Episode Transcript
[00:00:00] Out of Cycle Update.
[00:00:03] I mean, maybe it's just cursed at this point. CryptoTalk FM. My name is Leister, I'm your host. A breaking update regarding once again. And I'm gonna say they've got to be like cursed. I. Whether it's inside, whether it's malicious, I'm not speculating. But I am noticing a pattern. I'm noticing a pattern of either blatant incompetence or scam. You make up your mind as to what's going on? We talked about Bone, which I was a whale in bone. Not now, but I was a whale in bone. And of course Bone has been crapping like crazy. We talked about least it's printing out as printing out of control. And allegedly the V2 is imminent. I haven't seen evidence of it yet, but allegedly V2 is imminent for that now, allegedly Shibarium, the bridge Shibarium got hacked and I put hacked in quotes, but hacked for $2.4 million by an unidentified scammer.
[00:01:02] How this works is of course Shibarium connects to Ethereum and allegedly through this connection they were able to generate what's referred to as a Flash loan to exploit loopholes in this deal and drain $2.4 million worth of ETH.
[00:01:17] Now, this was brought to attention from Peck Shield, Pec Shield is they're the ones that monitor and look for all these breaches and drains and stuff. They were the ones that called out like Lily Finance that had something very similar happen to it when it first launched. And so there's legitimacy to this now. They. They tagged, you know, Shytoshi said it book who's not in it. Cal Daria took it, he took a look at it. And then Caldaria came back and gave a response.
[00:01:44] Basically said that the staking and unstaking functionality is paused, at least as of when I recorded this stops them from taking money out, contacts the authorities and they're trying to negotiate in good faith with the attacker if the funds are returned. If they return the money, they're not going to press any charges. This would imply that they know who's doing it. So now if we look at the whole leash and the rebase that the printing out of control, they said that the allegedly he knew who the developer was behind that business. And now you got this one who allegedly they know who this one is. But it just seems like on and on and on, every time you turn around, there's some sort of chaos going on with this business. Now, this took place back last week on the 12th so I don't see any evidence that's been resolved as of yet. But Peck Shield seems to think it truly was a hack. Now the reason I put it in double quotes is because a Flash loan is it a hack. I mean technically it is but I don't treat it that way. I treat it as basically incompetence on the on the part of the ship team. This should have been caught and I even called out when Shibarium had launched or just before the launch. This is after the Senate book Chaos. I said that thing better be rock solid and you better make sure it's locked down and there's a risk if you haven't secured it properly because it's a fork of the polygon, which they said it wasn't going to be. So here's what it is and I'm just sharing it in case you didn't know. But the the trust me, the community is pissed off. They are not happy and I do recommend you look at all the different comments because they're absolutely hilarious.
