Context: Multichain's CEO has been AWOL since May, leaving the rest of the team without access for server maintenance. There were early rumours that he was arrested by the Chinese government, but there's been no confirmation of that.
Yesterday, several of their contracts were drained to unknown addresses, with a total value of over $126m.
This is not the first time they've had trouble - they were hacked in 2022, but for a measly $3m.
https://twitter.com/MultichainOrg/status/1677180114227056641
https://twitter.com/MultichainOrg/status/1677096839731097600
Various people crying about their magic internet money:
https://twitter.com/VCosta7989126/status/1677131886248841217 (most of the replies to this are people trying to scam him when he has no money now lol)
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another funny crypto situation:
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Me but with DC
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Happy birthgay
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Couldn't be me.
!slots1000
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!slots200
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!slots300
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Tough luck. !slotsmb100
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!slots3281
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!slots 1890
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!slots 1890
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!slots 100
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It's over.
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!slots1776
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What amount of money would you need to lose at once to off yourself? I think a sudden debt load of mid-six figures is probably average.
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Ten bucks if i was havin a bad day
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This is why I don't mess around with this stuff. I don't have 300k. If i just owed that suddenly, i don't know what options are available to me or what that means for the rest of my life. I have about a year's worth of expenses saved up and invest money i could literally afford to lose 100% of.
Maybe im stupid for that but i'm pretty comfy rn so w/e
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I DO have that money and I’d still take my own life, from shame alone.
Gambling addicts are lower than junkies. The rottenest shit in the bowl.
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For some people losing 300k is like losing 20, not a big deal.
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Yeah, I ain’t that, but I could cover it if I had to. Of course, after covering it I’d immediately end my life.
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your options are "declare bankruptcy", and what it means is your credit score is low for a couple years until the bank forgets about it.
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A lot of people itt seriously need to watch this
Not that debtmaxxing is always a good idea, but so many people are irrationally terrified of debt/subservient to lenders. There are no debtors prisons today, it's a mental barrier. You can renegotiate your loan, you can declare bankruptcy, you can move state, you can just stop paying and wait for a collections agency to settle for 40% upfront. Look into your options.
People unironically saying they'd kill themselves over some company having their name in a database. You got their money, they should be more worried about you.
@CCAlkie @R-SLUR_POLICE
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Id just go full Ted if i was so deep in debt that a normal middle class life was impossible tbqh
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Debtmaxxing only works debts that you can purge. Unsecured debt is probably the best or some loans that devalue from inflation.
However if you have secured debt or have assets that debtor can take then debtmaxxing should not be done.
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The brazilian government is currently suing me for nearly a million dollars, I sleep like a baby
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What did you do
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turns out my late father didn't pay a bunch of taxes on the family company, based as frick.
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Your old man was a king
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Losing money you have, or owing money you don't have? Because to me those are different things. I can live with being broke through my own stupid choices, but if I have to be in debt slavery for the rest of my life? Maybe then we're getting into Old Yeller territory.
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File bankruptcy. Being massively in debt is the problem of those that loaned you all that money.
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Unfortunately my cartel loan shark refuses to come to bankruptcy court, he just keeps sending me different ears.
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Well frick, at that point its a penny more than i can get cash on hand. I've seen cartel videos.
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I’m picturing chronic debt slavery. If I lose everything I have, that’s fine. I have maybe a year of expenses in cash and I have a good remote job.
If I lose everything I have and then owe the equivalent of 5x my gross salary to some faceless corporation I gambled on? I give my dogs to my ex and
I’d rather lose my arm or a leg than deal with non-dischargable debt and it’s not close.
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That's why bankruptcy exists though.
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It depends if its dischargeable in bankruptcy (which it usually is, if you didn't go full r-slur and do a fraud). If dischargeable: trillions, possibly more, tbh it'd be kinda cool to have more debt than the GDP of an African country. If nondischargeable: somrwhere between $1 and a million more than whatever my liquid assets are at the time. Frick starting over at this point.
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A cryptobro and degenerate gambler?
Shocking
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How many DC is that, I think Carp has him beat.
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How many times will this be funny?
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Honestly the funniest part is that this passes as reconciliation in the crypto community. Like “hey, ya’ll got rugged, but I didn’t mean it I swear. I like developing cryptoshit. Plz remember to support my next project, rubecoin.”
Despite how egregious and careless this looks to a normal person, the point is to get supporters to migrate to his next project, and it will 100% work.
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Cryptocurrency is beautiful in that it draws in and then destroys the most annoying people alive. They post online about the supposed wickedness of our "rigged" economy and the "corruptocrats" passing regulatory laws, all of it delivered with the smugness of a San Francisco progressive. They tell us to have fun staying poor, and sneer at anyone who disagrees with them.
Then they get exactly the lolbertarian paradise they wished for in crypto and it fricking kills them. It just straight-up fricking kills them dead in seconds flat.
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I love it!
"Do your research before investing in risky assets, okay?"
No.
....
Where's my money?!?
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In half the world the IRL non-crypto economy works like that as well -- trust the wrong person, make a stupid decision, you're fricked, no recourse. The fact that fools often lose in crypto is a feature not a bug.
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thank the lord for our financial institutions
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crypto right now is unironically the lobertarian paradise I wished for
survival of the fittest, the weak are culled by their own hubris and lack of foresight
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The fraud isn't even disguised half the time, it's not hard to avoid
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"Let me turn your etherium into r-slurcoin, itll 10x in value i swear!"
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This is why I am a firm believer in Karma.
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I have to admit, they made me kinda angry with their "frick you, got mine" attitude, felt so much higher than the general pleb on the street
now I truly enjoy seeing them on the ground, and even morally justified - I didnt start the fire
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Pottery
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I hear about rug pulls all the time, it literally comes across to me as having way more rug pulls and scams than the regular stock exchange, which is already corrupt as frick.
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could set your watch to crypto rug pulls
everyone on /r/cryptocurrency :
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Too many diamond hands and bagholders.
Apes really flocked to this one.
It was mooning at first but you never know.
It's just the crypto market, no-coiners will never understand.
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Frick I hate cute twink reddit cypto/stock lingo.
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If regulators seem slow to crack down on crypto, it's because they think it's funny.
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NOT YOUR KEYS NOT YOUR COINS RETAAAAAAAAAAAARRRRDDDDDDSSSS A HARDWARE WALLET IS LIKE 100 BUCKS FFS
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Follower of Christ Tech lover, IT Admin, heckin pupper lover and occasionally troll. I hold back feelings or opinions, right or wrong because I dislike conflict.
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Its truly incredible isn't it lol
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It’s never not funny.
Follower of Christ Tech lover, IT Admin, heckin pupper lover and occasionally troll. I hold back feelings or opinions, right or wrong because I dislike conflict.
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Oh this reminds me, I was talking to a friend of a friend who legit programs tech on ETH. I told him I was using a cold card and he had no clue what a hardware wallet was
Follower of Christ Tech lover, IT Admin, heckin pupper lover and occasionally troll. I hold back feelings or opinions, right or wrong because I dislike conflict.
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How do these people function? Although I'm also rslured by stacking chainlink
https://vitalik.ca/
Vitalik has been pretty quiet
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He was like “how do you sign your transactions though???”
I believe he actually has met Vitalik a few times.
I know nothing about ETH, I’m just hodling btc and DCAing.
Follower of Christ Tech lover, IT Admin, heckin pupper lover and occasionally troll. I hold back feelings or opinions, right or wrong because I dislike conflict.
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But what if I took that $100 and put it into the next bitcoin?
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How many times has this happened? Like five now surely? I hate cryptoBIPOCs so this pleases me
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Do you mean with this particular exchange or whatever it is?
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:Wat da frick you talkin' 'bout, b-word? Ain't nothin' particular 'bout nothin' round here. You best get yo' head out yo' butt 'fore I'm forced to frickin' put it back in fo' you.
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neighbor what
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Almost 100% of the time tbh
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You mean with exchanges specifically or all crypto-related scams? Seems like there are multiple high-profile scams involving crypto every year (and many smaller scale ones)
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Welp since it's a crypto thread !slots2000
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Lmao it's like when I had crypto all over again lmbo
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!slots200
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!slotsmb100
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!slotsmb100
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Imagine if the CEO of Vanguard could just unilaterally transfer however many trillions to his own account and there was nothing anyone could do to stop it or get the money back.
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I only stick to legitimate exchanges
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Crypto r-slurs get rugpulled for the 10485828th time
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Can't believe I lost my life savings on Bingus token
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What happened to bingus???
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Rugged
It was such a promising project too. I don't really remember anything about it besides the name but uhh...it did something I think.
R.I.P.
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That thing that never happens, happens again
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All of the replies are ppl trying to scam him
The grindset never stops lol
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Crypto r-slurs still dont understand youre supposed too store you're crypto on a personal hard drive, the whole point of crypto is too be a decentralized currency. @American_B_Beterson say this as a feminist ally, all of these cryptoids deserve it for completely misusing cumcoins
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"How do I work this thing I've spent the past 3 years on twitter ranting and raving about"
yea if you can't figure it out mainstream adoption is surely gonna happen any day now
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Lol future of finance indeed, so much simpler than bank and IRA
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ponzi schemes gonna ponzi
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i would 100% do the same lol.
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Literally every bridge gets hacked eventually.
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This is the future of money
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Finally some good news
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Why would you ever trust a cryptocurrency being owned and operated by a Chinese team? Are these people complete r-slurs? Crypto is practically illegal in China and mainland Chinese have a culture of rampant lying and cheating in order to get ahead.
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Snapshots:
archive.org
ghostarchive.org
archive.ph (click to archive)
Multichain's CEO has been AWOL since May:
archive.org
ghostarchive.org
archive.ph (click to archive)
their contracts were drained to unknown addresses:
archive.org
ghostarchive.org
archive.ph (click to archive)
they were hacked in 2022, but for a measley $3m:
archive.org
ghostarchive.org
archive.ph (click to archive)
https://twitter.com/MultichainOrg/status/1677180114227056641:
archive.org
ghostarchive.org
archive.ph (click to archive)
https://twitter.com/MultichainOrg/status/1677096839731097600:
archive.org
ghostarchive.org
archive.ph (click to archive)
https://twitter.com/VCosta7989126/status/1677131886248841217:
archive.org
ghostarchive.org
archive.ph (click to archive)
https://twitter.com/Tombr8r/status/1677143238929711105:
archive.org
ghostarchive.org
archive.ph (click to archive)
https://twitter.com/SmartlyC/status/1677158351384494083:
archive.org
ghostarchive.org
archive.ph (click to archive)
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