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The Worst Loss In Crypto Just Happened…

FTX, Sam Bankman-Fried and Crypto bros all have united in having the worst day of their lives. One of the largest exchanges has been hacked, bankrupt and hundreds of millions have been kept away from the people who’ve been impacted the most. What’s next? Let’s find out! Thanks for watching!
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  1. My 5 year old son also hasn't had school all week because the school's system was hacked into and shutdown. Guess they want ransom for the restoration of the school's system. And it's more than one school district that's being harmed right now in the area.

  2. the tech behind crypto isn't cool or revolutionary FFS.

    Crypto is an unworkable solution to a problem that doesn't exist, based on 'innovative' technology that offers nothing new.

  3. My favorite part is that politicians voted to send billions to Ukraine, and then apparently that money was invested in FTX, and then the FTX bros were in the top 10 donors to both parties (Bankman himself #2 after Soros). Nothing sketchy going on here! It isn't as if the Pandora Papers revealed Zelensky had hundreds of millions in offshore accounts and we could have seen something like this coming miles away.part of this scandal is the web of interpersonal connections amongst those involved. The fact that Fried’s mom is part of a super pac and his aunt is part of the WEF, there’s just too much. Bankman himself was the second highest donor to Democrats for the 2022 US mid terms with 40million, number one was George Soros. He also planned on donating a billion in 2024

    OY VEY gods chosen people at it again.

  4. This sounds sus the possibility could be there that the people going through bankruptcy are hacking themselves to pocket the cash and leave I am not saying that's what is happening but given the coincidence I think I wouldn't be mistaken to say that's a possibility.

  5. 3:15 If they both used the same 2 factor, the SIM CARD could have been spoofed. Once they hack one log in they have the other hacked too, they can verify the SMS text messages for 2 factor. If you use 2 factor that relies on Call/text IT CAN BE HACKED THEY CAN SPOOF YOUR SIM CARD AND RECEIVE YOUR VERIFICATION TEXTS.

  6. FTX CEO admitted to a money laundering scheme between the US, Ukraine and the DNC. It's not a hack. US gave money to Ukraine for "War and humanitarian efforts", Ukraine pumped money into FTX, FTX gives money to DNC in the form of donations.

    What a cycle, ehh ladies and gents?

  7. Being an ex crypto bro is the weirdest feelings I have no idea how 2 months ago I thought the world was going to gladly adopt a currency system where stuff can cost 20% more of less depending on the day

  8. Never touched crypto, never will.

    Same thing happens with different technologies. Right now for instance everyone and their brother has a startup for making BEV, and a company can become a half billion dollar company in a few weeks, without any assets and I find it INSANE that people stick their money into these things and then it all gets lost when the creator of the company has bled off the money that was invested into offshore accounts or bought a home in the tropics somewhere. It's just crazy.

  9. "We know the user" about the hack is because apparently FTX admin and the hacker were both moving funds at the same time, and he was saying that the person moving funds as an FTX employee was a known person, not the hacker. The two just got mixed up in the discourse.
    At least, that was the story at the time and what he referenced.

  10. I think the juiciest part of all this is the tie-in between FTX, the Democrats, and Ukraine. Bankman was the second highest contributor to the Democrat party. Ukraine was utilizing FTX to fund the war. So, for all intense and purposes, all three parties were involved in a money-laundering scheme.

  11. But Muta the whole draw of crypto-currencies is that it's decentralized which makes it unregulated. When something is unregulated and ish hits the fan the government can't step in and bailed out the top 1% who lost money like they did during the bank bailouts of 2008 financial crisis.

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