Tag Archives: Crypto

October 8, 2024 · 23:53

Making money

Yup, you can make money in three ways. You create it, you steal it, or you can make the government reimburse you. The third one is one that has its own risks. Yet the BBC informs us ‘Customers of failed crypto firm FTX set for refunds’ (at https://www.bbc.com/news/articles/c0qz3dg21vqo) Where we are given “Creditors of the collapsed cryptocurrency exchange FTX are poised to receive up to $16.5bn (£12.6bn) under a bankruptcy plan approved in the US on Monday.” And we get more with “Last year, former boss Sam Bankman-Fried was convicted of stealing customer funds ahead of the collapse and later sentenced to 25 years in prison. The deal will allow former customers to recover a sum worth about 119% of what they had in their accounts at the time of bankruptcy, according to FTX.” As such it seems that these customers get 19% on top of what they had in their accounts. There are ups and downs. We are also given “Some have suggested the repayment in cash will not match the loss of crypto holdings that would be worth far more today had they not been stolen. The value of bitcoin has more than tripled since November 2022.” As such I would surmise that someone went shopping with an approximate 180% of the total of sums. As the outstanding bill was set to “$8bn in customer funds were reported missing, not including debts to investors and others. Mr Ray’s team has since recovered assets worth $14.7-$16.5bn” As such 8 billion was found missing, Roughly double was retrieved and these customers only get 119%? I think there is a stinky fishy smell coming from the realm of banks. They might small consolation that Sam Bankman-Fried is convicted to 9125 days in Hotel Sing-Sing, but that might be merely the impression some feel. You see, the larger premise might be that we are given “the approval of the plan was a “significant milestone” in the firm’s efforts to repay the money to people and firms in more than 200 jurisdictions around the world” but the underlying issue that the BBC seems to ‘ignore’ is that people like Elisabeth Holmes and Sam Bankman-Fried (aka SBM) are given way to much leeway. Holmes was given 11 years imprisonment, where the Guardian on May 8th gave us that her sentence was reduced by two years and four months before original date. As such her sentence is reduced by almost 20%, so what reductions is SBM looking forward to? If is is a similar 20%, he could be out by 2044 and if he plays nice (good behaviour) he might be out even sooner that that. As such we might surmise that crime pays nowadays. And the media will milk these two for whatever they can be milked for. 

Enjoy the day ahead of you.

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May 17, 2024 · 00:54

Balances? Check please!

Two articles passed me by in the last 24 hour. The first gave me pause to think, the second was merely icing on the cake. The first article (https://www.bbc.com/news/world-us-canada-69018575) is the report where the BBC tells us that 2 brothers required no more than 12 seconds to steal 25 million dollars. This happened in April 2023. Now it is time for a history lesson. In the 13th century Amatino Manucci, working for Giovanni Farolfi & Company tarted this approach in 1299 (possibly earlier). This method was still taught when I was in school 680 years later. But the IT people al rushing to get things done faster did away with parts of that. Although this last part is speculation, it makes sense that someone got lazy. Systems have seemingly done away with checks and balances. Interesting enough the BBC also gives us ““The defendants’ scheme calls the very integrity of the blockchain into question,” US Attorney Damian Williams said in a statement on Wednesday, referring to the public ledger that records crypto payments.” I am not sure if I can agree with that. Blockchain gives a timeline, change that and the timeline gets disrupted. What matters is that crypto needs a clear set of checks and balances in place to avoid ‘batch hackers’. As I see it there is an issue with the ‘pending private transactions’ why was it pending? The reason could be very valid, but then the checks and balances for pending transactions needs an overhaul. I am certain that this is not the only case. Yes, it might be the first case, but there is a larger station. You see the department of Defense (US) will have this coming year $850,000,000,000 and how much of that is set in pending transactions? Spread over Army, Navy, Airforce, Marines and Coast Guard. I reckon the US treasury department will hauling ass to get a handle on this. 

I am not arrogant enough to live by ‘this could have been prevented’ but systems evolved so quickly and with so much ‘need for greed’ that I have serious doubts whether someone set down to consider and evaluate the checks and balances on such systems. Even a odd ball geek looking at this and trying to see it inverted because that is the point where glitches are found. 

The second one was also from the BBC (at https://www.bbc.com/news/business-68843985). In this article Jane Wakefield gives us the goods. It is given with “There has been a common theme to these stories, and it is all about how each celebrity made vast sums of money from an online investment opportunity in crypto currencies. And if this all sounds a bit unbelievable, that’s because it is – I hadn’t done a single one of these interviews, nor written any of the articles. And none of the famous people involved, or me, would dream of endorsing crypto investments of any kind.” Is is another setting where the system is not ready for the criminal element. In my mind it lacks checks and balances. Although here it is not as simple. You see there are a dozen roads to the honey jar and sealing them all will just be a waste of time. There is a setting of cloaking and Meta does what it can, but these criminals are as good as the Meta developers, often faster too. 

For now I am still of the mind to never engage with any advertisement on Meta, it is not to be trusted. No social media is and that is a hard lesson to learn, but learn it or lose your cash. This is of course no good news to the real traders there, the real novel experiencers of hobby equipment, but it has come to this. It is time for meta to get a check mark too, one for sellers, so that the people are going to the right place. I am not sure how to go about that, it is not my field of expertise. 

It is Friday here now. Joy, joy.

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September 9, 2023 · 22:01

America is for criminals

That was the realisation that I got today. The reason that I had that thought was a BBC article. The article (at https://www.bbc.co.uk/news/business-66747694) gives us ‘Another FTX executive Ryan Salame pleads guilty’. It is there that we find “He agreed to surrender more than $1.5bn (£1.2bn) to authorities. The pleading comes ahead of the October trial of FTX founder Sam Bankman-Fried.” I had issues from the very beginning, the total lack of checks and balances were the first hurdle I saw avoided by too many. The fact that someone can just push over a billion dollars out of the way is what I personally regard a first piece of evidence. That in itself does not warrant my thought that America is for criminals. That is seen with “authorities said they would accept $6m, two properties in Massachusetts and a 2021 Porsche as part of the plea deal, according to Reuters.” That is the deal for criminals. Fail your criminal empire, you get millions, two houses and a Porsche, that is nice too, not? Has anyone gone insane? That I the way you hand over the keys to criminal empire makers and no matter how you think it goes. The station of crime pays in America. My question becomes what did after former Alameda chief executive officer Caroline Ellison, former FTX technology chief Gary Wang and former FTX engineering chief Nishad Singh get? The setting of such a deal that they all get some plea deal with houses and millions is just too sickening to my stomach. In the end we have one month to go until we find out what happens to Mr Bankman-Fried (or Mr Bonky-Fired as I call him). I wonder what plea deal awaits him. What option do they offer him as he was too confused for matters. Perhaps it is the the crypto currency what drove him insane, it gave too much imbalance to whatever medication he was on. prosecutor Damian Williams, US attorney for the southern district of New York gave us “Ryan Salame agreed to advance the interests of FTX, Alameda Research, and his co-conspirators through an unlawful political influence campaign and through an unlicensed money transmitting business, which helped FTX grow faster and larger by operating outside of the law,” Yet I wonder not what was said there, I wonder what was possible to set the station to advance criminal intent within the law, that is the stage that is connected and it is the parts that is not drilled on. Yet, that is pure speculation from me. 

The fact that billions went awry is still matter for the court, because that is the stage that is perhaps largely ignored. I personally see it as an absence of checks and balances. And yes, I could be wrong here. But when you consider the way that billions were moved from left to right, from the US to untouchable to the US is still matters to consider and with proper checks and balances this should not have been possible. So in the end, is America merely a place for criminals and greed driven people now? I will let you ponder that, but remember that the plea deal here included millions, a luxury car and two houses. That person will be allowed to live in a style that well over 98% of Americans will never know. Consider that part of the equation too.

Enjoy you weekend without millions, a Porsche and two places to live.

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March 15, 2022 · 06:06

When is a slot machine not one?

Well, as dreams go, this was not the weirdest one. Yet I do not know where I was. There was a river near where I was and we were running from a gang of abusive Irishman. On the run is the wrong word, more getting away from. The 3 men around me were laughing, howling actually. I was worried on what was going on, as I never understood what was actually the case. We arrive on a boat, optionally a ferry and we got to the ‘staff only’ place. An officer (not the captain) greeted us and welcomed us. One of the man walked over to a slot machine, the slot machine was bright gold and red. It had all the elements of a slot machine and it also had a padlock, a weird theatrical stretched padlock. The padlock outside had a bottom that could be rotated away. When that happened part of the sleeve could be slid down and now several lines with numbers become visible. The bottom of the slot machine fitted a credit card, some kind of crypto card. The slot machine also fitted USB-C sticks. The slot machine was a laundromat for crypto currency. And let’s face it, in todays world, who raises an eye on seeing a slot machine? I think my ‘associates’ had stolen a decent amount of crypto currency, which they laundered through the slot machines. I have no idea for how much, but the numbers on the padlock made them really happy. I was still wondering why the left stacked heel of my shoe kept breaking off. A weird non connected thought that bothered me. 

But behind this all, there are thousands who are trying, converting or dealing in Crypto and with the Russian blocks, the will be seeking another valve. And those not in Las Vegas will have the option to massively deal and handle in crypto currency. An outlet outside of the bank stage. An outlet that circulates currency unmonitored. A stage that some governments will dread and object to, but until the slot machines are identified, taking in consideration that these machines can alter in shape and size, alter in appearance. What happens when it looks like an ATM? Like a coin exchange machine or a food dispenser? The monitoring groups cannot keep up now, what happens when these iterations are added to the flock?

I can only add Happy Geese time

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January 15, 2022 · 11:03

This is weird!

Yup, it is weird and you will see what I talk about soon enough. You see, not unlike the Sony fiasco, some players are all about blaming the one we all see as a boogeyman, it happens and it lulls us all to sleep. Yet when the BBC gave us 18 hours ago ‘North Korea hackers stole $400m of cryptocurrency in 2021, report says’ (at https://www.bbc.com/news/business-59990477) I took a little time to mull a few things over. You see, it is nice that we are given a (state) hacker and a setting what apparently gave them $400,000,000, yet the danger is different. For me it started with the Sony hack, it gave me an idea to create a new hack that was never done before and the nice part is that it could be implemented in several ways and in several places. Yet then I started to think: “How can a nation observed by so many agencies pull this off, all whilst we saw evidence, journalist supported evidence, that military officers in North Korea had NEVER seen a smartphone, or one of its base functionalities?” This thought matters, because that lack tends to seep through the fabric of ANY organisation (to some degree). So I felt certain that the Sony hack was never done by North Korea, and several accredited and more capable cyber people than me felt the same way. 

So here when I see “From 2020 to 2021, the number of North Korean-linked hacks jumped from four to seven, and the value extracted from these hacks grew by 40%,” Chainalysis said in a report” I feel that I am in a stage where I am watching a blame game develop, all whilst the fault is somewhere else. And there is more, the report the BBC talks about gives us “These complex tactics and techniques have led many security researchers to characterise cyber actors for the Democratic People’s Republic of Korea (DPRK) as advanced persistent threats (APTs). This is especially true for APT 38, also known as “Lazarus Group,” which is led by DPRK’s primary intelligence agency, the US- and UN-sanctioned Reconnaissance General Bureau. While we will refer to the attackers as North Korean-linked hackers more generally, many of these attacks were likely carried out by the Lazarus Group in particular.” It is an issue, because “cyber actors for the Democratic People’s Republic of Korea (DPRK) as advanced persistent threats (APTs)” implies an infrastructure, one that a lot of open nations do not get to have. I am not stating North Korea is innocent (well, they might be of this), I am stating that someone wants us to think it is North Korea, so that others stop looking in THEIR direction. You see, the reference to the Lazarus group (one I personally take offence with) and the DPRK gives a rather large voice, but in that it could only be if senior ranking North Korean officers knew what a smart phone was and that part is weird as some journalists who were in North Korea (2019, I believe) saw the opposite. This does not make sense. As such we cannot ignore hackers, optionally hackers who for a fee took shelter in or near North Korea, yet that puts them in the most watched part of the internet by at least half a dozen players. Personally it makes much more sense if they were working from China. 

And now we get to the good stuff. This is seen in “Once North Korea gained custody of the funds, they began a careful laundering process to cover up and cash out,” the report on last year’s cyber attacks added. A United Nations panel that monitors sanctions on North Korea has accused Pyongyang of using stolen funds to support its nuclear and ballistic missile programmes as a way to avoid international sanctions.” I reckon that laundering is not beyond the abilities of North Korea. Yet the setting of “accused Pyongyang of using stolen funds to support its nuclear and ballistic missile programmes” something that is possible, but the knowledge North Korea has stops this, moreover, their ballistic programmes are set upon failure after failure. Which with $400,000,000 in merely 7 operations sounds goofy to say the least. 

It is my personal feeling that the hackers might be anywhere but in or near North Korea. The Sony hack is optionally a slice of evidence towards that. Consider that Russia has now Arrested REvil, yet no one is wondering how this group had “more than 426 million rubles (£4m), including about £440,000 worth of crypto-currency”, including 20 premium cars. These things get noticed, as such I believe that REvil had some massive levels of protection, a setting North Korea cannot do, it is too unbalanced. With REvil, there was a Russian valve of protection, a state player that is on the top tier, a place where North Korea has no access. When you see these elements questions rise and a lot more questions rise that one would expect. So who did steal that $400,000,000? I have no idea, but consider that someone offering North Korea in its current state is offering $100,000,000 for denying the blame, is that good business practice? It would allow the perpetrators months to set safe 75% and a nice settlement in a very nice place. I would definitely consider such a move and with the world searching, getting the not look in the wrong place is a good place to start.

In all this, I could be wrong, but am I? How much evidence of advanced computer technology (outside of Olympus has fallen) regarding North Korea have we seen? We saw the images of a North Korean president and his top staff looking amazed at a 3 year old Dell computer, one we see in many households. Where is the advanced hardware needed to remain undetected? All questions in addition to the dozens watching their every digital move. If they get away under these conditions, they would be more able than the NSA, DGSE, or FSB. How likely is that? When you look at the larger frame, too much of this is weird. On the other hand, it gave me the idea to create the Hop+1 listening systems, just a little idea I had to scare the Pentagon a little (I need my amusement too). So perhaps this will set me on track for another piece of IP, I have done more with less, so here is hoping.

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July 2, 2021 · 21:03

Mercy on stupid people?

In this age when we have 8,000,000,000 people walking around, should we show mercy on stupid people? I am not talking about people with some mental disorder, I am not talking about people with a speech impediment or people with a physical disorder. No, I am talking about people with a  greed disorder, a mental stage of everything is for free. Should we allow them to be alive? It is a serious question. You see, the BBC gives us ‘How hackers are using gamers to become crypto-rich’ (at https://www.bbc.com/news/technology-57601631) and the BBC adds to the stupidity to put a picture of a nice girl there, although these transgressions are most likely done by well over 90% males. The list “Versions of Grand Theft Auto V, NBA 2K19, and Pro Evolution Soccer 2018 are being given away free in forums” implies that. You see NOTHING is for free, and nowadays, the sun might be (for now) the only thing that comes for free, but air is close to no longer free. In the last decades we wasted air quality to such a degree that more and more need oxygen and that stuff is not free and not cheap. So when I see “hidden inside the code of these games is a piece of crypto-mining malware called Crackonosh, which secretly generates digital money once the game has been downloaded. Criminals have made more than $2m (£1.4m) with the scam, researchers say.” I reckon that this goes far beyond the UK borders and as such the revenue will be a lot higher, in addition, the stupid person thinking that they are getting a free game are using electricity like there is no tomorrow. So any gamer having anything from a 750W Corsair to a 1200W Asus Thor will be donating $0.50 – $0.75 a day per PC to that criminal group. And that is the best news theory, if they leave the computer on and unattended the price could go up by 200%-400% a day, which means that this free game is costing you a lot more, optionally buying that game in the story will cost you $48 at Amazon, implying that you will pay for the game more than once after 15 days, if you are lucky after 20 days. So how free was that game? You might not pay for the electricity yourself but it will reflect in the bill and mom and dad will hold your PC up for ransom if you do not pay the electricity bill. 

So far two places out of a lot more gives us: 

United States: 11,856 victims
United Kingdom: 8,946 victims

As such the $2m is delusionally optimistic, the damage is more than likely a lot higher, especially when we see 

When Crackonosh is installed, it takes actions to protect itself including:

disabling Windows Updates
uninstalling all security software

And that was merely the better news, when you consider elements like

computer slowing down
wearing out components through overuse

You end up with the short end of the stick, and you better believe that it is a lot shorter than you hope it is. So should I feel mercy when a stupid act degrades a persons PC, sets the cost of living a lot higher per week, but that does not matter, does it? You got a free game out of it!

There is one side that bothers me, it is the quote “Tracking the hackers’ digital wallets has revealed the scam has yielded over $2m in the cryptocurrency Monero, Avast says”, it is the part ‘hackers’ digital wallets’, wallets is plural, as such there is every chance not everything has been found and there is even a much larger chance that they will find one group and have several groups walk away, because they were never spotted, and they were optionally a little more clever than the other players. The damage I a lot worse, yet when it comes to stupid people, I do not mind, more game time, more original game time for me. And this is merely the first setting, you see, I took notice because it flushes the one element out into the open. I touched on this with “I believe that it is a first step in the overly effective phishing attacks we face, Facebook might not be part to that, but I reckon the phishing industry got access to data that is not normally collected and I personally believe that Facebook is part of that problem, I also believe that this will turn from bad to worse with all the ‘via browser gaming apps’ we are currently being offered. I believe that these dedicated non console gaming ‘solutions’ will make things worse, it might be about money for players like Epic (Fortnite), but the data collected in this will cater to a much larger and optionally fairly darker player in this, I just haven’t found any direct evidence proving this, in my defence, I had no way of seeing the weakness that SolarWinds introduced. It does not surprise me, because there is always someone smarter and any firm that has a revenue and a cost issue will find a cheaper way, opening the door for all the nefarious characters surfing the life of IoT, there was never any doubt in this.” I wrote it in ‘Not for minors’ in December 2020 (at https://lawlordtobe.com/2020/12/18/not-for-minors/) and anyone (read: Epic) with claims that they will stop this, would be lying to you. Criminals are massively intelligent and their opponents (police and FBI) are not equipped to deal with this, that is beside the manpower shortage they would face. So when you get to slide between stupid kids and greed driven short sighted IT solutions, the people are about to lose a bundle, for the tech criminals it will be Christmas for them 340 days a year (with 25 very well paid holidays).

And that was just the beginning, how long until these easy virtue characters offer games with even more powerful ways to mine? A version of some merge 3 game but now utilising 95% of your processor 100% of the time? It will not interfere with receiving calls, it will not interfere with laptop, tablet and other device, but you become the pawn in a need to mine and it will cost you a lot more than you think. How long until someone combines screensavers and locked screens with the old SETI program and let devices mine the truckloads out of massive data files and we all contribute for every downtime minute every day? That was the danger that greed driven Epic contributed to (as I personally see it), that is the danger that we all face, and it gets worse. You see Yahoo told us ‘Epic is deliberately keeping ‘Fortnite’ off Microsoft’s Xbox Cloud Game service’, isn’t that interesting? The cloud is their competitor, so they want to open up all the markets for THEM, but they are not that eager to hand their game to a streamer where they cannot collect as much. As I personally see it, it is about their margins, it always was and as such I personally consider their case to be a bogus one, but they opened a door, a door criminals will be eager to use, so how long until they offer Fortnite cheats, Fortnite chests with weekly prices, hardware and skins? It will be the gateway to more systems and the law is not ready and the makers of games will find out too late that the floodgates had been opened. That is how these events usually go, but in the end it will not cost them anything, because they will cover all third party solutions and it will be up to the gamer (and their parents) to pay that price. 

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