This Vigilante Keeps Crypto Safe From Thieves by Hacking it First
CYBER
VICE
4 • 645 Ratings
🗓️ 9 June 2022
⏱️ 44 minutes
🧾️ Download transcript
Summary
Crypto is the wild west. Decentralized finance is the purview of the rich and the risk-taker. There’s millions to be had, but it’s easy—often too easy—to lose everything. If you read Motherboard you know that big and wild hacks are common. Maiar went offline recently after hackers stole $113 million from it. The Osmosis exchange just lost $5 million to hackers. And those are just the stories Motherboard reported on this week.
If you’re an investor, an exchange, or a private holder, who do you turn to when your crypto is being stolen? The authorities are so far behind it’s funny. No, remember, this is the wild west. Sometimes the only thing that can handle a black hat is a white hat.
Today we’re gonna meet one of the vigilante white hat hackers who saves crypto from thieves… by stealing it before they can.
With me today is Motherboard Senior Staff writer Lorenzo Franceschi-Bicchierai, who wrote about the phenomenon on the site and LP, one of the white hats who hacks millions in crypto before thieves can get to it.
Stories discussed in this episode:
Meet the Vigilantes Who Hack Millions in Crypto to Save It From Thieves
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Transcript
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| 0:00.0 | Tannenes got the code it's going to launch. |
| 0:10.3 | It's a unit system. |
| 0:12.6 | I know this. |
| 0:14.6 | It's how all the files of the whole park. |
| 0:16.8 | It tells her everything. |
| 0:18.6 | Sir, he's uploading the virus. |
| 0:21.3 | Eagle One. The package is being delivered. |
| 0:25.6 | Hello out there on the internet. |
| 0:27.7 | I am Matthew Galt, and this is Cyber. |
| 0:31.2 | Crypto is the Wild West. |
| 0:33.1 | Decentralized finance is the purview of the rich and the risk taker. |
| 0:36.6 | There's millions to be had, but it's |
| 0:38.0 | easy, often too easy, to lose everything. If you read motherboard, you know that big and wild hacks are |
| 0:44.5 | common. My ear went offline recently and hackers stole 113 million from it. The Osmosis Exchange just |
| 0:50.1 | lost 5 million to hackers. And those are just the stories motherboard reported out this week. If you're an investor, an exchange, or a private holder, who do you turn to when |
| 0:59.2 | crypto is being stolen? Well, the authorities are so far behind. It's not funny. And no, so |
| 1:07.4 | remember, this is the Wild West. Sometimes the only thing that can handle a black hat is a white hat. |
| 1:13.7 | Today we're going to meet one of the vigilante white hat hackers who saves crypto from thieves by stealing it before they can. |
| 1:21.5 | With me today is Motherboard Senior Staff Writer Lorenzo Franceschi Biccarai, who wrote about the phenomenon on the site, and L.P., one of the white hat hackers, who steals before it can be stolen. |
| 1:34.1 | Which is confusing, but we're going to get into it. Thank you both so much for coming onto the show. |
| 1:40.0 | Yeah, it's silly. Thanks for having me. |
| 1:42.6 | All right, LP. |
... |
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