Ideation Bootcamp, Bitcoin Thieves Steal Billions, Stonks.com, and More

**Sam Parr** (0:00)
All right, there's this amazing book called Getting Everything You Can Out of All You've Got. I read it a few years ago and it changed my life.
And the reason I loved it was because it basically talks about how to get and make more money using things that you already have.
Coincidentally, today's podcast is brought to you by Business Made Simple. It's a podcast by Donald Miller, who I'm gonna tell you about in a second, but he has this amazing episode that's all related to this book and the things that I learned in this book. It's called How to Make Money with What You Already Have. It's an incredible episode. It talks about all the stuff that I learned in this book. The host is Donald Miller. I didn't know who Donald Miller was up until recently, but over the last 12 months, this is totally by coincidence. It was all separate people. They said, you have to check out Donald Miller. He's amazing. So I'm happy that he's part of HubSpot's podcast network. You can check it out, Business Made Simple Podcast. It's where he coaches you on how to build your business like an airplane, where the cockpit is your leadership, the body is your overhead, the right engine is your marketing, the left engine is your sales.
You have to check it out. This guy's amazing. It's called Business Made Simple with Donald Miller.

**Shaan Puri** (1:02)
They find a bunch of burner cell phones. They find like a bag of like $50,000 of cash. They find a bunch of like the hardware wallets that had the bitcoins in them.
And then they found like folders on their computer that were like fake passport ideas and like places to go, places to run away. Like they found like folders that said that shit on their computers.

**Sam Parr** (1:30)
I don't even entirely understand what happened, but I have a backstory about the people.

**Shaan Puri** (1:34)
If you read today's edition of the Milk Road, you will get the full backstory and 10 bullet points.

**Sam Parr** (1:38)
Yeah, you need to go earlier.

**Shaan Puri** (1:39)
But we did bullet point, and here's what happened. 2016, this crypto exchange called Bitfinex got hacked. And at the time, I think 120,000 Bitcoin got stolen. That was like $70 million got stolen.
And it was bad. That was a big hack. The price of Bitcoin that week dropped by 40%.
So it caused this huge fear shock in the market.
But the thing about Bitcoin is Bitcoin is on a public ledger. It's a public blockchain. So everybody could see the coins. Everybody saw, oh, the coins are in this wallet. And so all the other exchanges were like, look, this is bad for the industry. We will try to prevent, if that wallet tries to cash this out, we won't let them cash out the money. And so for many years, that money kind of just sat in those wallets or was moving in like really small, small transactions back and forth between like a web of wallets. Clearly somebody was trying to like launder the money, essentially, they were trying.

**Sam Parr** (2:41)
But how did he, how did they even get it?

**Shaan Puri** (2:44)
I don't know what the exploit was that let them hack the accounts and they didn't hack all the accounts on Bitfinex. They actually just hacked like some of the whale accounts. So they were able to take one hundred twenty thousand Bitcoin from not all the accounts. And the funny thing is that Bitfinex didn't have the money to like make those users whole. So what they did was they they reduced everybody on Bitfinex's balance by thirty three percent or something to like balance it out some like horror. Like imagine if your bank did that. That would be like insane. I'd be like, oh, they robbed that guy's vault and you're taking my money away to like even it out for everybody. Like, no, thank you. So anyways, it was bad. And this is the reason why Bitfinex is not like, you know, the biggest exchange now.
So anyways, that the money kind of sat there. Now, fast forward five and a half years go by.
Last week, people start to notice bigger transactions coming from the the Bitfinex hack wallets.
And so they're like, there's these alerts on Twitter, like whale alert, whale alert, like the coins are moving, the coins are moving, hundred thousand dollars, a million dollars of the coins are moving, 10 million, whatever. And so and so the Fed go or not the Fed, so Department of Justice goes kicks down a door in New York into this, this, this husband and wife couple's house. And they look like, you know, your complete like average Joe clean cut, like this is not like, you know, doesn't look like a grimy criminal mastermind operation.