Poloniex got hacked. And it just didn't get hacked it has major funds being stolen. And those who are following the crypto market for last few years can guage from the title that the hack was kind of sponsored in the first place and those who know the pattern knows who that is.
We often don't name the person of TRON chain here. And rightfully so. That guy is the reason people have to move on to create Hive and also it turns out the massive price pumping happens due to actions of this person. And so we kind of figure out who did the hack in first place.
This time there is new means to clear out the blame and also try to appear like the angel. The guy has made the announcement of the 5% white hat hacker bounty. This would change the way people point fingers at this rich boy.
Let's talk about how this hack is likely to be happening and how the names are cleared and how the cover up is made.
TRX and STEEM is pumping
For those who have the idea of the TRX and the STEEM can check out the market prices since last week. And they can figure out how the prices are rising since last few weeks. And how the minute change in the price is kind of benefiting certain exchanges, that includes Poloniex.
TRX specifically has jumped to 0.106 which is kind of odd that this is rising. Despite the hack the people who are finding it harder to believe how the price can rise to such a point. How come hack benefits the price of these coins? Nobody asks. Nobody knows.
White hat Bounty? Oh the Image Management!
So basically rich people take out the funds out of the crypto. And then they call it hacked. This has been the pattern with the SBF in FTX case and for this they got the jail term. And we know many other exchanges who got in similar pattern like Mt.Gox and many others.
But this time the rich guy has came out asking for the hacker to give back the funds. And this way they want to offer 5 percent reward for the hack they found in the exchange accounts. Which is kind of like asking the mafia to give back the funds they stolen from you in exchange for 5 percent white hat adjustment.
What is with hacks before going bankruptcy?
None of us live in the 1990 or 2010 and we all know that these days hackers and the crackers are sponsored by the rich. So that they can build the infrastructures to act like antivirus company, or get out of debt, or claim the insurance and so on. There are ways rich people use the hack in their favor.
Imagine millions and trillions get stolen and you get out being a bankrupt and also get to push the responsibility on others. None of your life changes and none of the issues happen with your lifestyle. So how come people would believe the rich people feeling the pain of hacks of their products? I don't buy it.
Offering the bounty to the hacker kind of proves one is trying to bring out some positive image out in the market. It's like you clean the floor just in case mother finds out you spilled milk on it and then you ask mother to check how clean the floor is. Such tricks kind of shows the hack was sponsored and intentional. It's not easy to maintain rich lifestyle in this inflation, we the crypto investors get that.