FTX: The Information Security Perspective
Considering the horrific information security practices FTX has exhibited, it's time to talk about the regulators, the CIA, the NSA, and the FBI.
I've been working in information security and cybersecurity and privacy for a long time, including assisting start-ups to be able to develop and deliver a product which they could get clients for. As service provider, you are required to go through many regulations, especially when it comes to the financial sector. You simply cannot sell a product if you cannot prove you have security, especially in the financial world, especially with all the 3rd party assurances requirements.
Therefore, reading the declaration of the new CEO of FTX, John J. Ray III, is SHOCKING as it describes total lack of any information security and/or #cybersecurity governance and/or controls and/or processes:
"Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here. From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented
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Unacceptable management practices included the use of an unsecured group email account as the root user to access confidential private keys and critically sensitive data for the FTX Group companies around the world, the absence of daily reconciliation of positions on the blockchain, the use of software to conceal the misuse of customer funds
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One of the most pervasive failures of the FTX.com business in particular is the absence of lasting records of decision-making. Mr. Bankman-Fried often communicated by using applications that were set to auto-delete after a short period of time, and encouraged employees to do the same."
Source: https://pacer-documents.s3.amazonaws.com/33/188450/042020648197.pdf )
WOW
How exactly did FTX managed to get any clients? Even the FTX "FTX TOKEN AUDIT" or as FTX called it "FTT security audit done by Blockchain Consilium" (see below for the link) is extremely limited according to those who wrote it and is worth zero without governance in place, which this company clearly didn't had.
https://drive.google.com/file/d/1g_DmOv8HD3PC8D3QqMjfOIdgm6E7LN5K/view
This is simply insane. A reminder - this company was endorsed by the market actors, world leaders, the media, the World Economic Forum; it was used to transfer money to Ukraine. This scam caused HUGE harm to people who lost their pension due to the pension funds investments. People lost their savings.
I do not see how this scam could have worked without heavy involvement of political powers. This is just unbelievable.
Where were the regulators ???
How can we trust our financial regulators who are pushing on us a CBDC if they failed to stop this? This does not seems to be reasonable, unless political actors gained from running this scam. Who signed of for the risks of working with this company? What the hell was going on here?
Again, I am speaking as someone who worked in financial institutes, who run and chaired information security risk committees, who set in non-financial risk committees. You can’t use a system like FTX without having risk assessed it, and there is no way financial or even governmental organizations would work with a company that has such crappy security practices.
#FTX carries all the hallmarks of a false flag operation.
The reason FTX was allowed to operate was political. I don't trust our politicians. They have an agenda. FTX is now used as an excuse to regulate the crypto market, with the government aim to see everything we do. FTX was under the CIA responsibility. You're telling me the CIA didn't know what was going on in The Bahamas? I am pretty sure they knew everything that was going on. So if the CIA knew, it is either the biggest failure of the CIA in decades. The FTX dirty bunch had zero ability to notice anything if they were secure, but since they had almost zero security practices it was probably easy job. Why? access and details on financial transactions and following players under their interest.
Why the FBI? Well, obvious, the financial activities of US citizens. What does it say that FBI agents raid the homes of mothers who peacefully protest at their schoolboard against the education agenda, but do NOTHING to look into such an important financial platform with so much of US citizen’s money going through it, where money to Ukraine is funnelled through?
That's before I even started to talk about the NSA information on these people. Their cybersecurity hygrine from what we saw were really bad, and for such a strategic source of information I am sure the NSA had access to everything.
I think everyone knew, and that FTX was making money for all the right people in the right places, and that's why it was not exposed for what it was.
So until now we have 3 agencies that could have and should have and most likely were involved here, which really makes me ask people: do you understand what is happening right now? Do you really understand what just happened with FTX?
If you want to hear more on the topic, with a video that show alleged evidence FTX Was a Deep State Plan to Capture Crypto.
Trust the truth, not people.
Ehden Biber
People that trust any financial entity need their heads read for starters. That applies to any fiat currency like any crypto scheme that is built on "trust". When will people realise that a computer-generated virtual coin is not real. It is no different to digital viruses and digital vaccines. People are suffering from digital hallucinations.