Uneasy Money: The $388M Bitget Hack Started With a Security Vendor

Taylor Monahan ties the Bitget hack to North Korea and the crew asks why THORChain still avoids the scrutiny Tornado Cash got. ======================================================== Thank you to our sponsors! Visit 1inch to swap tokenized securities, crypto and more. Simple. Secure. Self-custodial. Whatever asset you’re buying - swap it at ⁠⁠⁠⁠⁠⁠http://unchainedcrypto.com/go/1inch-sn⁠⁠⁠⁠⁠⁠ ======================================================== Quick favor: We’re deciding what Unchained does next; new shows, stream times, what’s worth paying for. ⁠Our listener survey⁠ takes five minutes, it’s anonymous, and I read the write-in answers myself. Everyone who takes it can enter a drawing for a free year of Unchained Premium or Bits + Bips Premium. Open through Sunday, October 18. — Laura ======================================================== Attackers took $388 million from Bitget without ever getting its private keys. Opsek founder Pablo Sabbatella explains that the way in was a zero-day in a third-party security product the exchange relied on. Sabbatella, who now sits on Arbitrum's Security Council, joins Kain Warwick, Taylor Monahan, and Austin Griffith to trace the hack. Monahan attributes it to North Korea's TraderTraitor group and flags how fast the funds left Arbitrum, while the hosts ask why THORChain, which has halted its chain and reallocated balances before, still handles stolen funds. They also cover NEAR's SHIELD anomaly detection, reports of rogue AI agents hacking outside systems, whether retail should get the upside of a $2 trillion Anthropic IPO, and Vitalik Buterin's 2030 roadmap for Ethereum. Warwick's case: the harder the problem, the more superintelligence helps, and Ethereum is one of the hardest problems there is. Hosts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Kain Warwick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - Host of Uneasy Money and Founder of Infinex and Synthetix ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Taylor Monahan⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - Co-host of Uneasy Money and Security Expert ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Austin Griffith⁠⁠ - Co-host of Uneasy Money and Builder Enablement at Ethereum Foundation Guest: Pablo Sabbatella - Founder at Opsek Timestamps 🚨 02:32 How Bitget got hit for $388M and covered the losses 🛡️ 08:24 Why Pablo says a third-party security product was the way into Bitget 🕵️ 11:22 Taylor ties the hack to North Korea and highlights their rush to exit Arbitrum ❄️ 13:34 Pablo on why security councils restart the freeze debate every time ⛓️ 14:17 Why Kain says THORChain can't claim it's like Bitcoin and Ethereum 🧭 30:24 How NEAR's Shield blocks funds using behavioral anomaly detection 📣 34:51 1inch: See how 1inch Aqua lets LPs back multiple positions with one token balance at http://unchainedcrypto.com/go/1inch-yt 🤖 36:16 Rogue AI agents are hacking outside systems as the labs eye IPOs 🔓 39:11 Why Pablo thinks the AI labs want to regulate open-source models 📈 48:55 Kain's case for letting retail take the risk on a $2T Anthropic IPO 🧱 01:05:47 Why Kain calls Vitalik's 2030 roadmap the most bullish Ethereum read in years 🏪 01:19:18 Pablo asks whether Ethereum's real challenge is commercial, not technical Learn more about your ad choices. Visit megaphone.fm/adchoices