This Is Why There’s Been So Many NFT and Crypto Hacks

CYBER

VICE

Tech News, News & Politics, Technology, News

4 • 645 Ratings

🗓️ 27 January 2022

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s been a wild few weeks for crypto and NFTs. The whole market took some hits, but the crypto markets especially have seemed to spiral. At the same time, there’s been so many hacks, stolen Apes, and ransomed tokens that it’s hard to keep track of them all.

This week on Cyber, we go through it all. Who lost what and how? Also, what is it about the blockchain that makes it so vulnerable to hacks and schemes?

Motherboard senior staff writer Lorenzo Franceschi-Bicchierai and Motherboard Senior Editor Jordan Perason sit down with Matthew Gault to talk about the unique vulnerabilities of the crypto market and what happens when centralized systems try to interact with a decentralized platform.

We’re recording CYBER live on Twitch. Watch live on Wednesdays at 4pm EST. Follow us there to get alerts when we go live. We take questions from the audience and yours might just end up on the show.

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Transcript

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0:00.0	Tadden, it's got the code it's going to launch.
0:10.9	It's a unit system.
0:13.3	I know this.
0:15.4	All the files of the whole park.
0:17.5	It tells you everything.
0:19.3	Sir, he's uploading the virus.
0:22.0	Eagle One. The package is being delivered.
0:24.9	Hello out there in cyberspace.
0:27.1	You know, it's been a wild few weeks for crypto.
0:30.1	It's been a wild few weeks for crypto and NFTs.
0:34.0	The whole market took some hits.
0:35.3	But the crypto markets especially have seemed to spiral in the last few weeks.
0:40.0	At the same time, there's been so many hacks, stolen apes and ransom tokens.
0:45.6	It's hard to keep track of them all.
0:47.4	Well, today we're going to go through some of the news, who lost what and how,
0:50.8	and also, what is it about the blockchain that makes it so vulnerable to these
0:54.5	hacks and schemes? I'm Matthew Galt, and this is Cyber. So, on this week's show, we've got
1:01.5	Motherboard Senior Staff Writer Lorenzo Franceschi Biccarai and Motherboard Senior Editor Jordan Pearson.
1:07.5	Thank you both so much for coming on to the show. Always a pleasure.
1:12.1	Thanks for having me.
1:13.2	And thank you to the viewing audience.
1:16.4	We had some problems with Discord.
	...

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