North Korea Stole the 600 Mil from Axie Infinity

[Shreyas1]

Summary

 So it turns out it was the DPRK all along. 
 

I'll link the original thread of the hack:

 

Quotes

Quote

Through our investigation we were able to confirm Lazarus Group and APT38, cyber actors associated with the DPRK, are responsible for the theft of $620 million in Ethereum reported on March 29th," the FBI said in a statement. "DPRK" is an abbreviation for North Korea's official name, the Democratic People's Republic of Korea, and Ethereum is a technology platform associated with a type of cryptocurrency.

The FBI was referring to the recent hack of a computer network used by Axie Infinity, a video game that allows players to earn cryptocurrency. Sky Mavis, the company that created Axie Infinity, announced on March 29 that unidentified hackers had stolen the equivalent of roughly $600 million -- valued at the time of the hack's discovery -- on March 23 from a "bridge," or network that allows users to send cryptocurrency from one blockchain to another

 

My thoughts

 This 600 M will totally go towards improving lives in the regime /s. 
 

Unfortunately it seems that the one group that shouldn't have the money got it. Though not surprising, I'm sure it would have been easy pickings for a government funded group as compared to someone in a basement somewhere. 
t 

 

 

Sources

 https://www.google.com/amp/s/amp.cnn.com/cnn/2022/04/14/politics/fbi-north-korea-hackers-crypto/index.html

 

 

[da na]

Great, now the missiles the world dies to will have funny monkeys on them 

[poochyena]

They probably fund their entire government through stealing crypto. The stole $400 million in crypto last year

 

https://arstechnica.com/information-technology/2022/01/north-korean-hackers-stole-nearly-400-million-in-crypto-last-year/

[Shreyas1]

5 minutes ago, poochyena said:

They probably fund their entire government through stealing crypto. The stole $400 million in crypto last year

 

https://arstechnica.com/information-technology/2022/01/north-korean-hackers-stole-nearly-400-million-in-crypto-last-year/

Which makes this all the more crazier, because in one heist they have managed to steal more than they did in one year. 
 

And yeah, it probably makes up a considerable part of their budget to say the least 

[poochyena]

14 minutes ago, Shreyas1 said:

Which makes this all the more crazier, because in one heist they have managed to steal more than they did in one year. 
 

And yeah, it probably makes up a considerable part of their budget to say the least 

And remember, this is what we know publicly. They have likely stolen a lot more.

[TOMPPIX]

Why don't we just cut the under sea pipe to their internet?

[xtroria]

12 minutes ago, TOMPPIX said:

Why don't we just cut the under sea pipe to their internet?

Because korea is a land connected country to china

 

If you want decentralized currency, this is the kind of things you have yo deal with

[05032-Mendicant-Bias]

What to say... No honor amongst theives!

[leadeater]

4 hours ago, Shreyas1 said:

Unfortunately it seems that the one group that shouldn't have the money got it

Only one? 

 

Hmm why is it I can think of more than one?

 

4 hours ago, Shreyas1 said:

hack of a computer network used by Axie Infinity, a video game that allows players to earn cryptocurrency. Sky Mavis, the company that created Axie Infinity, announced on March 29 that unidentified hackers had stolen the equivalent of roughly $600 million -- valued at the time of the hack's discovery -- on March 23 from a "bridge," or network that allows users to send cryptocurrency from one blockchain to another

What? How many play this game? Damn that's a lot of money. Should I be playing this? Wow I'm so out of the loop lol.

[darknessblade]

3 hours ago, leadeater said:

What? How many play this game? Damn that's a lot of money. Should I be playing this? Wow I'm so out of the loop lol.

People don't play it because its fun, they play it because they hope they get that 100000000$ NFT

 

And since playing without money is super hard to do, and you would need at least 1 NFT to win.

Players who do not have a NFT already have a lower drop rate. thus the makers can still claim you can play for free. but the drop rate is 0.0000001% of what it normally is.

Thus they shill out a couple thousand for a NFT.

 

Influencers get a Expensive one, saying they minted it, not disclosing they gotten that one handed for free if they shill out to that game.

Thus people who are fan of said influencer also want in on the game, thinking they can play with their favorite "streamer"

 

If a NFT cost at least 2000$, all you need is 300000 suckers who fall for it to get to that 600M.

Also Assuming 50% of the NFT's are PRE-MINTED, in the owners their walled, so the most expensive ones NEVER come out on the market, which have a value of 75% of the total value of everything. the number of users drops to 75,000.

 

 

[leadeater]

23 minutes ago, darknessblade said:

People don't play it because its fun, they play it because they hope they get that 100000000$ NFT

 

And since playing without money is super hard to do, and you would need at least 1 NFT to win.

Players who do not have a NFT already have a lower drop rate. thus the makers can still claim you can play for free. but the drop rate is 0.0000001% of what it normally is.

Thus they shill out a couple thousand for a NFT.

 

Influencers get a Expensive one, saying they minted it, not disclosing they gotten that one handed for free if they shill out to that game.

Thus people who are fan of said influencer also want in on the game, thinking they can play with their favorite "streamer"

 

If a NFT cost at least 2000$, all you need is 300000 suckers who fall for it to get to that 600M.

Also Assuming 50% of the NFT's are PRE-MINTED, in the owners their walled, so the most expensive ones NEVER come out on the market, which have a value of 75% of the total value of everything. the number of users drops to 75,000.

So basically what you are saying is I need to make one of these games?  lol

 

P.S. I still don't know what the game is, what the game play is, or anything 

[Spotty]

You should take Pokemon out of the title, it has nothing to do with the Pokemon franchise.

[Lightwreather]

I'm sorry, but I don't think Axie has anything to do with Pokemon, in any way, shape or form.

[Shreyas1]

54 minutes ago, J-from-Nucleon said:

I'm sorry, but I don't think Axie has anything to do with Pokemon, in any way, shape or form.

 

1 hour ago, Spotty said:

You should take Pokemon out of the title, it has nothing to do with the Pokemon franchise.

Alright, done. There are some surface level similarities like breeding and collecting 'creatures', and I've seen other people describe it as a Pokémon game with NFTs

[Fasterthannothing]

That's gotta be like 5 years worth of funding in NK. Also I must admit it's kinda interesting they are using crypto to fund their government. 

[Fnige]

3 hours ago, leadeater said:

P.S. I still don't know what the game is, what the game play is, or anything 

Could this help?

https://joincolossus.com/research/axie_infinity.pdf

[CTR640]

13 hours ago, Mel0nMan said:

Great, now the missiles the world dies to will have funny monkeys on them 

What about real living funny monke with bare hands steering missiles?

[da na]

9 hours ago, TOMPPIX said:

Why don't we just cut the under sea pipe to their internet?

We did it boys, we solved war

[TetraSky]

If a country that barely has any internet users outside of the "government" (and is highly limited) is able to steal your crypto, that says a lot about the security(or lack thereof) behind these things.

[jagdtigger]

Couldnt care less, if someone dumb enough to waste money on imaginary crap its on them if they get screwed over....

[Shreyas1]

41 minutes ago, TetraSky said:

If a country that barely has any internet users outside of the "government" (and is highly limited) is able to steal your crypto, that says a lot about the security(or lack thereof) behind these things.

You'd be surprised how much effort they put into hacking things. 
 

https://www.google.com/amp/s/www.wired.com/2003/06/north-koreas-school-for-hackers/amp

 

https://www.google.com/amp/s/www.aljazeera.com/amp/features/2011/6/20/north-korea-recruits-hackers-at-school

 

they apparently have a school for it too. 

 

This group in particular might have also been behind the WannaCry attacks from a while back (though NK denies it), almost stole 1bn from Bangladesh, and lead cyber attacks on South Korean government:

 

https://en.m.wikipedia.org/wiki/Lazarus_Group

 

 

[05032-Mendicant-Bias]

14 hours ago, leadeater said:

Should I be playing this?

ALL "Play To Earn" games are unfun, grindy ponzi schemes. New players have a very expensive barrier of entry in the hundreds of bucks to play, and that money from new players is distributed to high ranking players and the company. In the Pump phase of the scheme, Axie Infinity allowed players in impoverished nation to gain lots of crypto, the downturn pushed the earning of even the highest ranking players below the minimum wage in the philippines. Here an analysis of the economy made during the Pump phase (we are well past the dump).

 

Sky Mavis is releasing a free to play version of Axie Infinity that give for free the "pokemon" not as nft, to train new players/workers and get a new batch of players buying in and a new pump phase. Which might as well work. In crypto there are no consequences for losing 600 millions of your clients money. If you really want, you can start there (I can't link it, as I find it deeply immoral).

 

I won't say you can't make money by buying into a Ponzi Scheme that has already popped once. Perhaps you can think of less risky ventures that yield more utility, like burning your cash in a bucket to warm yourself up.

10 hours ago, leadeater said:

So basically what you are saying is I need to make one of these games?

It's why there are tens of thousands of different blockchains. It's very, very profitable and low effort to transfer wealth from crypto investors promising that they'll be the early adopter. The most common way to do it is to buy a verified twitter account, change name, and recruit marks this way. You don't really need to even make the game, or you could clone a flash game from newground. The people that buy into this don't care about the content, they only care about "line goes up" as long as you promise that to enough people cheaply, chances are you can get an ROI. Take care, legislation is catching up, so you'll have to try and implement your promises not to get in trouble with the law.

 

9 hours ago, J-from-Nucleon said:

I'm sorry, but I don't think Axie has anything to do with Pokemon, in any way, shape or form.

I used "Pokemon" in the linked thread to give an instant idea of what the gameplay is. You have cute critters, the critters breed, and the critters fight. I agree Similarities end there. "Play To Earn" and "NFT" doom any chances the game has of being fun and not being grindy.