This is freaking me out a bit since I get third party pdfs all the time. I imagine if any one of the customers was compromised these pdfs could be carrying a payload.
PDF is a pretty complicated format. Parsers in general are pretty notoriously challenging to write securely, and the more complicated the format being parsed, the harder it gets.
There are some pretty effective techniques to mitigate that, but no silver bullets. Security is hard.
The “good” news is that these sorts of things are a well-known attack surface area, so vendors are being pretty aggressive about doing something about it.
Thrag
3812
This is an impressive level of failure.
JoshL
3814
Yeah, that’s boggling. They lost money shorting a coin that went from $100 to $0. That takes some serious skillz.
Tim_N
3815
On the way down it had some well-timed bounces to liquidate a whole lot of shorts each time. Exchanges know what they are doing, there is no sure-fire way to make money shorting or longing coins even if everyone knows what will ultimately happen to them (unless you use very small leverage or a tiny tadpole trader which I am guessing these people weren’t)
Yeah, shorting is hard, and paradoxically it doesn’t generally pay to be right early.
Tim_N
3817
Man, this comment hurts. I shorted btc when it was 42k back in mid-March. Got liquidated after it pumped to 47k, and we all know what happened after that…
Shorting bitcoin is fun, as you can make money and sleep soundly at night at the same time. When it works.
If you go from 100% risk to 99% risk, you have indeed minimized it.
One of my friends started posting about crypto in her Instagram story. I thought it was weird because she’s totally not the type. I thought I should warn her off, so I sent a message. The replies were clearly not her, didn’t sound like her one bit. So, I texted her asking “Are you really talking to me about crypto on Insta right now?” Turns out her account was stolen and the hacker is posting some sketch ass crypto app screenshots showing gains trading Ethereum and some other garbage tokens.
There is no legitimate use case for crypto. None. It is only used for fraud, crime, and scams. Reinforce this with everyone you care about. Anyone who says otherwise is an idiot or one of the scammers.
KevinC
3820
Who are the big players that are able to move the value of Bitcoin like this (referring to the big spike on the left side)?
We’re talking an instantaneous $700 jump in price. I see that sort of thing every now and then when looking at BTC so it had me curious.
Tether is the obvious one, but there are plenty of concentrated holdings.
Aceris
3822
It’s just weird isn’t it. Are these long term big HODLers trying to “buy the dip”? If so why not trickle their money in so they don’t lose $200 a unit straight away?
Or is the spike the point to force margin calls on specific short sellers? Given the story about the firm that lost money shorting Luna during the collapse I do wonder.
According to this site, there have been $285M in liquidations in the past 24 hours, so maybe.
If you’re trying to prop up the price you want to move the market, and you want to send a message that there’s someone out there willing to defend a price in volume. But for this particular move, who knows, could be a lot of motivations. I also haven’t looked at the trading activity to see if it even was a concentrated bid.
Lantz
3825
One thing to look at is the actual volume traded to get to that price. BTC doesn’t generally have that much liquidity in the markets so it often doesn’t take that much money (in terms of financial markets) to buy or btc to sell to push the price a few percent.
Thrag
3826
There’s a link to the suit. They outright call it a ponzi scheme in the filing. Also includes passages like this:
- The parties’ relationship began to break down when Stone discovered that not only did Defendants lack basic security controls to protect the billions of dollars in customers’ funds they held, but that they were actively using customer funds to manipulate crypto-asset markets to their benefit. The most egregious example of this was Plaintiff’s discovery that Celsius used customer bitcoin deposits to inflate its own crypto-asset called the “Celsius token” (“CEL”)
Finally someone involved calls the elephant in the room an elephant.
I am shocked, SHOCKED, that this was all a scam!
Thrag
3829
Suit is an interesting read. It’s partly the huge rise last year, rather than the more recent crash, that screwed Celsius due to their idiotic accounting practices.
