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CoinDesk Podcast Network

THE HASH: Miami Mayor Francis Suarez on Crypto Outlook; Looter Behind Curve Exploit Starts Returning Assets

CoinDesk Podcast Network

CoinDesk

News, Daily News, Tech News, Business News

4.7698 Ratings

🗓️ 4 August 2023

⏱️ 20 minutes

🧾️ Download transcript

Summary

The most valuable crypto stories for Friday, August 4, 2023. "The Hash" tackles today's hottest topics in crypto, including an update on the exploiter responsible for the Curve Finance exploit returning some of the stolen crypto. The U.S. Department of Justice said FTX founder Sam Bankman-Fried should be "detained pending trial." And, Miami Mayor and Republican presidential candidate Francis Suarez joins the show with an update on his campaign and crypto donations. See also: Looter Behind $61M Curve Hack Starts Returning Assets, Raising Hope for Recovery Curve Offers Hackers 10% Bounty in Exchange for Return of Crypto Sam Bankman-Fried Faces Jail as Justice Department Pushes for Incarceration Miami Mayor Francis Suarez to Accept Presidential Campaign Donations in Bitcoin This episode has been edited by senior producer Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.” See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0

This is the hash podcast.

0:10.4

Stay informed with the latest on Bitcoin, Eith, the Metaverse, Web3, and more.

0:15.7

All on the hash for your ears.

0:19.2

You're listening to the Coindex Podcast Network.

0:23.3

Hey there, it's Coindex TV. You're watching The Hash. You might be listening to us on the

0:27.6

podcast. That's all so cool. Thanks for being here. I'm Zach Seward. We got Will Fox League,

0:33.0

Ben Schiller and Danny Nelson today. What a lineup we got lots to get to and hopefully including

0:38.7

a special guest. Danny, I'm going to throw it to you the latest hack to grip the world of

0:44.0

Defi. Major update on that. What do you got? Yes, we are starting off with a bang today on

0:49.5

the hash talking about curve finance and that $61 million re-entrancy hack that happened over last

0:55.4

weekend in which a hacker was able to drain a bunch of different token pools because of this

1:00.4

unknown bug in a compiler anyway, the Defypire protocols that have been affected, Curve Alchemics

1:06.0

and Metronome, I believe, have been trying to get their money back, attempting to negotiate with the hackers. And today, there was a breakthrough after promising not to pursue the

1:15.0

hackers if they return at least 90% of the funds. One of the hackers seems to have sent

1:20.0

$10 million back to Metronome. And this is a result of some successful negotiations already.

1:26.3

And we're starting to see that this surprising

1:29.4

outreach campaign is actually working. So, Will, I'll start it off with you. What do you think of

1:34.1

the situation? Good news at the very least. I mean, we like to see when people decide to give

1:38.7

money back over these hacking situations. It's become much more common after these hacks to see at least part of the money

1:45.8

go back. And that's often spurred for two reasons. One, the bounty, which is typically put out

1:50.5

there as a carrot, and two, the possibility of a stick, that being like the US government or

1:54.9

someone else coming after you and ruining your life, throwing you in jail. But the last example

...

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