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Hackers steal $615M from Ronin in one of largest crypto heists on record
New York Post ^ | March 29, 2022

Posted on 03/29/2022 12:01:49 PM PDT by nickcarraway

Blockchain project Ronin said Tuesday that hackers stole cryptocurrency worth almost $615 million from its systems, in what would be one of the largest cryptocurrency heists on record.

The project said that unidentified hackers on March 23 stole some 173,600 ether tokens and 25.5 million USD Coin tokens. At current exchange rates, the stolen funds are worth $615 million, but they were worth some $540 million at the time of the attack.

This makes it the second-largest crypto theft on record, according to blockchain analysis firm Elliptic.

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy
KEYWORDS: cryptocurrency; luna; terra; tulipmania

1 posted on 03/29/2022 12:01:49 PM PDT by nickcarraway
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To: nickcarraway

They stole invisible money.


2 posted on 03/29/2022 12:06:59 PM PDT by BEJ
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To: nickcarraway

inside job


3 posted on 03/29/2022 12:13:03 PM PDT by Migraine ( )
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To: nickcarraway

Shouldn’t that have crashed the currency completely?


4 posted on 03/29/2022 12:17:57 PM PDT by higgmeister ( In the Shadow of The Big Chicken)
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To: nickcarraway

At least with gold, silver or paper money a handy 9mm could deter thieves ... not a practical defense for electronic money.


5 posted on 03/29/2022 12:23:46 PM PDT by antidemoncrat
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To: nickcarraway

How can one possibly steal from a blockchain system? I thought that was the whole point of blockchain!


6 posted on 03/29/2022 12:26:51 PM PDT by LittleBillyInfidel (This tagline has been formatted to fit the screen. Some content has been edited.)
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To: nickcarraway

Gotta pay for 100 replacement BMPs somehow.


7 posted on 03/29/2022 12:29:13 PM PDT by BenLurkin ((The above is not a statement of fact. It is either opinion, or satire. Or both.))
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To: nickcarraway

Everyone should be comforted knowing that hobbyists and fly by nights “banks” are safeguarding your money.


8 posted on 03/29/2022 12:37:46 PM PDT by BiglyCommentary
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To: BiglyCommentary

Wouldn’t it be exciting to trade stocks on hobbyist stock exchanges with amateur hour back offices?


9 posted on 03/29/2022 12:39:56 PM PDT by BiglyCommentary
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To: nickcarraway
Ronin
10 posted on 03/29/2022 12:46:20 PM PDT by scott7278 ("...I have not changed Congress and how it operates the way I would have liked..." - BHO )
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To: LittleBillyInfidel

Block chain has been created stupidly. It is more like a bearer bond than a security currency.


11 posted on 03/29/2022 12:56:48 PM PDT by CodeToad (Arm up! They Have!)
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To: LittleBillyInfidel

The block chain itself was not hacked. The hacker used stolen keys. Just like the most secure door on earth is useless if you leave a key under the mat.

Unlike banks, stolen blockchain money is there for all to see and trace. Many criminals who thought they were anonymous have been caught years down the line by tracking their spending.


12 posted on 03/29/2022 1:36:15 PM PDT by varyouga
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To: nickcarraway

Digital currency, the fade these days......


13 posted on 03/29/2022 1:46:24 PM PDT by cranked
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To: BEJ

14 posted on 03/29/2022 2:15:48 PM PDT by DannyTN
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