{"id":5233,"date":"2023-10-12T09:52:06","date_gmt":"2023-10-12T09:52:06","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=5233"},"modified":"2023-10-12T09:52:06","modified_gmt":"2023-10-12T09:52:06","slug":"alameda-research-lost-190-million-dollars-to-hackers","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/","title":{"rendered":"Alameda Research Lost 190 Million Dollars to Hackers!"},"content":{"rendered":"

Alameda Research<\/strong>\u00a0former employee claims that at one point they lost 100 million dollars<\/strong> after a trader clicked on a phishing link.<\/p>\n

This incident isn’t the sole occurrence where the company, with Sam Bankman-Fried as a founding partner, experienced deception and suffered losses in the millions of dollars.<\/p>\n

In a statement by Alameda Research\u2019s<\/strong> software engineer at X<\/strong>, Bankman-Fried<\/strong> \u201cbelieved that the most important thing for a startup like Alameda was to be able to move very, very quickly, so much so that he decided to ignore engineering and accounting practices that are standard in technology companies and financial companies.\u201d<\/p>\n

The former Alameda software engineer recently shared what was going on in the company on various social media accounts. The latest details came after former Alameda Research CEO Caroline Ellison<\/strong> stated in New York Court that Bankman-Fried<\/strong> ordered her to commit a crime.<\/p>\n

\n

You might like: What\u2019s Happening with Bitcoin and DXY?<\/strong><\/a><\/p><\/blockquote>\n

\n

SBF\u2019s Fast Pace<\/h2>\n

Baradwaj<\/strong> added that keeping up with SBF\u2019s fast pace meant \u201calmost never conducting code tests and lacking balance accounting.”<\/p>\n

\u201cSecurity checks for trading would only be added when needed, blockchain<\/strong> private keys and change API<\/strong> keys were stored as plain text in a file accessible by a few employees.\u201d<\/p>\n

Baradwaj’s estimate is that the company lost at least 190 million dollars.<\/strong> <\/em><\/p>\n

In the first example, Baradwaj<\/strong> said a trader “fell victim to phishing by accidentally clicking on a fake link while trying to complete a DeFi<\/strong> transaction” which resulted in a 100<\/strong> million dollar<\/strong> loss. He also said in another incident, a yield farm creator held funds hostage with the aim of defrauding Alameda, costing them 40 million dollars<\/strong>.<\/p>\n

Lastly, Baradwaj<\/strong> said that following the leak of an old version of Alameda’s “plaintext keys file”, an attacker was “able to transfer funds from some exchanges and place bad orders”, resulting in a loss of 50 million dollars<\/strong>.<\/p>\n

\n

You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don\u2019t forget to follow us on our\u00a0Telegram<\/strong>,<\/a>YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Alameda Research\u00a0former employee claims that at one point they lost 100 million dollars after a trader clicked on a phishing link. This incident isn’t the sole occurrence where the company, with Sam Bankman-Fried as a founding partner, experienced deception and suffered losses in the millions of dollars. In a statement by Alameda Research\u2019s software engineer<\/p>\n","protected":false},"author":2,"featured_media":5232,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[1857,1950,192,93,496,1282],"class_list":["post-5233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-alameda-research","tag-api","tag-blockchain","tag-defi","tag-ftx","tag-sbf"],"yoast_head":"\nAlameda Research Lost 190 Million Dollars to Hackers! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Alameda Research\u00a0former employee claims that at one point they lost 100 million dollars after a trader clicked on a phishing link.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alameda Research Lost 190 Million Dollars to Hackers! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Alameda Research\u00a0former employee claims that at one point they lost 100 million dollars after a trader clicked on a phishing link.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-12T09:52:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-64.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Yunus Ta\u015fl\u0131\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yunus Ta\u015fl\u0131\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/\",\"name\":\"Alameda Research Lost 190 Million Dollars to Hackers! - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-64.jpg\",\"datePublished\":\"2023-10-12T09:52:06+00:00\",\"dateModified\":\"2023-10-12T09:52:06+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/3b5f1d8348693fca419229a65d8cf4b3\"},\"description\":\"Alameda Research\u00a0former employee claims that at one point they lost 100 million dollars after a trader clicked on a phishing link.\",\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-64.jpg\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-64.jpg\",\"width\":1200,\"height\":630,\"caption\":\"Alameda Research\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Alameda Research Lost 190 Million Dollars to Hackers!\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/3b5f1d8348693fca419229a65d8cf4b3\",\"name\":\"Yunus Ta\u015fl\u0131\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3b7beb9215ebe43d2161c0de485eca68dcd10a6de219f9f665ac51ab09ca8fad?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3b7beb9215ebe43d2161c0de485eca68dcd10a6de219f9f665ac51ab09ca8fad?s=96&d=mm&r=g\",\"caption\":\"Yunus Ta\u015fl\u0131\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/ceyunus\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Alameda Research Lost 190 Million Dollars to Hackers! - Coin Engineer","description":"Alameda Research\u00a0former employee claims that at one point they lost 100 million dollars after a trader clicked on a phishing link.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/","og_locale":"en_US","og_type":"article","og_title":"Alameda Research Lost 190 Million Dollars to Hackers! - Coin Engineer","og_description":"Alameda Research\u00a0former employee claims that at one point they lost 100 million dollars after a trader clicked on a phishing link.","og_url":"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/","og_site_name":"Coin Engineer","article_published_time":"2023-10-12T09:52:06+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-64.jpg","type":"image\/jpeg"}],"author":"Yunus Ta\u015fl\u0131","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Yunus Ta\u015fl\u0131","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/","url":"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/","name":"Alameda Research Lost 190 Million Dollars to Hackers! - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-64.jpg","datePublished":"2023-10-12T09:52:06+00:00","dateModified":"2023-10-12T09:52:06+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/3b5f1d8348693fca419229a65d8cf4b3"},"description":"Alameda Research\u00a0former employee claims that at one point they lost 100 million dollars after a trader clicked on a phishing link.","breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-64.jpg","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/10\/tempory-64.jpg","width":1200,"height":630,"caption":"Alameda Research"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/alameda-research-lost-190-million-dollars-to-hackers\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"Alameda Research Lost 190 Million Dollars to Hackers!"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/3b5f1d8348693fca419229a65d8cf4b3","name":"Yunus Ta\u015fl\u0131","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3b7beb9215ebe43d2161c0de485eca68dcd10a6de219f9f665ac51ab09ca8fad?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3b7beb9215ebe43d2161c0de485eca68dcd10a6de219f9f665ac51ab09ca8fad?s=96&d=mm&r=g","caption":"Yunus Ta\u015fl\u0131"},"url":"https:\/\/coinengineer.net\/blog\/author\/ceyunus\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/5233","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=5233"}],"version-history":[{"count":3,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/5233\/revisions"}],"predecessor-version":[{"id":5236,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/5233\/revisions\/5236"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/5232"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=5233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=5233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=5233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}