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Comment by dan-robertson | Hacker News Reader

Can you change the title of this submission to match the title of the post please? Normally people change titles when the original is sensationalised however the opposite is true in this case.

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Sounds like they only lost $661k worth, which is peanuts by comparison to most other crypto hacks/losses, probably didn't destroy the entire company since they're compensating their users, and not really worthy of the sensational title.

Apparently 95% of that money was by the company itself or employees of the company. So the loss for normal users is very limited.

source: https://twitter.com/OptifiLabs/status/1564367455220219904

I can take a box containing 1001 conkers, sell one to you for $1000, then claim that I have $1m in my bucket.

What was lost was not money, but electronic conkers of which a small number people paid real money for.

The currency was USDC, which is a stablecoin pegged at $1 by Circle (www.circle.com) who are generally held to be reputable, so it very much was real money.

It sounds like a bunch of people are going to pay for the cost to users of their own mistake out of their own pocket, so if they follow through with that we should probably applaud the move?

If they welch on it that’s another matter, but the stated time is tomorrow so…so far so good?

Tweet says 95% of the $661k funds belonged to a team member. It's unfortunate in any case.

https://twitter.com/OptifiLabs/status/1564367455220219904

Changed now. Submitted title was "Crypto Dev Enters Wrong Command, Destroys Entire Company"

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