The Whale Push 🐳🚨

7 years in crypto. Sharing news and my point of view. DYOR. No financial advise

[Elon Musk @elonmusk]

The reality of war

[The Whale Push 🐳🚨 @TheWhalePush]

@kadercalls You should stop to predict then.

[The Whale Push 🐳🚨 @TheWhalePush]

ETHEREUM 🚀🚀🚀🚀

[CZ 🔶 BNB @cz_binance]

@simplykashif Don't worry. Most banks don't have $1.4 billion in cash for you to steal. Fractional reserves.🤷‍♂️

[Kashif Raza @simplykashif]

If a bank were to be hacked for $1.4 billion:

- Freeze withdrawals
- Inform government
- Set up an inquiry commission
- years of investigation
- Customers standing in queue
- Branches closed
- Competitors getting an advantage

Bybit exchange hacked $1.4 billion.

- CEO came live
- Industry united
- Competitors lend support
- 1 hr and everything back to normal
- Industry itself is tracking and freezing
- Zero withdrawal pending

This is what they don't like about crypto -> UNITY.

[CZ 🔶 BNB @cz_binance]

Some thoughts on the recent hack(s).

There is a pattern where hackers were able to steal large amounts of crypto from multi-sig “cold storage” solutions, as with ByBit, Phemex, WazirX and potentially others. In the most recent ByBit case, the hackers were able to make the front-end user interface show a legitimate transaction while the actual signing was for a different transaction. I am less familiar with the other cases, but they sound similar based on limited available info.

What’s more scary is that the affected exchanges used different multi-sig solution providers. The hackers, the Lazarus Group, are highly advanced and broad in their abilities to penetrate. It is still unclear whether the hackers were able to penetrate multiple signing devices, or the server side, or both in each of these cases.

Some people questioned my suggestion of halting all withdrawals as a standard security precaution (in a tweet I posted from a shuttle bus to the plane). My intention was to share a practical approach based on my experiences and observations, yet there is no absolute right or wrong in either approach. My guiding principle is always to lean on the safer side. After any security incident, pause everything, make sure we fully understand what happened, how hackers penetrated the systems, which devices were compromised, triple-check all is safe, and then resume operations.

Pausing withdrawals could cause more panic, of course. In 2019, we paused withdrawals for a week after a massive $40 million hack. When we resumed withdrawals (and deposits), we saw more deposits than withdrawals. Not saying this is a better approach. Every situation is different. It’s a judgment call. My tweet was to share what might work and my intention was to show support in a timely manner. I am sure Ben made the best decision based on the info he had.

Ben did a good job maintaining transparent communication and calmness in dealing with a challenging situation. That shows a sharp contrast to other less transparent CEOs, like WazirX, FTX, etc.

The cases mentioned here are all different. FTX was fraud. WazirX, I will refrain from commenting as there is an ongoing lawsuit.

Most importantly, we should never take security for granted. It is important to learn about security yourself so that you can choose the right tools for your needs. For this, I will share an article I wrote a few years ago. It’s a little outdated, but the fundamental concepts still apply. Stay SAFU! https://t.co/WYtTajg1sB

[Ben Zhou @benbybit]

I do agree with CZ that if this hack was conducted through penetrating our internal systems such as any part of the withdraw system or one of our hot wallet was breached, we would've halted all withdraws until we find the root cause of the problem. In the case of yesterday, it was our ETH cold wallet which we use @safe that was breached, it had nothing to do with any of our internal systems so it was easy for me to make the call to maintain all withdraw and system functions of Bybit as usual.
Binance and CZ was among many of the partners and industry leaders that offered to help us during last night fiasco. We are extremely grateful and simply overwhelmed with all the support that we got. This was a truly tragic event for Bybit but the industry showed strength united together. I have faith that it's only up from now.

[CZ 🔶 BNB @cz_binance]

4 years ago today. Some things never change. 😂

[The Whale Push 🐳🚨 @TheWhalePush]

What is the trendy meme coins right now ?

[The Whale Push 🐳🚨 @TheWhalePush]

Is $GALA going to 1$ soon ?

[The Whale Push 🐳🚨 @TheWhalePush]

My portfolio right now :

[Baguette @solanabaguette]

Bear market? No, Just extra sauce for my gains.
Watch me. $BAG 👀

[Baguette @solanabaguette]

On the 8th day, God said: ‘Let there be $BAG.’

Then He kicked back and let the BagBoys handle the rest.

[Baguette @solanabaguette]

The market’s bleeding red… now you know who’s pulling the strings.

[Hasret.Yaren @evlilik_sayfam]

The BAGFATHER 🌹
"A man who does not spend time with his family can never be a real man."
- $BAG Vito Corleone 😁😁 @solanabaguette

[Baguette @solanabaguette]

Bankers count fiat, we count $BAG. One's crumbling, the other's rising. Stay hungry.

[Baguette @solanabaguette]

🥖 Rewards Delivered! 🥖

We’ve successfully sent rewards to 13 winners who provided their wallet addresses. 🎉 Huge congrats to all of you!

✅@All_father00
✅@Hamu807
✅@phantomofOper4
✅@blessOwen20
✅@MrWildness
✅@Blade652025
✅@pravitelx
✅@Xylaurance
✅@PitalokaWXT
✅@lameerhalf2_0
✅@OzCastillo
✅@Dina_webent
✅@Its_ROSIE7

However, 7 winners are still missing, we’re holding onto your gains! If you haven’t reached out yet, please send us your wallet address so we can complete the transfer.

⏳@LuckyCharm0x
⏳@Lamhaf14
⏳@jacobpolans
⏳@lewsjacob
⏳@yukixchain
⏳@20_olaitan
⏳@web3diegos

Thank you for your patience and for being part of the amazing $BAG community! 🏆✨

[Baguette @solanabaguette]

Sell me this Baguette.

$BAG

[Baguette @solanabaguette]

If she doesn’t say yes to $BAG, was she even worth it?