I don’t think they have a case here.
In the past some celebrities like Kardashian were sued because they advertised a product and didn’t state that they were being paid to promote it.
These tv commercials are completely different because obviously you know they were being paid to promote it. So I don’t think they will have much of a case. Sbf basically fooled many people and it’s not surprisingly that celebrities didn’t know about his true colors.
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Are these chip mixers actually completely untraceable? I read a report somewhere that if a large enough player goes thru a mixer then people will perform an analysis and be able to link the bitcoins completely after the mix. No idea if this is true or not.
Seems the only sure way is by using monero, however there is no bridge between monero and ETH or BTC right now. So only way is going thru an exchange which is very risky. Only way would be to use non KYC exchanges but it would take forever with a large amount such as this.
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Difficulty measures chain security, the higher the safer and better.
I'm not sure about this. If 10 million video cards participate in the mining of a coin, and 55% of the hashrate belongs to one miner. Is this safe for you? Difficulty shows only the arrival or departure of miners, and miners are interested in profit. Yes but any coin is subject to this risk. However as the hashrate is much much higher it’s more expensive to attack and less common to happen. It’s possible for someone to have 51% power but that is like what? 5 million GPUs? It would be very expensive to achieve this. So in general the higher the hashrate the better.
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Even though 10K was moved they only transferred I think like 20 BTC to hit BTC and the rest was change. The input was 10K and 20btc went to hit BTC and rest was the change, so the entire amount didn’t move.
Which makes you wonder why sell it now when you could have when Bitcoin was $50K. Makes it seem like someone got out of jail recently and moving his stolen funds around.
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Since they filed for chapter11 I don’t think it will be operational again. If he never filed and managed to somehow get the lost funds back, then maybe it would of worked out but it’s out of his hands now.
Issue is this is going to be an expensive bankruptcy and lawyers will end up benefiting the most in this situation and not the users.
There are people buying claims on accounts for like 5 cents on the dollar, because that is how bad it looks.
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I hope this users get his funds back. FTX rekt many users by creating fake contract. I saw they create Future position such a way that alamedas position will bever liquidate. So just thinking who paid for that money. Those must be users funds who never knows their own funds has been used against them. SBF should be in jail by now. FTX short position will never made a recovery.
Those contracts were basically leveraged contracts which were following the price on their perp futures platform. So basically they had a market. When you opened a leverage token it would basically buys or sell the contracts on the perps market for whatever coin you wanted. And during the day it would keep the leverage balanced. And when you went to sell it, it would do the opposite.
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It’s not only bridges, it’s anything related to smart contracts. All these codes are buggy and they are rushed to development and full of holes. Hence why you should never keep all your funds on them. Not worth the risk even if the yield is high.
Remember Mango ? Basically the hacker said it wasn’t a hack but “code is law” and the money was rightfully his. Saying that basically if there is a flaw in the code you can take advantage of it and it’s ok. The guy later got liquidated when he tried to liquidate the CRV founder earlier yesterday by shorting CRV.
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If you go to the Gemini Reddit there are many people who are in the same situation as Ognasty. Basically they had an old KYC account and then all of a sudden they get an email that it’s closed, and no reason why.
There are also many that are mad at Gemini for causing this mess and wants the twins to dive into their large Bitcoin stash and make it right for their loyal customers, wonder what they will do.
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The women is basically loved in bull markets and hated in bear markets. People praised her stock picks when everything was going up but when the markets turned a year ago they just kept making bad decision after another.
She went big into crypto. She bought GBTC, Silvergate bank and Coinbase. Now normally they wouldn’t sound like good investments but it’s at least near the bottom of the bear market and might reverse unlike her buying everything near the top like last year.
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I am pretty sure I paid around that much when I bought my rx580 brand new about 5 years ago. They were maybe worth it about 6 months ago but now with ETH mining out of the question they can be had for around $100 or so.
Also wrong section of the forum. Post this in the classifieds section if you want any takers.
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So it looks like they sent 15000 ETH each to 12 different addresses. Most likely they will dump those. However they can’t on ren anymore because they stopped the minting process. So they will need to find another cross chain way.
Whenever these coins move there is volatility in the markets. Creating a lot of fear. Like I said before. Most likely they are taking trades on these movements and that’s how they plan on profiting. Not cashing out which is risky.
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Impossible to predict because all of this is news driven.
If more exchanges fail, more market makers fail, more bankruptcy then obviously it’ll go lower. If there is no more bad news we obviously bottomed. If we get good news we can rally past $20K very quickly even.
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Well the contagion is still spreading. The silver gate bank keeps hitting new lows. This is the top bank for crypto pretty much. Doesn’t make sense why it’s tanking so much.
Then there is the Genesis and GBTC mess. Basically discount off GBTC went down a little into the close, but what does that mean. Genesis is still looking for a loan. They asked Binance and they said no.
If Genesis goes under then everyone from Gemini earn is screwed. And maybe other platforms.
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We don’t know if it’s accumulation yet, we have been here for only a week. Accumulation is when there is basically no movement and people just quit crypto out of boredom, similar to early 2019 and most of 2015.
It seems we actually might chop around in this area. If we did it would be good because it seems like a decent bottom. However there is way too much macro risks right now to know for sure. Going to be a busy month.
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FTX had KYC but it was minimal and never verified hence why it was so popular. All you needed was a working SMS in your country and that was it. Many used a burner phone. And for name and address many just made something up.
For other exchanges you need to submit actual id and proof of residency. You might even need to state the proof of funds. Hence why many chose FTX instead.
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Basically there is a white hat and a black hat wallet which flowed out of the FTX hot wallet when they claimed bankruptcy.
Last night they dumped like $50M ETH and traded for BTC. And last week they dumped many alts and traded for Dai, very suspicious.
The other wallet is some multisig wallet and it’s legit. They won’t be selling anything until the court starts.
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It’s definitely the hackers address. It’s strange why he would go on the Bitcoin chain however. My guess is to mix it somehow and perhaps trade it for monero however you can only do that with an exchange, I don’t believe there are many monero and Bitcoin cross chains.
There is also speculation that next Sunday he will do the same. Dump 200M in an illiquid day while at the same time he opens a big short on some exchange to profit off the panic.
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From what I understand. 1/3 of the assets were stolen the rest went to the government.
This is pretty accurate considering the government would dump low illiquid tokens with huge slippage and why would DAI be bought instead of just leaving the assets as is.
There is 200MM left to be dumped so be on alert because if it’s dumped during a weekend we will go below $1000 ETH for sure.
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FTX released a statement today which sounded the opposite of what the liquidator said a few days back. They are saying that many of the companies that FTX ownes are not debtors. Such as ledgerx. So they think they can get some of their companies sold or restructure and perhaps resume operations which I find hard to believe.
A few days back the liquidator said he worked on Enron’s case and FTX is much worse and now he is saying he can restructure efficiently. No idea who to believe anymore.
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I have no idea how this bankruptcy is working exactly.
Both USA and Bahamian government are saying they are in charge of the bankruptcy. We are getting reports from both agencies they are working on recovering funds. However how can both of them do this exactly?
Very confused.
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