🇲🇾🇲🇾🇲🇾 Crypto Enthusiast A Teacher A Bitcoiner Cosmos Ecosystem🚀🔥⚛️
Cheras, Selangor
Joined August 2019
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Will keep this great moment here. Thanks @BitcoinerMY for this opportunity.
As Erik Voorhees once said : “…rebellion, peaceful for sure but no less revolutionary.” Really hoping that can meet f2f with Harris Irfan in the future, which is also a bitcoiner.
⚛️snapetzy.cosmos retweeted
Theory: most of the money in the Keplr Google/Apple login "hack" wasn't stolen. It was rescued.
I went through the chain data on 7 chains. ~$5.7M was swept out of these wallets, and all of it sits untouched in two addresses that behave like a recovery operation 🧵
⚛️snapetzy.cosmos retweeted
🚨 They tell you to keep your money in the bank because it's safe.
In just 24 hours, Indonesia's banks, finance and insurance firms were hit by 210,000 cyber attacks.
Not in a month. Not in a year. ONE day.
That's almost HALF of the 439,000 attacks blocked across the whole country.
And more than government, tech, transport, telecoms and every other sector on the list COMBINED.
Nationwide, about 5 attacks every second. 24 hours. NONSTOP.
And it's not only Indonesia.
🇲🇾 Malaysia: pages of Bank Rakyat's website were defaced on Friday night. Portals at several Malaysian banks were disrupted. The national cyber agency raised the threat level from LOW to MODERATE.
🇫🇷 France: hackers got into Crédit Mutuel Arkéa through one of its service providers and stole about €100 million from the bank's own account.
Your savings are not sitting in a vault.
They are numbers on a server. And that server is under fire around the clock.
Your bank's app will never show you numbers like these. This account will, every time they jump. Follow me.
⚛️snapetzy.cosmos retweeted
🚨 Cosmos drain update: ~$3.16M now taken from 41,500+ wallets on @osmosis, @cosmoshub and @injective
The receiving wallet hasn’t transacted in 30mins, but the attacker is now actively testing a tool that steals STAKED $ATOM in batches. The batch version looks like the next step for taking the staked $ATOM still left in drained wallets.
Protect yourself:
1️⃣ Move to a NEW seed. A hardware wallet ideally - DO NOT STORE YOUR SEED PHRASE DIGITALLY E.G. A SCREENSHOT)
2️⃣ $ATOM stakers: tokenise your stake & send it to the new wallet. Unstaking takes 21 days
3️⃣ Never enter your seed anywhere
4️⃣ Ignore any "recovery" DMs
Step 2 is the important one. Unstaking takes 21 days, and the attacker can take staked $ATOM instantly, so tokenising the stake is the only way to move it in time.
The attacker is already set up to drain all remaining assets 21 days from now when the unstaking process concludes for non-tokenized assets. That will be automated via script, and happen far quicker than you can do it manually.
We have received reports of unauthorized transactions on some Keplr accounts created with Google or Apple login. We flagged this to the @Web3Auth team and have been working with them on the investigation since.
Based on our initial assessment: if you created your Keplr wallet with a recovery phrase or a hardware wallet, you are NOT affected.
If you created your Keplr account with Google or Apple login, your account may be affected. While we investigate:
– Do not send new funds to that account.
– Do not re-import or recreate it anywhere.
– Google/Apple login is paused for now.
– Trust updates only from this account. Ignore DMs or links offering “recovery”.
We will share verified details and next steps here as soon as we have them.
⚛️snapetzy.cosmos retweeted
🚨 128 BANKS ACROSS WESTERN JAPAN JUST WENT DARK AT THE SAME TIME.
Shinkin banks from Tokai west, all the way to Kyushu. A system failure on a Friday afternoon.
ATMs: OFF
Teller counters at 3,430 branches: OFF
Internet banking: OFF
Transfers to other banks: OFF
Fully unavailable. The money is still in the accounts. Customers can't get it out.
→ 27 banks hit in Kansai and Tokushima alone
→ ALL 8 in Fukuoka prefecture
→ Seto Shinkin cards blocked even at convenience-store ATMs
→ paper "SUSPENDED" signs stuck on ATMs in Osaka
Not a war. Not a bank run. No sign of a hack.
The suspected cause: broken communications equipment at the West Japan Center of ONE shared system that 236 shinkin banks run on.
One center failed. 128 of those 236 banks froze with it.
As of Friday evening in Japan, still NO time given for a fix.
3 days ago it was Paraguay. 3 million customers locked out of Ueno Bank, $380 million of the state pension fund stuck inside.
Now it's 128 banks in Japan.
The financial lockdown is getting BIGGER.
Paraguay got no warning. Japan got no warning. Follow me today, or you'll wish you had when your own bank's screen goes dark.
⚛️snapetzy.cosmos retweeted
CZ bilang "kalau exchange crypto bisa dibobol, bank posisinya lebih parah". videonya ditonton 1,3 juta kali. eh sehari kemudian beneran ada bank yg kebobol 😳
namanya crédit mutuel arkéa, bank di perancis dengan aset sekitar $235 miliar.
alurnya menurut ZachXBT dan penjelasan bank nya:
1 nov: hacker masuk lewat platform salah satu vendor bank itu. dari situ dia pakai rekening milik bank sendiri (bukan rekening nasabah) buat transfer ke pihak lain.
uangnya lalu masuk ke akun exchange kraken, crypto.com dan OKX, terus ditarik keluar dalam bentuk USDC dan USDT. sekitar $106 juta dalam waktu kurang dari sehari.
2 nov: ZachXBT ngumumin ada "lembaga di eropa" yg kecurian. abis itu ketemu $27 juta lagi, sebagian malah ditarik setelah dia ngumumin.
4 nov: bank nya ngaku kena serangan. angka $133 juta ga dikonfirmasi, tapi kata mereka skalanya memang segitu. nasabah ga ikut rugi, dan sebagian dana uda diblokir.
yg menarik buat kita: hackernya ga mau lama2 pegang stablecoin.
USDC dan USDT itu bisa dibekukan sama penerbitnya (circle dan tether). jadi dananya buru2 ditukar ke ETH, yg ga bisa dibekukan siapa pun, terus sebagian dipindah ke monero (koin privasi yg transaksinya susah dilacak).
pola nya mirip hacker binance kemarin. buat kita stablecoin itu tempat paling aman buat parkir nilai. buat pencuri justru yg paling cepat dibuang, karena paling gampang dibekukan.
satu lagi yg sama: yg jebol bukan sistem utamanya, tapi pintu samping. di binance laptop karyawan, di arkéa platform vendor.
Binance Founder, CZ, issues big WARNING.
"If a crypto exchange can be hacked, banks are in a worse position."
"This is not just a #crypto problem. This is actually a much wider information security problem."
⚛️snapetzy.cosmos retweeted
Bitcoin, Sovereignty, and the Future of Power
> Bitcoin strengthens individual, community, and national sovereignty.
> Bitcoin alone cannot solve future global crises.
> Four crises threaten sovereignty and independence.
> These involve money, energy, computing, and robotics.
> Centralized governments struggle with the digital age.
> Centralized power creates growing risks of control.
> Paper Bitcoin threatens genuine financial independence.
> ETFs and corporate holdings could centralize Bitcoin.
> Self custody protects against financial control and confiscation.
> Owning computing hardware is essential for independence.
> Centralized computing enables surveillance and control.
> Future governance could follow three different paths.
> Private network states could replace traditional governments.
> Centralized surveillance could dominate society.
> Decentralized networks could protect individual sovereignty.
> Political reform is necessary for meaningful decentralization.
> Governments must distribute power rather than concentrate it.
youtu.be/g0UqM4emXwg?is=A70L…
⚛️snapetzy.cosmos retweeted
Correction:
@LunoGlobal withdrawals are now processing normally
However crypto sends are disabled temporarily on some accounts for safety
Cyberattacks are rampant everywhere…
If the largest crypto exchange can be hacked for $6.3b, I don’t see how other institutions are safe
One of the regulated exchanges @LunoGlobal has temporarily paused withdrawals due to security concerns
The situation is very fked up
⚛️snapetzy.cosmos retweeted
Thank you brother for your considered comments.
In matters of Shariah - I don’t disagree with any of what you say. My position is based on market practice - which is allegedly directly from modern Shariah standards. In fact your position tends to confirm my points.
Before I explain, I should clarify something important. I have always been a massive supporter of our Deen with regards to financial matters. Some years ago I delivered a series of webinars (four were originally planned) discussing Hadith (on dates and related matters) and how we can faithfully derive complex requirements for the successful operation of financial markets from them. This series extended to 26 weeks.
I have always maintained that scholars in Islamic finance are sincere. This has never been in question. I have written several papers which discuss the diversion of modern Islamic finance from the principles laid out by our Deen. I mention them only to provide context for my position
I also believe AAOIFI is generally making sincere attempts to align modern shariah standards to faithful requirements of our Deen.
The point is that modern islamic finance operates - In spite of Shariah standards - in a cohesive and observable and repeatable manner. The market delivers interest rate products consistent with the wider debt based economic system in which the Islamic banks operate.
The outcomes are observable. 95% of global Islamic finance assets (of around $6 Trillion) are interest based – my own analysis. The balance sheets of Islamic banks are around 95% dominated, both assets and liabilities, by interest rate products whose pricing and behaviour reproduce the conventional banking system. Again my own analysis and this is publicly available. These are products that deliver debt and credit while generating time-priced returns economically equivalent to interest. This is deliberate. I have also written how Islamic banks are 40x more profitable when they deliver debt and lending compared to actually investing in assets. Their actions are entirely rational.
Common institutional implementations of commodity Murabaha do not comply with key AAOIFI requirements, including those concerning agency, onward sale and possession. The then Chairman of Dubai Islamic bank’s Sharia Supervisory Board and an AAOIFI Sharia Board member has publicly written about this. His stated position concerned institutional Tawarruq as a prohibited practice.
One major attempt by Islamic banks to move away from commodity Murabaha has been Interbank Wakala. The white paper for this product explicitly covers practitioners stating that the return should be known and effectively guaranteed. The scholars say this is impermissible and that this cannot be communicated to the other party as this would contravene Shariah principles.
Yet such institutions have Shariah approval from their Shariah board. Often involving Scholars whose institutional memberships often overlap with membership of AAOIFI’s Shariah Board
In addition - the Sukuk market operates - again - not in accordance with AAOIFI Shariah standards. The additional resolutions in 2008 relating to Sukuk were not new - they were a clarification and reaffirmation of the existing Sukuk standards - again which the market was ignoring. One of the four books in my series is wholly on Sukuk and covers this in detail. I would be happy to share this book with you if you wish. All Sukuk are presented and certified as Shariah-compliant, despite their economic and contractual defects. Scholars whose membership of AAOIFI often overlap are the ones who then provide Shariah approvals for Sukuk deals that don’t align with these standards.
A study at INCEIF examined nearly 900 Malaysian corporate Sukuk issued over 15 years. Only 86 used mudarabah or musharakah risk-sharing structures. None of those 86 was genuinely risk-sharing in substance, and 97% required repurchase at face value. I have personally reviewed dozens of Sukuk prospectuses and found none to be compliant with AAOIFI standards and in fact are clearly in contravention of them. I have found no legal Sukuk documentation containing unqualified issuer representation that the entire Sukuk structure and all transaction documents comply fully with all applicable AAOIFI Shariah Standards. This is market practice. All are signed off by scholars. I have a long youtube video showing precisely how market practice structures these Sukuk.
The market prepares its desired and necessary outcome - which is overwhelmingly debt and credit and lending - and then introduces scholars to provide the ratification. This structurally marginalises scholars and leaves them with insufficient institutional power to alter the market’s dominant economic outcomes. Individual interventions may occur, but they have not altered those aggregate outcomes.
A more precise way of restating my more sweeping statement that modern islamic finance has made Shariah and scholars irrelevant would be this:
the institutional Shariah apparatus has proved incapable of stopping the market’s systematic movement towards riba replication.
At the same time, that apparatus continues to approve the structures through which this systemic movement towards Riba replication occurs
I personally know scholars who are troubled by this. Who refuse to operate with Islamic banks. Who are trying their best to support change. Who see the ideological capture taking place and wish to reverse it.
This is why my base position has been that reform of such a captured modern Islamic banking system is not possible. Because it is operating exactly as planned. What is needed is not better products built inside the same system. What is needed is a direct abandonment of Islamic banking and the opportunity for Shariah and scholars to operate without constraint in the search for faithful financial markets and products.
It is my unyielding respect for Shariah and scholars that is the driver of my criticism.
There are legitimate criticisms of Islamic finance institutions, but some important distinctions are being overlooked.
Sukuk are not a single financial product. They can be structured through Ijarah, Mudarabah, Musharakah and other contracts, each governed by different Shariah principles.
Crucially, we must understand why certain Sukuk were criticised. Much of the criticism concerned capital guarantees in particular investment structures. A fatwa addressing contractual defects prevalent at the time does not automatically apply to every Sukuk, particularly where those defects are absent or the structures have since changed.
Three important juristic principles are relevant here:
الحكم على الشيء فرع عن تصوره: A ruling requires properly understanding the transaction. We cannot judge all Sukuk as though they share the same structure.
الحكم يدور مع علته وجودًا وعدمًا: A ruling follows its underlying legal cause. We must establish whether the defect prompting prohibition exists in other structures.
تغيّر الفتوى بتغيّر مناطها: A fatwa may change when the underlying facts upon which it was based change.
Furthermore, العبرة في العقود للمقاصد والمعاني لا للألفاظ والمباني establishes that contracts are judged by their substantive realities, not merely their names or outward forms.
Economic resemblance to conventional finance does not, by itself, establish that a transaction constitutes riba. That requires examining its actual contractual structure, ownership and liabilities.
As for Commodity Murabahah, there are legitimate scholarly objections to organised Tawarruq, but this must be distinguished from other forms of Murabahah and Tawarruq that may be permissible. Similarly, sale and leaseback is not prohibited in every form. Its ruling depends on genuine ownership, the allocation of liabilities, the contractual conditions and any repurchase arrangements.
Nor is it accurate to suggest that scholarly criticism achieved nothing. Criticism of certain Sukuk structures contributed to changes in AAOIFI's standards, even if questions remain about implementation across the industry.
Criticism is welcome, and the industry's practices are not flawless.
However, declaring that Islamic finance has rendered Shariah and its scholars irrelevant is a sweeping conclusion that overlooks these important juristic distinctions.
⚛️snapetzy.cosmos retweeted
🫠 THE BINANCE HACKER WAS SMARTER THAN EXPECTED
The Binance hacker pulled off one of the smartest moves I've seen in crypto so far.
First, Tether freezes 1.77 billion USDT.
Then Circle freezes 825 million USDC.
At that moment, it looked like he was sitting on dead money.
But that's exactly what he'd planned for.
He didn't even leave part of the USDT in the wallet. He deposited 60 million as collateral on Aave and borrowed 19,762 Ether against it.
Then he was gone.
And now things get really wild.
Tether can freeze USDT in a wallet. No one can freeze borrowed Ether.
Aave has frozen the markets, the 60 million USDT is stuck as collateral. The hacker is sitting on a good 44 million dollars in Ether.
He's never going to repay that loan. Why would he.
If you do the math, he sold his USDT for around 3,030 dollars per Ether. Ether is at 2,240. A lousy rate.
But 44 million is more than zero. And zero is what it would've been if the USDT had stayed in the wallet.
Two companies froze billions in minutes. One guy who understood DeFi still walked away with a chunk.
And that was just the small potatoes. Over half a million Ether and 18,270 #Bitcoin—no one could freeze those anyway.
Must follow @julia_coder_ for more content like this ❤️
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⚛️snapetzy.cosmos retweeted
🚨 BREAKING: Hackers are hitting the world's money system in 7 places at the same time.
This is what Covid looked like in week 1. A few banks. A few apps. Nobody called it a crisis.
1/ France: more than €118 million (about $133 million) was pulled out of Crédit Mutuel Arkéa over several days and turned into crypto. Today its app was down and EVERY transfer was blocked. The bank says customers lose nothing.
2/ Belgium: on October 28, the federal finance ministry said a cyberattack hit it. The online tax portal was SHUT and tax deadlines will be pushed back.
3/ Eurozone: on October 22, the European Central Bank, the bank behind the euro, confirmed that attackers planted malware on one of its websites.
4/ South Korea: at least 9 banks targeted since late September by an attacker using an AI hacking agent. At Shinhan Bank alone, about 25,000 customers had their names, phone numbers, incomes and loan limits exposed.
5/ Japan: hackers broke into GMO Internet and demanded $50 million in crypto. The prime minister promised an emergency anti-cyberattack package.
6/ At least 14 countries: China-linked hackers used AI agents to attack 200+ organisations in just 11 days. Finance was on the target list.
7/ Crypto: more than $6 billion drained from Binance hot wallets on 11 blockchains on October 29, most of it in about 30 minutes. The FBI says North Korea did it.
Now zoom out.
Hackers now send AI agents to do the work. The French money left over several days before the bank confirmed anything. Fake IDs passed the crypto exchanges' checks. About $63 million in stablecoins became 27,553 Ether in 4 hours. Part of it vanished into Monero, a coin built to hide who sends and who receives.
Covid locked the streets. This time the lock is on the bank app, and €118 million is already gone. Nobody is calling this a crisis yet. But central bankers already plan for the day the hackers get in.
The G7 agreed to run drills that simulate AI attacks on banks. The ECB gave eurozone banks until October 31 to hand in AI cyber defence plans. And last month the IMF chief warned we may end up with "lots of people with shoeboxes under their beds."
We confirm every attack on banks and exchanges before we post it. Follow for the next confirmed case, and share this with anyone whose salary lands in a bank account.
⚛️snapetzy.cosmos retweeted
Binance Founder, CZ, issues big WARNING.
"If a crypto exchange can be hacked, banks are in a worse position."
"This is not just a #crypto problem. This is actually a much wider information security problem."
⚛️snapetzy.cosmos retweeted
🚨🇵🇾 CHAOS in Paraguay as largest digital bank Ueno COLLAPSES
Central Bank seizes it after solvency ratio crashes and around 3 million customers are LOCKED OUT of app, cards & transfers.
Central Bank President Carlos Carvallo resigned right after pulling the plug. He previously ran the firm that birthed Ueno.
Anti-Corruption forces have ordered the detention of 8 top execs including the founder.
Writer: Bri
⚛️snapetzy.cosmos retweeted
a developer just put $2,000 in bitcoin on a server with the PHP vulnerability and dared the entire internet to steal it
17 hours later the money is still there
people are crashing the server but nobody can actually pull off the exploit
remember when i posted about marcus hutchins calling out all those fake AI-generated exploits on github? this is the proof
the vulnerability is real. but actually using it is a completely different story
$2,000 sitting on a broken server and the whole internet can't touch it
⚛️snapetzy.cosmos retweeted
This is an incredible video. Deep down, we’ve always known this.
Qatari officials ADMITTED that America forces the Arab nations to spend their money on useless projects and lavish sports tournaments.
Arab money is held in US banks, and the Arabs have to ask permission from the Americans whenever they wish to withdraw and spend their own money. They’re like a 16-year-old kid asking their Dad for permission to use his credit card.
If an Arab ruler wanted to spend his billions on new factories, shipyards, and new strategic industrial projects, America would refuse to give him permission.
But if the Arab ruler wanted to spend his billions on new music concerts, tennis tournaments, and luxurious hotels, then America would give him permission to spend the money.
America doesn’t want you to be strategically independent of them, because they would lose their leverage and control over you. They want these small, divided, and weak Arab states to be dependent on the US forever.
America uses modern industry and comfort to hold you hostage. These golden handcuffs ensure that you will never defy the Americans. Your electrical grid, antibiotics, refrigerators, and machinery are all dependent on US supply chains. If you dare defy America, they will shut off your imports and your people will starve.
It’s not like the people in Riyadh and Doha know how to farm. They live in skyscrapers and they buy their food from local grocery stores which rely on modern equipment and global imports.
Breaking this cycle of dependence relies on breaking the very supply chains which keep millions of people fed and housed.
In a perverse way, being developed makes you more dependent. That’s why nations like Afghanistan and Yemen are more able to defy America, simply because they’re less developed and less reliant on imports.
@anasaltikriti was being interviewed by @DillyHussain88 on this issue.
⚛️snapetzy.cosmos retweeted
ELECTRUM BITCOIN WALLET CONFIRMS CRITICAL SECURITY VULNERABILITY EXPLOITED IN THE WILD
Electrum has disclosed a high-severity vulnerability allowing malicious servers to trick users into sending Bitcoin to an attacker when increasing a transaction fee.
The attack works by intercepting a broadcast transaction and replacing it in the wallet’s history with a fake transaction redirecting funds to an attacker-controlled address.
If the user attempts to increase the fee using Replace-by-Fee (RBF), Electrum can sign the malicious transaction, sending the Bitcoin to the attacker.
Electrum confirmed two reported incidents, including one user who lost funds. Attackers even generated addresses matching the last four characters of the intended recipient’s address.
The vulnerability affects versions before 4.8.3 and has been patched in the latest release.
Users are urged to update immediately and verify all destination addresses and amounts before signing transactions.
Vulnerability disclosure: github.com/spesmilo/electrum…
⚛️snapetzy.cosmos retweeted
Bitcoin explained in 10 sentences.
1. To understand Bitcoin, you first have to understand the problem it solves: money controlled by people.
2. There is a money-power paradox: if someone has the power to control the money, someone has the power to corrupt it.
3. Every form of money before Bitcoin had a central seat where someone could control the money, and because of that, every form of money became corrupted, including today's money, which is controlled by governments and central banks, which enables them to create money out of thin air and destroy the purchasing power of your money.
4. Bitcoin is a new monetary system designed to remove that central seat of power and stop monetary corruption once and for all.
5. Satoshi Nakamoto, the creator of Bitcoin, saw the corruption of money as a *trust* problem; we must trust central banks and governments not to manipulate the money, but the history of their system is filled with breaches of that trust.
6. Satoshi's solution was simple: instead of relying on trust to run the money system, use proof.
7. Instead of trusting one central authority, like a bank or government, to make sure the system is running properly, Bitcoin spreads that job across thousands and thousands of computers around the world: participants use proof to demonstrate that they are following the rules, and each computer independently verifies that proof, only accepting activity that follows Bitcoin's rules and rejecting anything that doesn't.
8. The result is a monetary system where no single person, government, or institution can control and manipulate the money, because the power to enforce the rules is spread across the entire network rather than concentrated into one authority, and because nobody can get away with breaking the rules -- nobody can just appear at a press conference and claim that what they're doing is legitimate -- rather, they must provide proof that their work is legitimate, and the entire global network is always checking that their proof-of-work follows the rules.
9. Think about what this means: for thousands of years, humanity has lived in a world where the people controlling the money could change the rules of the game to benefit themselves, while everyone else had to deal with the consequences.
10. Imagine what would happen if we had a money system where everyone played by the same rules, where everyone HAD to be honest in order to participate, and where that reality could not be manipulated.
That's Bitcoin.
⚛️snapetzy.cosmos retweeted
The world is preparing for the internet to SHUT DOWN.
Yesterday, the UK government urged households to keep 3 days of food, water and cash at home.
Among the risks are CYBERATTACKS that could disrupt power, internet access and card payments.
And this week showed how quickly that can happen.
As news of critical PHP flaws spread, attempts to exploit them climbed into the MILLIONS.
Several websites gone dark while they worked to secure them.
Now imagine a wider outage affecting several essential services at once.
You’re buying groceries, but the checkout can’t process your card.
You try withdrawing cash, but the ATM is offline.
Your rent is due, but your banking app won’t load.
You need medication, but the pharmacy can’t access your prescription.
You arrive for surgery, but the hospital’s systems are down.
You’re stranded at the airport because your airline can’t check you in.
You log in for work, but your company’s systems are locked.
You try calling your family, but the mobile network is down.
These are ALL possible consequences of major outages.
Your own phone or laptop doesn’t have to be hacked for you to feel the impact.
The services you depend on just have to stop working.
Prepare while everything still works.
⚛️snapetzy.cosmos retweeted
⚡️ADOPTION: Singapore, Malaysia and Thailand's central banks expand cross-border STABLECOIN initiatives with Ripple, Visa and Mastercard.
The move brings stablecoin settlement efforts to three Southeast Asian markets with a combined population of 111 MILLION people.
Circle, Coinbase, JPMorgan and Stripe are also involved.
