USE SEAL NINEONEONE

“The Lazarus Group, deposited, 228 or or sorry, $270,000,000, worth of, this wrapped, restaked ETH onto the Aave protocol. They get to withdraw $228,000,000 of, wrapped ETH. And now all of a sudden, you have a bunch of bad debt because there's a bunch of, tokens that don't actually exist that have been deposited and a bunch of real money that does exist, which has been taken out by a bad actor.”

“After this was actually withdrawn, and it started getting moved by, what we later discovered was the Lazarus Group, all of those tokens then moved onto, Thorchain or at least a significant portion of it once it was actually, taken out from from AVE. It was then taken and sort of, laundered, using Thorchain. And so when you get very large Thorchain deposits like that, it's very typical that these are, proceeds of a crime.”

“The second this hack happened, behind the scenes, they're coordinating with law enforcement. They're coordinating with all the bridges, all the all the people that they could. They're blocking UIs, this address from UIs. They're putting this address on all these lists. And, like, the infrastructure of c o nine one one is really the hero here. Like, I feel like the security council is getting a lot of credit for executing, but the the real execution happened to layer up, and it's c o nine one one.”

“We were able to use that same tactic and actually and and because if we wanted to give ourselves new rules or upgrade the the software of the Nord, we could do that... we can actually make a transaction on Ethereum. We have to wait fifteen minutes, and, and since the hacker wasn't able to move their funds in that fifteen minutes, that transaction went in, and it actually was able to send their funds from the the address they control to, an address that no one controls.”

“In this case, using, the restaked ETH token, via, KelpDAO, essentially, layer zero accused the Lazarus Group of exploiting their decentralized verifier, network, with the way of essentially faking withdrawals of restaked ETH on, Ethereum, which then caused restaked ETH to become undercollateralized. Obviously, then you have a bunch of this token that doesn't actually necessarily even exist. But according to this bridge, it does.”

“People right now are actually utilizing Arca monitoring these contracts on these, different platforms such as Aave, in order to then withdraw as soon as they receive an alert on chain that somebody's looking to deposit or has deposited... If you wanna mechanistically try to get your money out, you set an alert for any time a single dollar comes into the protocol so that you can be first in line to try to withdraw it.”

“This is a core tenant of blockchain technology that we just don't talk about. Blockchain technology is open, modifiable. It's it's it's, it's just code, right, running on servers and social consensus. And that social consensus piece is the thing that destroys the idea of immutability. It destroys the idea of, like, you know, complete, agency. I mean, it is it does have agency, but it's like, it can be persuaded.”

“I'll tell you. Rescuing funds is way easier than redistributing them. That is always the hardest part. ... I'm gonna be very interested in watching this conversation unfold because, yeah, we'll we'll we'll see what happens. ... the devil's really in the details of these things.”