Fascinating, read the elliptic blog post.
They burned all the stolen funds to vanity addresses.
https://www.elliptic.co/blog/iranian-crypto-exchange-nobitex-hacked-pro-israel-group
Discussion
Lol
Not you keys...
Confused by the amounts. Post says 1.7B lost while article says about 90M.
Oh yes, I didn't notice the billion ref in the nostr post. Don't know what that's referring to, seems 80-90 million is the actual h
hack. Maybe it's talking about inaccessability of funds on the exchange?
Having 90M/1.8B "hot" seems reasonable, so guessing post is mistaken.
Don't really know how to read this fully, but chart seems to show total balance over time. Definitely seeing the sudden drop from 2B to far less on tail end, but not sure that's all been hacked away. Having that much not cold stored (unhackable) seems unlikely. Expect we'll learn more soon.
Also strange is the 10x balance a few months ago 👀
it's probably just propaganda spin. people pulling out of risky shitcoin assets mostly. is the bitcoin price cratering? nope. holding steady just over 100k. the wider market clearly doesn't see there's much more downside to bitcoin. shitcoins, on the other hand, are always going to zero, as you know.
"The hack also does not appear to be financially motivated. The vanity addresses used by the hackers are generated through "brute force" methods - involving the creation of large numbers of cryptographic key pairs until one contains the desired text. But creating vanity addresses with text strings as long as those used in this hack is computationally infeasible.
This means that Predatory Sparrow would not have the private keys for the crypto addresses they sent the Nobitex funds to, and have effectively burned the funds in order to send Nobitex a political message."
Wut.... So they steal real money. Then burn it to...make a point? That seems nonsensical
It's one thing to burn fiat. Something else to lock up loads of btc that can never be accessed again when otherwise it could have enriched someone toward their ultimate objective
centralized exchanges continue to suck
It's not about the money. It's about sending a message.
I bet they didn’t wipeout the bitcoin that people are holding in self custody.
This is a criminal act.