentences.
I am simply amazed that it is a HERE WE GO AGAIN situation with cryto.
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If you are "amazed" then express it appropriately ... you could condemn it instead of laughing about it ... show some integrity and maybe some maturity ...
 
systematic said:
If you are "amazed" then express it appropriately ... you could condemn it instead of laughing about it ... show some integrity and maybe some maturity ...
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Sounds reasonable.
I have money tied up in there so at least i have some personal interest in this one, do you?

I also hear that binance has frozen the accounts where some of the crypto was transferred and i just about wet my pants when hearing that.
After all crypto was supposed to protect us from banks and governments having all their control over our money, right?
Crypto is a very very very large scheme to separate people from their money and anyone who thinks otherwise is WRONG.
Just like all other ponzi or pyramid schemes some people do make money like with crypto, but in the end most lose money.
Just because crpyto has 100 billion involved does not make it legit, IT JUST MAKES IT THE WORDS BIGGEST RIP OFF.
 
Gullintanni said:
Just because crpyto has 100 billion involved does not make it legit, IT JUST MAKES IT THE WORDS BIGGEST RIP OFF.
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100 billion is market cap based on the last transacted price. Theoretically, a single buyer buying just 1 bitcoin is enough to create this 100 billion market cap.

Gullintanni said:
Just like all other ponzi or pyramid schemes some people do make money like with crypto, but in the end most lose money.
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Don’t know much about cryptos but how do we know the bids on exchanges are real? How to know it is not shill bids? Insiders could bid up the price to attract “buyers” and customers. If they run out of funds, the exchange will be hacked.
 
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goldpelican said:
Had a relative working in the building society sector in the 2000s - daily losses to fraud or security hacks were in the tens of thousands at the one building society he worked at. Several million every year in a small regional building society that was just considered a "cost of doing business". Never disclosed publicly.
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When I was working in a bank they had a security hole that allowed thieves to get away with $$ thousands each month. It was cheaper to let them continue rather than fix the problem. It eventually stopped after about 6 months when machines were upgraded.
 
willrocks said:
When I was working in a bank they had a security hole that allowed thieves to get away with $$ thousands each month. It was cheaper to let them continue rather than fix the problem. It eventually stopped after about 6 months when machines were upgraded.
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That is because banks understand the nature of money and they know money is not valuable ... what is valuable is the power and control it has on others ...

The banks see the financial system like a hotel and if a few extra tissues go missing from the tissue box on the table it is no big deal to them ...

However to the public when financial theft and fraud is committed against them it is psychologically similar to how it is to a violent rape ... many papers have been published on this subject ... white collar crime is a disgusting immoral and criminal act and should be treated no differently to a criminal assault ...
 
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If the headline was "Women's shelter invaded millions of women and children raped" it would not be regarded as a laughing matter ... but in a psychological sense the people that had their money stolen from them are statistically going through the same torment of a violent sexual assault ... it is important to realise how truly dysfunctional the financial sector is and what kind of people it attracts ...
 
systematic said:
... white collar crime is a disgusting immoral and criminal act and should be treated no differently to a criminal assault ...
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How many politicians and public office holders have committed some form of white collar crime? They would legalise white collar crime if they could.
 
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