DAO HUB For Investors #12 – Who Is The DAO Attacker?

Tai Zen: This is Tai Zen, I got my buddy LeonFu.com on here and it’s been a while since we’ve had an opportunity to get together for broadcast because we’ve tried to research Steemit and several other new ICO coming out and new Cryptocurrencies coming out to invest in. But for some reason this DAO Hub attack stuff, this fiasco just won’t go away and it just keeps eating up and sucking up all our time instead of doing research and stuff that’s actually gonna help us make more money in Crypto.

And in this one, in this episode, we want to talk about the DAO attacker a lot of focus has been put on the DAO hub, the Slockit team, the Ethereum foundation, and everything, but no one’s actually talked about the DAO attacker. So this episode is for our viewers and just to help get a better understanding of the psychology and the mindset and the motivation and the purpose behind the DAO attacker.

We’re confident that he’s going to be listening on this, so we’re talking to you, Mr.DAO-Attacker. So here are some clues that we have gathered from my background involvement with the government and law enforcement and LeonFu.com background in software development and coding and the skill level it takes to pull off the DAO attack. So you want to start off with about being the insider.

Leon Fu: Well, there’s not that many people who know Ethereum well enough to have done what was done to the DAO. It’s just too new, really only a handful of people that had the ability to even do that.

Tai Zen: So it’s safe to say that it’s somebody that Vitalik would personally know.

Leon Fu: He doesn’t think there’s any more than 200 people in the whole world that could even have done that

Tai Zen: Because the programming language that Ethereum is coded in, is in solidity.

Leon Fu: Yes, and it’s a brand new language. You would have to know Ethereum on a very deep level. You actually have to be working on it on a daily basis.

Tai Zen: So somebody that’s a good coder, like yourself, even in iOS and iPhone apps and stuff, you can’t just went over and learned solidity for a week or 1 month or 3 months and then attack the DAO and steal successfully $60,000,000.

Leon Fu: I don’t think there are more than 100 people that even has the capability to do that. And out of those hundred people I don’t even think that no more than a few dozen would have even seen this bug unless it was pointed out to them.

Tai Zen: So it’s somebody that has to work on it on a regular basis.

Leon Fu: Because this code was reviewed by a lot of people that did work on this every day, members of the Ethereum.

Tai Zen: Just to give the audience an idea. For example, let’s pull 1 guy out, like Christopher, John, he wrote the entire Ethereum wallet client in C++ or something like that.

Leon Fu: We’re pretty certain that it somebody who’s very close to the Ethereum project foundation. And we’ve already said in our previous interviews, we don’t think it has to do with money because somebody that close to that already has a lot of money.

Tai Zen: Before we jumped to the motivation to do it, some people speculate that it’s the money. Let’s just finish up, let me share this story with you about the law enforcement that encounter. So I have a friend, he’s in federal prison right now and he’s doing either 24 or 30 years in federal prison for the biggest armored truck robbery in Finex Arizona, the state of Arizona.

And you know how they got to inside the armored truck because I don’t know if you’re familiar with this, but they have like 2 people on this particular armored truck that he was the driver. And so there are usually 2 people and usually, the way that it’s set up that the 2 people are separated so that you can’t like intimidate 1 person, I put a gun to 1 person’s head and get the other person to open the door to the armored truck.

There security issues to prevent, like in case the armored truck is on his route, it gets hijacked or something that even if you put a gun to 1 individual, 1 guards head, it requires 2 people or something like that to open up the safe, the lock inside the armored truck in order to get access to the money and stuff. So what happened was there was a deal where the lock was messed up inside the armored truck.

And my friend had made several attempts to let the armored truck company know that the lock is messed up and that if somebody was to get inside the driver’s compartment, that they can unlock pretty much the armored truck and get insight into all the money.

So in other words, they only have to subdue 1 person in order to get to the money instead of having to subdue 2 people. So the way that the army trucks are set up, the security for it, you needed to take control of both guards of that armored truck in order to get the money. But in his case, the armored truck was messed up right there.

The locking mechanism was messed up. So it only required that you subdue 1 person and you can get access to the money. So what happened was when they got arrested, the gang that hijacks that armored truck, by random luck or how it was, but they were able to hit this armored truck that had weak security and we get the money.

And so the FBI, when they investigated, the first thing that they look at is that who is the insider. So they investigate the driver, the passenger of that armored truck, investigate their family and everything because it’s like over 90% of the time it’s an inside job. The same thing with bank robberies, it’s an inside job.

So anything that happens like that, it’s usually an inside job. And they refuse to believe, they refuse to accept the fact that the lock was faulty. And so they blamed it on my friend, the driver.

And they said that he was the one who set up the whole armored truck heist and everything. So what happened was that they couldn’t figure out who the inside man was and it was just random luck that they got the army truck that had a faulty lock on it so they didn’t have to subdue both people.

So in order to make the case, they caught the armed robbers. The copy armed robbers and they got the arm robbers to cooperate with the federal government to snitch out my friend and accused him of being the ringleader. So they were the ones who robbed the truck and they turn around and accused my friend, the driver of being the ringleader and if you know this guy, he’s just incapable of doing something like this.

And so what happened is now he’s sitting in prison for like, 24, 30 years. And the other guys are all free on the streets now. The guys that actually did the robbery got away with it and pin it on my friend.

So the reason why I share this story with you is that the reason why they suspect that, and they plant all the evidence, they use all the older cases where they said that, hey, we can all these old army truck cases, I got robbed. It’s always the inside, either the passenger or the driver that provided the information to them.

So what happened was, even though in this case that was not the case, they still pinned it on him because the that actually did the robbers actually cooperated with the government and accused him of being the one that was the inside man. So because of that it all, they had all the evidence that they needed to convict my friend even though he was not part of it.

So in this particular case with the DAO attack, it’s definitely someone on the inside because only somebody that’s close to Vitalik and close to the project that’s would have known that there was a bug, there was a faulty lock mechanism. I’m just sharing that because most of the time when things like this happen, it’s an insider.

So let’s jump to the talk when you talk about the motivation when everybody thinks that the DAO attackers doing it for money. And we both agreed that there’s no way he’s doing this for money because if he’s an insider, he’s already gotten a part of the initial part of the Ethereum and he would have been in at the early stages.

Like you and I, we’re not even an insider and we came out with 4,000% or 5,000% Providence. So why wouldn’t the guy that’s part of the inside of the crew have an even bigger advantage? Plus he’s probably getting paid in the original ICO.

So the motivation that a lot of people say, that’s for money, I refuse to believers for money because here’s the reason why I’m going to give you some numbers. A lot of people say that the dumb ass is out there that don’t trade, they’re saying that the DAO attacker did it because he shorted Ethers on the exchange in order and then he crashed it so that he can make a ton of money on shorting the Ethers.

I have shorted Ethers multiple times just to do some testing so that when we broadcast it, we can talk about it with authenticity. And I can tell you this, as soon as I shorted it, I realized I made a huge mistake, and I tried to get out of that position as soon as I can.

It’s not like shorting the euro or the pound or the yen in the currency market, in the Forex market because when you short those, you’re using 50 to 1 leverage, and in European countries using 100 to 1 leverage. So the leverage in that allows you to get a huge percent profit if the move is correct. In other words, you’re betting that the currency is going to go downhill and because of the 50 to 1 leverage, which means that if you put up $1, the broker will let you trade with $50.

You put up $1 of your own money in the currency, the Forex broker will let you control up to $50 of currency in the US and up to $100 in Europe. So when you do that, it makes sense the shortage and the liquidity are so big in the currency in the Forex market that whenever you click buy or sell it, there’s no problems or no issues with the field.

But when you try to short Ethereum, it is forever to get filled, and on top of that, they only give you 2.5 to 1 margin. So here’s the problem, in case you’re new to Cryptocurrency shorting, here’s the problem with shorting even higher liquidity, a high volume Crypto such as Ethereum.

Let’s just say that you were 100% right on the short, and it goes all the way down to 0 and you make you cash out like 1 Satoshi before it hits 0 and you made the whole move on the way down. Guess what the best-case scenario is for your profit is?

So let’s say you short the best-case scenario is that you make 100% profit or you make the 2.5 times to 1, which is 250% profit. So that’s the absolute best-case scenario that you can get. Now if you’re an insider and you held onto Ethereum, it’s gone up at one point it was up over 70X, which is 7,000% profit.

How are you going to say that you’re going to make a lot of money by shorting it and make it a 100% to 250% profit when the upside potential, if you ask anybody that has any clue what any sense about Ethereum, if you ask him, hey do you think that Ethereum will fall and lose everything? First or the likelihood that you think will go to 0 or the likelihood that it will go 2 or 3 or 4 or 500% profit.

Leon Fu: So the hacker, if he is an insider, he has much more to gain by Ethereum going to 100 than going to 5.

Tai Zen: Exactly, so it doesn’t make sense. If you are not sure, just take a few Satoshi and goes short it on Ethereum, Poloniex and you’ll see what I’m talking about. It takes forever for it to make 50% or 25% or 50% profit.

Whereas if you go along on it right away, you can get like a 50% profit, like almost immediately. If there’s a spike up in pricing will be up 25%, 50% in no time. Whereas, when you showed it, it takes forever.

Leon Fu: So let’s talk about like the motivation. We understand the math that if we are correct and this guy wasn’t insider then if it’s about money, there’s more money to be made by the project succeeding than it is with the crash. So why do we think that he did this?

Tai Zen: So here’s a couple of things that I’m going to throw out there. One is that motivation is not a financial motivation. It’s about egos.

Leon Fu: And there have been reports of them accusing the team members have egomaniacs.

Tai Zen: So the term egomaniacs are thrown around a lot with the Ethereum team, you don’t see that with any of the other Cryptocurrency teams. You don’t see the term, the use of the word “egomaniacs” with any other Crypto team except for the Slock.its team and the Ethereum.

So it’s ego and if you had a profile, this individual that the DAO attacker, he is someone that is an introvert, he’s one of those people that is introvert and passive-aggressive. Somebody that instead of bringing it up to the forefront, they’ll attack you behind your back.

So they’re like a silent person and they probably suggested something in the development phase of Ethereum and the other team members did not recognize their contribution. And then instead of on top of it, they probably through salt on the wound instead of recognizing him for his contribution, they probably turn around and use it later on in the development phase and took credit for it.

So there’s some type of bad blood where it would force them to say that, it’s like screw you, and I’m going to show you that you ain’t about the sheet. Knock them down and meanwhile, they’re silently basking in the failure of the Ethereum.

And this DAO attacker does not need to be, he is somebody that is that wants to be recognized for his contribution to the Ethereum, but he’s also one of those people that also relishes and cherishes the fact that the other is failing at this.

So if there’s an ego issue where the DAO attacker is secretly attacking them and the entire Ethereum foundation, the Ethereum team, Vitalik, Slock.it team, everybody’s working to counter it and they’re unable to do it without Hard Fork.

Leon Fu: But here’s the thing, so we can think about what the motivation of the DAO attacker was, but what do we think about who the heck is supporting Ethereum classic now?

Tai Zen: Just 1 more thing about the DAO attack before we jumped to the support for Ethereum Classic. It’s also a 1 individual and it’s a guy, the DAO attacker if I had a profile him right, is a male and it is individual. It’s not a team like a, some people say the group, it’s one individual.

Because when I was dealing with the US law enforcement and the US government and the court systems and everything, I can tell you this, you cannot keep 2 people from shutting the fuck up. If 2 people know something, 1 of them is gonna snitch the other one out or tell say something to somebody else.

So the fact that the DAO attack has gone this long and we still don’t know who it is and we don’t know we don’t have a clue who it is, other than the clues that we provided in this episode, I mean the clues we provided this episode’s much more valid than most of garbage that you read on like Crypto coins, Bitcoin News, and Cryptocurrency news and all that other crap that they just slapped together without a real, thoughtful, logical thinking through it, and just clickbait.

Throughout the history of the US court system, any crime where they cannot find the criminal, it’s because it’s 1 person. Whenever there’s more than 1 person, it’s always the other person is going to snitch them out.

I knew a guy one time, he’s a drug dealer, he buried $2,000,000 in cash under the sidewalk in front of his house. When he built the house, he stashed $2,000,000 under the sidewalk in front of his house.

And he never in his fucking mind did he ever imagined that somebody would ever find it because he was the one who built the house and he was the one who dug the hole and put the $2,000,000 in cash in there and he was the one who put the concrete on top of it. So who else would possibly know about that?

Well, guess what he did, he only told one other person that he trusted in case something was to happen. And, that other person gave him up, and it was his own brother.

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