The hacker who saved Coinbase

Pekelo

Pekelo

A hacker discovered that on Coinbase he can trade 1 SHIB for 1 BTC. After making a few test trades and exchanging 50 SHIB for 50 BTC, he notified Coinbase and they quickly acted on the tip and fixed it, later rewarding the hacker with 250K for his help.

The moral of the story: Coinbase is inept beyond your wildest dreams.

https://thecryptobasic.com/2022/02/...owed-him-to-buy-50-bitcoins-for-50-shiba-inu/

"The consequences would have been so worst and beyond imagination, if any black hat hacker had found the bug, but thanks to Tree of Alpha, he not only saved Coinbase but all the traders that are trusting Coinbase security and trading billions of dollars on it."
 
Pekelo said:
A hacker discovered that on Coinbase he can trade 1 SHIB for 1 BTC. After making a few test trades and exchanging 50 SHIB for 50 BTC, he notified Coinbase and they quickly acted on the tip and fixed it, later rewarding the hacker with 250K for his help.

The moral of the story: Coinbase is inept beyond your wildest dreams.

https://thecryptobasic.com/2022/02/...owed-him-to-buy-50-bitcoins-for-50-shiba-inu/

"The consequences would have been so worst and beyond imagination, if any black hat hacker had found the bug, but thanks to Tree of Alpha, he not only saved Coinbase but all the traders that are trusting Coinbase security and trading billions of dollars on it."
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Yeah, crypto's are very safe, cannot be hacked, cheap transactions (taking cash on ATM will cost you only a +10% commission, and spread between buy and sell is $3,000). The perfect currency to use every day.

atm.jpg
 
"The consequences would have been so worst and beyond imagination, if any black hat hacker had found the bug,
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Most likely others found it too, just no mention of that.

COIN is forced like everyone else to do KYC. There isn't a way to get stolen/hacked money off an exchange and into fiat offramps without leaving paper-trails all over the place. Maybe if you get lucky with a tumbler but even that is starting to show as not reliable for thieves.

I believe RazelKhan's bf tried to tumble the stolen Bitfinex coins, but the FBI were able to piece together all the transactions anyhow.
 
The_Krakenite said:
COIN is forced like everyone else to do KYC.
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Ask the average crypto fan if they could get their hands on an illegal fortune, would they skip town? My bet is that 50% would. Not a judgement, just probably a fact. There are countries you can live a very comfortable life with your millions.

As a minimum, a hacker could have traded away the money:

1. Get free BTCs.
2. If it goes up, cash out the profits, put back the rest. Nothing happened.
3. If it goes down, not your loss.
 
virtusa said:
Yeah, crypto's are very safe, cannot be hacked, cheap transactions (taking cash on ATM will cost you only a +10% commission, and spread between buy and sell is $3,000). The perfect currency to use every day.

View attachment 278859
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Damnnnnnn.

On the other hand, those who use it, they made it via illegal activities (mostly), thus, 10% is irrelevant for em, since, it's about cashing out
 
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Pekelo said:
Ask the average crypto fan if they could get their hands on an illegal fortune, would they skip town? My bet is that 50% would. Not a judgement, just probably a fact. .
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I'm sure if you asked everyone in the world the statistics would be the same. There is no need to bring race, sex, or currency of choice into this.
 
virtusa said:
Yeah, crypto's are very safe, cannot be hacked, cheap transactions (taking cash on ATM will cost you only a +10% commission, and spread between buy and sell is $3,000). The perfect currency to use every day.

View attachment 278859
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dude please

distinguish between a crypto currency and a crypto currency exchange.

the latter is the public interface and has always been known to be the weak link

nobody's ever said, "crypto exchanges are safe and unhackable" .
 
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