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Chapter 255 Super Chain Reaction
“As you have just seen, the first step in our security testing is to enter the backend of the exchange in an abnormal way when the other party is fully prepared, to obtain some data that we cannot access under normal circumstances.

Friends who often hack into other people's computers must know how difficult this step is... Well, okay, it doesn't seem that difficult to you now, we have already entered, but in fact this is because we have the most advanced computing tools.

This is what we called quantum simulation computing. Why do we say that quantum computing is better than classical computers? In fact, it is not because of how advanced quantum computers are now, but because of the characteristics of quantum computing itself..."

At this time, Qiao Yu in front of the camera had also entered the state. He suddenly found that he seemed to be very good at doing this kind of live commentary work.

Mainly because it's too simple.

You just need to report the professional language on the software to the camera in a language that ordinary people can understand.

By the way, I will explain the difficulty and advantages of each step, and there is no need to worry about having nothing to say. There is even a sense of satisfaction that is not enough.

“But these are just the beginning, because there is still a lot to do. Everyone should know that such centralized exchanges will save transaction logs on the server.

Therefore, if one wants to deceive the exchange, a series of actions are required, such as modifying transaction records through algorithms, clearing logs, and forging multiple transaction verification signatures if possible.

This series of operations is intended to confuse the audit system on the platform to the greatest extent possible, making it difficult for the platform's security team to trace the whereabouts of funds even after the transaction occurs.

But this is not our main purpose today. In fact, our security testing has never been aimed at a single transaction on the platform, or to find loopholes in the shallow trading system.

What we need to do is to conduct an in-depth review of the entire cryptocurrency platform’s trading system through quantum simulation calculations, so you don’t have to worry about the live broadcast ending hastily…”

Qiao Yu was talking to the screen in a relaxed manner. Obviously, not everyone could remain relaxed at this moment.

Especially Jesse Powell, founder and CEO of Kraken exchange.

Although quantum supremacy has been highly praised by companies such as Google, he never expected it to be this powerful.

Jesse Powell considers himself a manager who attaches great importance to technology and security. The exchange spends nearly $100 million every year on upgrading security technology.

This includes the salaries and benefits of security technicians, as well as their recommendations for various upgrades to server security, both hardware and software.

What no one expected was that after so many years and nearly a billion dollars of investment, it turned out to be as useless as paper in the face of quantum computing.

Ten minutes, just ten minutes...

Those complicated security strategies didn't work at all, and they let people in straight away. He could only watch as $800 million worth of Bitcoin was transferred from the main wallet of the trading market...

Yes, MasterWallet is the main wallet account of the trading platform, which stores some of the most liquid virtual currencies on the platform.

Similarly, this money is an important tool for the exchange to maintain liquidity. Now the most important virtual currency assets in the wallet have been directly emptied...

Jesse Powell couldn't imagine what would happen if the money was not repaid on time.

In particular, the fact that Qiao Yu's team was able to access the system backend of the Kraken exchange so quickly obviously caused panic among countless investors.

Almost at that moment, almost all virtual currency varieties in the exchange began to fall wildly.

If it were a single type of cryptocurrency, this level of crazy volatility would be nothing for the cryptocurrency market.

Jesse Powell has seen more exciting things over the past decade, but this time the situation is obviously different.

The good news is that it’s not just Kraken, the other two exchanges were not much better and were quickly denied permission. But this is also bad news for the entire industry.

Because the prices of cryptocurrencies on exchanges have fallen even more sharply, it is obvious that many investors are losing confidence, leading to a panic selling wave.

But this didn't make Jesse Powell feel that the end of the world had really come. Anyway, on the surface, Qiao Yu's team was invited to test this time.

The purpose is to help them build a safer trading system to avoid being attacked by quantum computing in the future.

As long as we can unify our stance with Qiao Yu, we will be able to slowly restore investors' confidence in the future.

Moreover, he had thought about hiring Qiao Yu's team to be responsible for the security issues of Kraken Exchange. As long as this matter can be settled, the game can continue.

But those people in the live broadcast room who were eager to create chaos in the world really broke his defense!
One by one, they shouted in the live broadcast room to run away. What the hell is going on? Cryptocurrency will be worthless in the future.

Really, compared to these people, Jesse Powell even prefers those who flatter China in various ways in the comment section of the DouLe International live broadcast room!
"Do you know why Chinese football is so bad? It can't even be ranked in Asia? That's because Chinese people pay more attention to cultivating their children's learning. That's why China can cultivate the world's most powerful scientists and engineers! Instead of so-called football stars!"

"I couldn't agree more! In fact, football is just a sport invented by Westerners to paralyze the lower classes, so that children from poor families can never become scientists and engineers, and can only shed blood and sweat on the field for the entertainment of the rich."

"Thumbs up! The biggest lie in the world is that the World Cup and the Olympics can bring peace! No matter how great the sports are, there is no peace. But if scientists design the most advanced missiles, they will definitely bring peace."

……

Similar comments are mixed in with various arguments that cryptocurrency is about to end, and float across the comment section of the international version of TikTok from time to time.

It can be seen that everyone is sincere. Because according to the self-introductions of these users in the comments, they all come from countries that have won the World Cup several times.

For example, Brazil, Argentina...

The only pity is that there are not many Chinese watching the live broadcast on the international server. It is difficult for these comments to be transmitted to China in the first place.

Fortunately, in the era of self-media, there is no shortage of Internet porters. Many people have already started recording screens. They have also thoughtfully translated the English content into Chinese, waiting to be ported to the domestic version of DouLe.

The overall atmosphere in the live broadcast room can only be described as joyful. It seems that everyone is happy to see these crypto exchanges in trouble.

This probably also shows that even in places where cryptocurrency is legal, it is still far away from the lives of ordinary people.

After all, for 80% of ordinary people in this world, just to have an ordinary life is already the best they can do. How can they have the spare energy to invest?
This is the same reason why no matter how badly the Chinese stock market falls, it won’t cause any big stir.

Most of those who can roll in the stock market are at least middle class with no worries about food and clothing. The real poor don't have the time to pay attention to the stock market, and they don't even know how to open an account. So the majority of netizens in Huaxia's live broadcast room are actually very happy at this time.

When the live broadcast room first opened, those who were still looking for opportunities in the cryptocurrency market were still in the mood to say a few words in the comment section.

But at this moment, these people may still be in the live broadcast room, but their attention has been focused on their wallets.

After all, they just watched Qiao Yu's team directly control a huge wallet, and then transferred all the bitcoins in the wallet right under the nose of the exchange.

The transaction log on the market server was also changed. In other words, for the market, the transaction never existed, but the money in the wallet was gone.

That's hundreds of millions of dollars worth of Bitcoin, and it's gone in an instant. This isn't an online game, so there's no way there's a rollback mechanism.

Even if one truly believed that Qiao Yu was an investor invited by the platform to conduct security testing and was not worried that his wallet would really be affected, the prices of various cryptocurrencies in the market were plummeting at this time, and one certainly would not have the leisure to pay attention to the situation in the live broadcast room.

Everyone is busy fleeing or cursing, and they are cursing the three major exchanges.

Especially those who have been bullish on cryptocurrencies recently. If the three major exchanges had not conducted this test, how could such trouble have arisen?
For the three major exchanges, the proactive statement they issued was to invite Qiao Yu to conduct security testing, although it did allow more room for subsequent operations to a certain extent.

But they definitely did not expect that the security system of the cryptocurrency trading platform could be hacked so easily.

What is quantum supremacy? This is pure quantum supremacy!
The platform's security system was breached so easily that it will be difficult to operate without major action.

Brian Armstrong, for example, has already smashed a cup in the conference room!

Unlike Jesse Powell who locked himself in the office to watch the live broadcast, the technically-minded founder of Coinbase exchange directly called all the executives in charge of security technology into the office to watch the live broadcast together.

The meeting room was eerily quiet at this moment.

However, the coffee and glass shards splattered all over the floor proved how angry Brian was at the moment.

“Can anyone explain to me how the other party could obtain the transaction key so easily? This is the security system we rely on?

You know what? I might as well use the more than 80 million dollars a year to raise a herd of pigs! The result is the same anyway, the pigs are fat and we can eat meat! "

To be honest, although these words were hurtful, no executives in the conference room refuted them at this time.

It really hurts.

Before the live broadcast officially began, everyone's most pessimistic prediction was that the various security verifications on the trading platform would at least last for a few hours.

After all, they were prepared. Because of the pessimistic forecast, they even directly activated the most stringent security verification measures.

This ensures that each transaction account and digital wallet is protected by multiple systems and security layers.

As a result, even normal trading customers have been affected. The procedures for operating accounts are much more complicated than before. At least two verifications are required, and a few accounts that are identified by the system as potentially risky even have to go through more security verifications.

But now it seems that their previous slightly pessimistic predictions are still too optimistic!

Who would have thought that the most stringent security policy in history of temporary upgrades would only last twelve minutes.

Yes, it was only two minutes later than Kraken Exchange. The only difference is that the other party did not temporarily activate multiple protection mechanisms because of this detection.

So Brian's anger is understandable.

“Obviously, quantum simulation computing belongs to a more advanced technical means, which can indeed cause a dimensionality reduction attack on the security strategies we are using now.

And through background analysis, I noticed that the focus of their attack was actually the transaction process, rather than the blockchain, which shows that quantum simulation computing has not yet reached the level of true quantum supremacy. "

Soon someone broke the silence and gave a very pertinent analysis.

The speaker was the exchange's chief security architect.

There was no way. Brian had been staring at him since he smashed the cup. If he kept silent like the others, he might be able to find a new job the next day.

"You mean, the real blow hasn't come yet?"

“Yes, true quantum supremacy will only be more terrifying than it is now. And we don’t know whether more advanced quantum algorithms can be achieved simply by algorithmic innovation.”

Brian took a deep breath and was about to speak when a cry of surprise suddenly came from the conference room...

"Is this Chinese guy crazy? How dare he say that?"

Brian immediately turned his attention to the subtitles of the live broadcast on the screen.

There was no way, Qiao Yu was explaining in Chinese, and they could only rely on subtitles to know what Qiao Yu said.

Then I suddenly felt that I was not feeling well...

“…Now that you have seen these operations, do you think that the security measures of these currency exchanges seem very simple and cannot defend against our quantum simulation computing attacks at all?
In fact, their security measures are already very strong! But I hope everyone will recall how Google promoted the concept of quantum supremacy before. Now I want to say that Google is right! Quantum supremacy does exist.

Because including the stock market, all major financial exchanges around the world use similar technical principles to ensure transaction security. Even the well-known New York Stock Exchange has security measures that are not as good as those of quantum currency exchanges.

Therefore, quantum simulation computing technology can theoretically quickly crack private keys in any stock, bond and futures trading market, obtain management authority and operate all transactions without anyone noticing.

And it’s easier to operate this way… What? You don’t believe it? Why don’t you believe it? Come on, come on, tell me which country’s stock market trading system you think is the safest…”

(End of this chapter)