It's Sleuths vs Hacks, With Billions on the Line

09/19/22 • 16 min

This episode explores a sector of the crypto universe that’s actually booming.

Companies that specialize in finding vulnerabilities in crypto’s software infrastructure are flourishing. Why? Because crypto hacks and frauds are booming, with some estimates as high as $2bn in losses stemming from these attacks.

Bloomberg reporter Olga Kharif and senior editor Anna Irrera join me now for more about these crypto sleuths.

See omnystudio.com/listener for privacy information.

This episode explores a sector of the crypto universe that’s actually booming.

Bloomberg reporter Olga Kharif and senior editor Anna Irrera join me now for more about these crypto sleuths.

See omnystudio.com/listener for privacy information.

Previous Episode

Can ‘Sango Coin’ Catch On in the Central African Republic

By now you’ve probably heard that El Salvador became the first country in the world to adopt Bitcoin as legal tender in September of 2021. Did you know the Central African Republic made a similar move in April, becoming the first country in Africa to welcome a cryptocurrency to its sovereign ranks?

Cue almost immediate expressions of skepticism and concern from organizations like the International Monetary Fund, and the World Bank, to say nothing of internal disagreement and confusion within the country itself.

Why would a country with very low levels of access to electricity or the internet follow the path of a digital token? Who stands to benefit, and who stands to lose?

Joining this episode is Bloomberg reporter Katarina Höije.

See omnystudio.com/listener for privacy information.

Next Episode

Why Crypto Miners Are Moving to the Arctic Circle

Miners are on the move again, forever chasing that combination of abundant electricity for relatively low prices. This time, they’re heading north of the Arctic Circle. Sweden and Norway are home to some of the most abundant energy sources in the world: geothermal, wind, and hydro electricity.

These countries have increasingly become attractive to Bitcoin miners. But the combination of Russia’s invasion of Ukraine with rising inflation and environmental factors like drought, are curbing the availability of cheap electricity in these Nordic regions. Miners in some of these areas could even be regulated out of the market.

Bloomberg Editor Lars Paulsson joins this episode to discuss what’s happening in the region.

See omnystudio.com/listener for privacy information.

Bloomberg Crypto - It's Sleuths vs Hacks, With Billions on the Line

Transcript

Speaker 100:00:02.520

This is Bloomberg Crypto, a daily Bloomberg I heart podcast and I'm Stacy Marie Ishmael, managing editor of Crypto for Bloomberg News. It's Monday September. Today will explore a sector of the crypto universe that's booming. Companies that specialize in finding vulnerabilities in software and code are flourishing. Why? Because crypto hacks and frauds are themselves booming, with some estimates as high as two billion dollars and losses stemming fr