FTX, OpenSea backdoor
50 / In episode 50, we delve into the sketchy background of FTX, the youth and savior complex of its founder, and the transparency of other exchanges in the market. We also uncover the potential backdoor in OpenSea Shared Storefront and how to decompile it.
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Timeline
04:48
The Binance element
06:13
CEX fails, use DEX?
08:20
The OpenSea backdoor
Episode notes
FTX
Domiciled in sketchy island
Youth / savior complex
What about other exchanges?
Coinbase – US-based, NYSE-listed are signals of trust
Kucoin – Officially in Vietnam, but actually Chinese?
Rush to transparency theater?
Whatever they do, it’s probably better than things were before
In 2021 all the ads looked the same –
Accredited investors doing ads or just random companies
FTX: Don’t be like Larry
Binance
Started it all by selling (or saying to do so)
https://twitter.com/cz_binance/status/1592044496174612482
Set up a fund for distressed assets
CZ gets a lot of upside from this
Go to DEX’s instead? Could be more transparent
Also lots of risk… price oracle discussion
The OpenSea backdoor
***add the tweet and blog post links
https://github.com/dtedesco1/opensea-shared-storefront-backdoor
https://blog.phor.net/opensea-shared-storefront-backdoor
Whenever you wanna look up what’s going on on Etherscan
Inject & steal approach
Process
Find bytecode in etherscan
Decompile with Ethereum Decompiler
Paste in text editor that can print in color
Print in color and steal your kid’s highlighter
Read until your eyes bleed
Easy one to decompile
Tools to decompile: https://blog.phor.net/opensea-shared-storefront-backdoor
