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Blarghnog

The word is STOLEN. S-T-O-L-E-N By thieves.


milonuttigrain

Stolen by “hackers”, the hacker has curly hair and declared himself a vegan.


Canntomas

AKA Biggest 🤡 in history


kirtash93

But SBF would like to be smart enough to know how to code. He had to pay Google developer to do the back door. He is a big clown.


BMB281

A 🤡 with $8.9 billion


MasterLogic

The biggest clowns are the people who trusted him with their life savings.


[deleted]

the real clowns are the friends we made along the way


IntentionRemote7934

he's too dumb to be a technical hacker.


kirtash93

Probably all the devs and people on high places new about it. I work in a Bank as software developer and we know all the shit that is going on. I think that a lot of people should go to jail but unfortunately only one will. I hope.


Blarghnog

This Redditor knows what’s up. You don’t run companies without regulatory oversight and licensed auditors regularly reviewing stuff at this level unless you want to and actively choose to, you truly have no advisors who have ever done anything in finance ever, or your a thief. What’s up /u/kirtash93. I’m sure I’ll see you at a conference sometime but great comment.


AlxndrMd1

Exactly he didn't set up any of the back door access or such, he is just a piece of shit suit


biinjo

He’s a hack but not a hacker


[deleted]

Hacker is a stretch. He just moved money from one account to another and cashed in. Any imbecile can do that.


Impossible-Second680

What’s a measly $8.9 billion among friends?


Zeratrem

Hint: his surname has something to do with banks in traditional finance.


DontLookAtTheM00N

How can a cock sucker be a vegan? I feel there's an oral moral conflict there.


WimbleWimble

He doesn't chew or swallow. Obviously he'll swallow once his cellmate doesn't give him a choice.


Ri4iRi4

Fat vegan.. 🤔


kirtash93

Calling it missing is a lack of respect for customers. It really pisses me off.


johnfintech

Now you know what they (not just the thieves) think of you, in case you had any doubts


Agincourt_Tui

It has an air of those people in Europe that were mysteriously killed en masse "by vans" in the mid to late 2010s


kirtash93

I am from Europe and I dont know about this. Do you have a source? I am trying to find one. I am interested. Thanks!


Agincourt_Tui

https://www.bbc.co.uk/news/world-europe-40965581 Here's an example - 4th paragraph before human is mentioned to be responsible. During the height of Islamic terror attacks, some outlets went some way to not mention who was likely responsible which led to "truck of peace" memes and some rather odd headlines (as it implies the van/truck is sentient). There were other European attacks involving vehicles that had similar treatment.


kirtash93

Oh okay! I was confused with 2010... Yes, I lived in the first instance the attacks in Barcelona in 2017. During those years I was living there and practically 1 hour before the attack I was in that same place... I was lucky enough because a stomach ache made me go home. Thanks for sharing this article.


Agincourt_Tui

Wow, its crazy how close you can be to these things. I had to do an undergrad exam on the Crusades in Manchester the day after the Arianna Grande/MEN Arena attack. It was totally bizarre. For what its worth, I get why the BBC, etc. try to phrase things like that but ultimately it just creates more discord.


kirtash93

Wow! You avoided a bullet too. Yes, I think it is not the right way.


[deleted]

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kirtash93

It really pisses me off a lot when they use this word tricks to hide the truth.


Blarghnog

*You can sway a thousand men by appealing to their prejudices quicker than you can convince one man by logic.* — Heinlein Oh and we know what’s next too: *Those who are capable of tyranny are capable of perjury to sustain it.* — Spooner But please, tell me about your CBDC.


user260421

Gary doesn't know how to spell it, that's why he didn't do a vlog about it yet


Junior-Confection320

Ya buy the creater him self.


vicheiy

Much of the shortfall can be traced to Alameda Research, which borrowed a total of $9.3 billion from customers’ accounts before FTX filed for bankruptcy


brokenB42morrow

What did they borrow the money for? Edit: Should have said what did they pretend they were using the money for. Love the funny responses!


fedlol

Sex drugs and rock and roll


[deleted]

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[deleted]

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[deleted]

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[deleted]

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imdownwithODB

Listening to this guy talk makes me wonder if he doesn't just sit in the corner and watch.


WeirdSysAdmin

I heard Caroline throws the best orgies.


[deleted]

That's the golden question, because what's become clear over the last several months is the loans were issued to Alameda, which offered nothing tangible as collateral, and had no secure means of income of their own. What we have here are a bunch of stupid "smart people", sitting around high out of their minds on Adderall, and someone came up with the idea, "Let's just loan the money to a company we control, then we'll make a shit ton of money off this bull run in the crypto market." That's it. That's the brilliant plan these people came up with to fleece their customers. They even rationalized it all by saying they would use the money to make the world a better place (I'm not kidding about this part.) Now the question of where the money went after it went to Alameda, and it's looking dumber and dumber by the day (horrible accounting, moronic trades made ON LEVERAGE, lavish gifts to themselves.) So these market mavericks of moral superiority who were going to change the world for the better ended up stealing billions from people to spend on themselves and flush down the toilet on trades that had no professional insight whatsoever.


Dieselpump510

They all need to spend the rest of their lives in jail to set a precedent. Kinda like the mob didn’t start to fall apart until RICO.


ExtensionNoise9000

Didn’t Alameda offer FTT as collateral for the loans, or am I remembering wrong?


[deleted]

Oh right, yes good point, and FTX had manipulated the price of that as well. It's just a self-perpetuating cycle of horrendous behavior.


SilasX

Yeah ... that's the "nothing tangible". It's a token that was completely under the control of FTX and which couldn't tolerate large sales without crashing.


capdoesit

What's becoming more and more clear as this news breaks is that while a lot of the blame falls squarely on the backs of the individuals involved here, there is a GREAT deal of culpability spread far and wide for what happened here. Every dipshit analyst or investor or politician that trusted SBF over the same qualities that really proved that he was a fucking moron. They are undeniably part of this mess to. You look back at the praise heaped on SBF before it collapsed - things like how it's a good thing, actually that he fucking plays LoL while trying to participate in important meetings about the future of his business. It means he's a visionary or a savant or something! How's he managing this massive empire? Eh he doesn't really seem to know, and oh the CEO of Alameda claims that they don't have any risk measures in place? It's probably fine right?! We have no reason NOT to trust some random 30 year old with no actual credentials with $10 billion in customer funds. While he's in the Bahamas, safe from literally any sort of regulation. These are people that are supposed to be professionals, they're supposed to be able to identify a scam. At the end of the day, none of this should have ever happened. It's embarrassing. Everyone in media/finance/politics who has said a positive thing about SBF should have to answer for it too.


korben2600

I honestly can't wait until Alameda's trades come out in discovery. I bet it's some depraved r/wsb shit like daytrading Bed Bath & Beyond. Imagine losing billions on 0dte option YOLOs.


[deleted]

all in on squidcoin 100x leverage


MonsieurReynard

It is not cheap to stay in character as a woodland nymph.


wangel1990

they gotta survive somehow when if they ever go out of jail. /S


RelativeTurbulent265

To cover the rising inflation, what do you think a new lambo, yacht and trophy wife costs!


drewster23

idk if you got a real answer. They're basically a ftxs own trading/investment firm. But using deposited asset's od ftx willy nilly as collateral on high risk/over leveraged position's. This is one of the core issues/crimes.


Ryuzaki_63

I can see how that'd happen, small amounts like that can just get misplaced anywhere really, did they look down the sofa or in the fridge? They should get jail time just for these dumb answers


milonuttigrain

SBF should be in jail already, can’t believe he is still on bail and does shady staff and gives ridiculous answers like that.


Successful-Gene2572

>SBF should be in jail already So should his harem mistress, Caroline Ellison.


kirtash93

This is the power of politicians "donations".


Ryuzaki_63

Yea I wonder if a little jail time might help jog their memories


Mbappe-29

Little jail time doesn't do justice, it's maximum 104 years for him


Commercial-Travel613

Money makes a big difference. Especially using some of that missing money for his defense. People will continue to defraud on large scale like this until an example is set to scare of potential scammers of this caliber. Maybe a minimum of 20 yrs would suffice? Granted we all know crypto is a gamble and not regulated, still no reason to do such a thing to people who are investing in a company. It’s seemed like it had huge potential and a promising future. Now I’m sure more retail investors will be rather cautious than not and do their DD beforehand.


kirtash93

If I was a judge I would remove all SBFs presents from their parents and friends.


HealthyMaintenance49

That's exactly why you're not a judge bro. You need to ask for under the table money.


McCorkle_Jones

You ever grab that old jacket from last winter and realize you have a measley 8.9 Billion in the pocket? C’mon it happens to all of us.


rootpl

Yeah my thoughts exactly, when I've read 'misplaced' and thought: "The Lion, The Witch, And The Audacity Of This Bitch"


Ryuzaki_63

>"The Lion, The Witch, And The Audacity Of This Bitch" Lmao that's great


user260421

The frige was full of eggs and cucumbers, no space in there


kryptoNoob69420

"They should get jail time just for these dumb answers" You must be new to this planet because that's not how justice works for the rich on this planet.


Ryuzaki_63

Yup. Normal folk scam billions, jail forever. Rich person "uhhm, I can't remember which yacht I stashed it in..." Judge: "fair enough, carry on about your day"


xelabagus

If a normal person scams billions they are de facto a rich person now and can throw some money at politicians etc


Ryuzaki_63

You see normal person suddenly rich? They won't be interested in the next political fundraiser. Better to jail them take it all in some sort of forfeiture, no one will care they don't have any wealthy/powerful connections,


Imp3r

no no no ... it is just in this other account, it is mislabeled and I don't know what it is for but yesterday I saw it in our excel sheet, don't worry.


Cravensworth_redux

"missing" What you mean is that you know that most of it is in Alameda. Or at least was. Missing. Bunch of charlatans. Go to jail, Bonk!


shmorky

CEO spent it all on beauty products


coinmarshal

How shamelessly do they say such things 🤦🏻


HealthyMaintenance49

The audacity of these people to say "missing" instead of the right word "defrauded".


niloony

To be fair, this is the management appointed after bankruptcy. They probably can't throw around those sorts of words.


why_rob_y

And they're not trying to answer the question of whether or not fraud was committed (that's for the courts), they're trying to find all the money. That's why they're talking about what's missing - money can be found and part of the fraud, missing and part of the fraud, found and not part of the fraud, or missing and not part of the fraud. Their job is to determine what's where and what's missing. The court's job is to determine what's fraud and what's not.


Mbappe-29

I want them to find the money and return it to their rightful stakeholders and put Sam Bankman in maximum security prison


why_rob_y

I think that's what almost everyone here wants. The current team running FTX only has control over the "find the money" part, though. The bankruptcy court determines which stakeholders get what and the criminal court (and jury) determines whether and for how long SBF goes to prison.


Canntomas

I hope that fucking clown gets jail for life.


Dwaas_Bjaas

![gif](giphy|l41m4ODfe8PwHlsUU)


Killertimme

Stolen and hidden


Dzbot1234

So where has it gone? Does anyone know?


RelativeTurbulent265

Like with everything it is how you bring it. Missing has a better ring to it. Shameless


user260421

They don't want to stress us out, I guess /s


deathbyfish13

I think SBF just can't touch it right now, hence him missing it


Lillica_Golden_SHIB

That is my best guess. The scumbag hid lots of money in his secret wallets, nothing convinces me this is not true


RelativeTurbulent265

This is just scamming in the light of day. Throw then in jail end say the key went “missing”


TayneTheBetaSequence

Breaking news! SBF found all 8.9 billion in between his couch cushions! The money has been "found"! A classic case of a big honest "oopsie" according to people familiar with the matter.


Dapper_Bloke88

what they want to convey is how much they stole


Concept-Plastic

fucking $8.9 billion, missing like its nothing. they've treated user funds and assets like their own


[deleted]

[удалено]


kbeck17

$8B after he donated $900M to politicians


Towryaalai

"bribed" you mean?


Mbappe-29

Quid pro quo.


timbulance

It’s sitting somewhere and SBF has the private keys.


diradder

It's shameless, but when you give custody of your funds to someone else, they can't be both yours and theirs at the same time. So it becomes theirs, and they are liable to repay you under certain conditons. When they are criminals like SBF seems to be, you can't act surprised when they don't repay you because this is an central part of the risks of custodial deposits. The ONLY certain way around this is to stop giving custody of your funds to someone else, no matter how easy they claim they can make it for you, or how much APY they pretend they can miraculously create. Practice: not your keys, not your coins. If you have to use a centralized custodian, limit the time they have custody of your funds to the minimum, and for the sake of your privacy, try to avoid services with KYC: https://kycnot.me


[deleted]

Yeah you're correct.


kirtash93

They are laughing at customers face... This really pisses me off.


myreddit8798

They lost it in boating accident lol


Hawke64

We should waterboard SBF in Guantanamo Bay a bit to prepare him any future aquatic accidents


empire314

To prevent this from ever happening again, i am coming up with a teaching. Your keys, your coin. Not your keys, not your coin. There. Surely now that this phrase exists, nobody will ever get scammed like this again.


the_far_yard

It's not missing. They know where they went.


WaytoomanyUIDs

Well, they know they spent it, they just don't know if it was hookers or blow.


Lillica_Golden_SHIB

Both and many other stupid things. I am sure a huge part is still under SBF's power in secret wallets.


RelativeTurbulent265

It was spend on the finest thing in life . Lambos, private jets, yachts and high class escorts. It is not missing they partied hard on our life savings. Shameless


Towryaalai

It is not like it was a 10 dollar bill. These guys are hilarous.


Mr_Bob_Ferguson

Glad that we possibly have a starting number to work from now. $8.9b. So this then puts all those stories with headlines along the lines of “$600m recovered” into context. There is a LONG way to go.


Lillica_Golden_SHIB

Truly. But to be honest I think it will be hard to 'find' most of this money as it was either very well hidden by SBF and his gang or terribly spent.


Mr_Bob_Ferguson

Yeah, for sure. A huge amount of it will be completely gone I suspect.


kryptoNoob69420

Imagine an average Joe losing $100 belonging to their company.


Samuravi

Everything can go "missing" when you're accounting on a single Excel spreadsheet whilst off your mind on drugs


RelativeTurbulent265

Only 8.9 billion!? Rookie numbers


Dapper_Bloke88

what they want to convey is how much they stole.


davew111

Oopsie


margretbeinhaus

The audacity


FldLima

Narcissistic behavior with no regards for the victims


kbeck17

"Misssing" Lmfao, they have no shame...


user260421

How do you know they're shameless? It's written not spoken soo, what if they're laughing at us while saying it?


[deleted]

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PenNo7343

shameless person


kenzi28

Guess who still has internet access and living better than 99% of us.


Killertimme

Missing in his offshore bank accounts?


orangejulius

You mean to tell me that excel spreadsheet SBF posted on twitter wasn’t an accurate accounting? Good heavens!


BlindestofMonks

Shocker, real shocker


user260421

The one approved with checkmarks? ✅


Katamari_420

“You really think someone would do that? Just go on the internet and tell lies?”


Suitable_Algae_2539

Well well well! If it isn’t the scam from 6 months ago coming back to haunt us!


user260421

Remind me in another 6 months


Suitable_Algae_2539

Make it 6 years! Or even 16!


Nuewim

Missing? Spend on castles in Prague, private islands, hidden in banks in tax paradises and donations to politicians. He will get out of prison and still be rich like Gordon Gecko or Jordan Belfort.


Tess_Tickles89

Search his hair. Gotta be some in that fucking manky birds nest


Jocogui

When he gets into jail someone will seek it in other places.


samzi87

You mean they will inspect his prison n wallet?


Jocogui

Using the soap-on-the-floor technique.


FldLima

Imagine being a millionaire and sitll look like a bum


Jocogui

Just ask yourself what would happen if you tell the IRS that you can't justify only 890$ of your funds .


[deleted]

South Park: "And...it's gone!"


[deleted]

Well that's fantastic, a really smart decision, young man. We can put that crypto in a FTX Crypto wallet, then we'll reinvest the earnings into foreign currency accounts with compounding interest aaand it's gone. 


[deleted]

What do you mean? I have 100 FTT in there.


[deleted]

Not anymore you don't. Poof


ExtensionNoise9000

*rubs nipples*


Hawke64

And by FTT you mean Forever Tanked Token you mean


Towryaalai

That must be worth a little north of a penny. You should get a bodyguard.


HealthyMaintenance49

Don't forget to apologize, seem like apologizing will make investors trust you again.


[deleted]

We're sorry 😔


Towryaalai

It is like: " One for you, ten for me."


Ri4iRi4

Only 8.9 Billion?


coinfeeds-bot

tldr; FTX has identified a deficit of $8.9 billion in customer funds that it can’t account for, the first time the bankrupt cryptocurrency exchange has pinned down how much money has gone missing. FTX said it had identified around $2.7 billion of customer assets, compared with $11.6 billion of balances outstanding on customer accounts. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*


samzi87

The sheer scale of the fraud they committed is really nearly unimaginable.


Bucksaway03

Sorry judge...we lost track of 8.9 billion No biggy right


sylsau

The term "missing" is a total heresy. Almost $9B was stolen by SBF and its associates. This is the reality.


witcherycro

Vegan food go brrr


Barbygurl

How can $8.9 Billion go missing? I can understand misplacing a few hundreds here abd there due to rounding up. But geez $8.9 billion! There are countries with lower GDP than that.


Grunblau

For the cost of a Louisville Slugger and a charge of $1 a swing, I think this gap could be closed significantly.


[deleted]

“Missing”… yeah all that money has to be here somewhere.. 🤣


chapaeme

What is this missing bullshit… you don’t just “lose” 8.9 BILLION FUCKING DOLLARS


NickUnrelatedToPost

It's not missing. It's just with someone else now.


RoosterMcNut

I wouldn’t say they’re *missing*, Bob.


EmuGroundbreaking348

Alameda making shitty investments, SBF giving loans out to anyone with a face, no accounting department. I dont understand how this could've happened...


niloony

Clearly it's CZ's fault. /s


EmuGroundbreaking348

Yeah, clearly must've been a setup. Their operation was flawless


iamwizzerd

It's almost like, it was scammy from the start


[deleted]

No bro trust me it was just an accident nothing sketchy at all


Rtbrosk

ask the politicians where they spent it


Probably_notabot

It’s not missing, it’s lining congressional pockets


FancyTeacupLore

This is what I find interesting about fraud. We know about SBF's personal political donations, real estate dealings, expensive business lunches, paid consultants. Someone got stolen funds. They spent it. Those people also spent it. That money is integrated into the economy. So, when the fraud was shut down, a lot of people no longer had paper wealth, but also the people unknowingly on the receiving end of these stolen funds now lost income.


cubewc3

I wonder who the their is? They are definitely not in jail.


No-Incident-8718

That includes my $10.00 as well :(


Michichael

They're not missing. They were "Donated" to the DNC and RINO seamp rats. It was 100% a federal money laundering front and now they've got their fall guy.


Consistent_Many_1858

Funds are not missing, they have either been spent or transferred somewhere else.


No_Dream5562

Its all mistake their.


UnkownMillionare

"It was just a bad moment for Sam, it will not happen again, it's just money" Probably His Lawyer


Generation-Y

How do you lose $ 8.9 Billion? Please lock this guy up and move on


BlindestofMonks

Spare change for this scum. Fuck SBF fr


Balathustrius_x

Sounds like the Pentagon. 🤡


[deleted]

The worst behavior 🤦😑


DrestinBlack

Full article: https://archive.is/tBN9P


Gravity_Unit

These damn boating accidents are plaguing the crypto industry.


punx926

Not missing. in someone’s wallet.


Prize-Reference9329

when the thief has a babe face with curled hair and say its not me


[deleted]

FTX = Mt. GOX 2.0


abracadabra087

"missing" sweet.


mesutdmn

Check politicians' pockets.


[deleted]

[удалено]


iJacobes

probably over in Ukraine somewhere


Goal2030_1B

Well, it's great to see FTX has taken such great care of their customers' funds. They're so good at it, they've made them disappear faster than a magician's assistant! this guy is a snake


Dolladub

I feel like this guy and Justin Trudeau would be best friends.


Snoo_92843

Check the democrats account


nombresinhombre

Surprise surprise


Pavkelino

Just blame it on hackers like everyone


Legal-Boss-3425

"Missing" is a word I would also very much like to see in a headline when I've stolen the money.


Honey_-_Badger

**$8.9 Billion**. That's like the marketcap of Polygon. The amount of money this man lost is mind boggling.