How To Learn The Trick of Confidence

This simple reframing of how I view myself feels pretty significant’: Jamie Waters. Photograph: Pål Hansen/The Observer

Dr. Nate Zinsser, a top US army psychologist renowned for helping lieutenants and officers build their confidence, is giving me a talking-to. We’ve been discussing highly disciplined writers who sit at their desks at 9am each day, no matter the circumstances, and assertively punch out stories.

“I definitely don’t do that,” I say, remarking that I envy their confidence to sit and deliver. An aggressive perfectionist streak combined with niggling impostor syndrome insecurities mean I need conditions to be just-so in order to have faith that I’ll produce anything decent. Zinsser blanches.

“The statement ‘I don’t do that’ is a decision you’re making about yourself,” he says, speaking over video call from his office at the US Military Academy in upstate New York; behind him there’s a whiteboard, ornamental Japanese swords and photos of athletes he’s counselled, including the Olympic-medal-winning US men’s bobsled team.

Delivered with a gentle assuredness, rather than barked across the screen, it’s not the tone you might expect from a man who for 27 years has directed the academy’s performance psychology programme. Indeed, the only thing about him that screams “army” is his black jacket, which has the word emblazoned in capitals across its front….Continue reading….

Source: How to learn the trick of confidence | Health & wellbeing | The Guardian

Critics:

A confidence trick is an attempt to defraud a person or group after first gaining their trust. Confidence tricks exploit victims using a combination of the victim’s credulity, naïveté, compassion, vanity, confidence, irresponsibility, and greed. Researchers have defined confidence tricks as “a distinctive species of fraudulent conduct … intending to further voluntary exchanges that are not mutually beneficial”, as they “benefit con operators (‘con men’) at the expense of their victims (the ‘marks‘)”.

Synonyms include con, confidence game, confidence scheme, ripoff, scam, and stratagem. The perpetrator of a confidence trick (or “con trick”) is often referred to as a confidence (or “con”) man, con artist, or a “grifter“. The shell game dates back at least to Ancient Greece. William Thompson (1821–1856) was the original “confidence man”. Thompson was a clumsy swindler who asked his victims to express confidence in him by giving him money or their watch rather than gaining their confidence in a more nuanced way.

A few people trusted Thompson with their money and watches. Thompson was arrested in July 1849. Reporting about this arrest, James Houston, a reporter for the New York Herald, publicized Thompson by naming him the “Confidence Man”. Although Thompson was an unsuccessful scammer, he gained the reputation as a genius operator mostly because Houston’s satirical tone was not understood as such. The National Police Gazette coined the term “confidence game” a few weeks after Houston first used the name “confidence man”.

A confidence trick is also known as a con game, a finesse, a con, a scam, a grift, a hustle, a bunko (or bunco), a swindle, a flimflam, a gaffle, or a bamboozle. The intended victims are known as marks, suckers, stooges, mugs, rubes, or gulls (from the word gullible). When accomplices are employed, they are known as shills. A short con or “small con” is a fast swindle which takes just minutes, possibly seconds. It typically aims to rob the victim of money or other valuables which they carry on their person or are guarding.

A “long con” or “big con” (also, chiefly British English: long game) is a scam that unfolds over several days or weeks; it may involve a team of swindlers, and even props, sets, extras, costumes, and scripted lines. It aims to rob the victim of huge sums of money or valuables, often by getting them to empty out banking accounts and borrow from family members.

In Confessions of a Confidence Man, Edward H. Smith lists the “six definite steps or stages of growth” of a confidence game. He notes that some steps may be omitted. It is also possible some can be done in a different order than the one shown or carried out simultaneously. Preparations are made in advance of the game, including the hiring of any assistants required and studying the background knowledge needed for the role.The victim is approached or contacted.

The victim is given an opportunity to profit from participating in a scheme. The victim’s greed is encouraged, such that their rational judgment of the situation might be impaired. The victim receives a small payout as a demonstration of the scheme’s purported effectiveness. This may be a real amount of money or faked in some way (including physically or electronically). In a gambling con, the victim is allowed to win several small bets. In a stock market con, the victim is given fake dividends.

A sudden manufactured crisis or change of events forces the victim to act or make a decision immediately. This is the point at which the con succeeds or fails. With a financial scam, the con artist may tell the victim that the “window of opportunity” to make a large investment in the scheme is about to suddenly close forever.

A conspirator (in on the con, but assumes the role of an interested bystander) puts an amount of money into the same scheme as the victim, to add an appearance of legitimacy. This can reassure the victim, and give the con man greater control when the deal has been completed.

In addition, some games require a “corroboration” step, particularly those involving a fake, but purportedly “rare item” of “great value”. This usually includes the use of an accomplice who plays the part of an uninvolved (initially skeptical) third party, who later confirms the claims made by the con man. Cons succeed for inducing judgment errors—chiefly, errors arising from imperfect information and cognitive biases.

In popular culture and among professional con men, the human vulnerabilities that cons exploit are depicted as ‘dishonesty’, ‘greed’, and ‘gullibility’ of the marks. Dishonesty, often represented by the expression ‘you can’t cheat an honest man’, refers to the willingness of marks to participate in unlawful acts, such as rigged gambling and embezzlement.

Greed, the desire to ‘get something for nothing’, is a shorthand expression of marks’ beliefs that too-good-to-be-true gains are realistic. Gullibility reflects beliefs that marks are ‘suckers’ and ‘fools’ for entering into costly voluntary exchanges. Judicial opinions occasionally echo these sentiments.

Accomplices, also known as shills, help manipulate the mark into accepting the perpetrator’s plan. In a traditional confidence trick, the mark is led to believe that he will be able to win money or receive some benefits by doing some task. The accomplices may pretend to be strangers who have benefited from performing similar tasks in the past.

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Profanity May Be The Cause Of Crypto Trading Firm Wintermute’s $160 Million Hack

Wintermute, a London-based cryptocurrency firm that trades billions of dollars’ worth of digital assets daily, lost $160 million in a hack early on Tuesday. Founder and CEO Evgeny Gaevoy says he learned of the hack a few minutes after it took place, around 6:00 AM London time.

An hour later, he announced the theft on Twitter without saying how it happened. All told, the hacker stole about $120 million worth of Wintermute’s “stable coins” including USDC and USDT, $20 million worth of its bitcoin and ether and another $20 million worth of lesser-known cryptocurrencies.

Gaevoy explained to Forbes that, although the investigation is still ongoing, the hack likely originated with a service called Profanity, which generates “vanity addresses” for digital cryptocurrency accounts to make them easier to work with. Otherwise, crypto accounts are roughly 30-character strings of varied letters and numbers.

Last week, a blog post by another crypto firm revealed a security vulnerability with Profanity’s code. The gist of the problem: someone with enough computing power can generate all the possible keys or passwords created for a Profanity vanity address. Then they can scan the associated accounts to see how much money they hold and steal the funds.

Wintermute had been using Profanity not to create easy-to-remember names for digital accounts, but to lower its trading transaction costs, since that’s another feature of Profanity’s service, Gaevoy says. When Wintermute learned of the vulnerability last week, they took steps to technologically “blacklist” their Profanity accounts, shielding them from being liquidated.

However, due to their own “human error,” one of the 10 accounts didn’t get blacklisted, according to Gaevoy, which probably resulted in the $160 million heist. These trading accounts were part of Wintermute’s “decentralized finance” or DeFi business, where it makes rapid trades on decentralized exchanges like Uniswap and Sushi Swap that aren’t controlled by a single entity.

Since the DeFi ecosystem is young, highly experimental and designed to be more openly accessible than traditional finance, it doesn’t have the same safeguards that centralized exchanges like Coinbase has. “You don’t have any circuit breakers. You don’t have any two-factor authentication to help store your keys,” Gaevoy says.

In 2021, DeFi hacks totaled $1.3 billion, according to research by security firm Certik. Analytics firm Chainalysis estimates that North Korea-linked groups stole $1 billion from DeFi protocols in the first eight months of 2022. Some tried and true security practices in crypto, such as using external hardware wallets or “multi-sig” applications that need to be digitally signed by multiple parties before a transaction is approved, can’t be used for the type of automated trading Wintermute does.

“You need to sign transactions on the fly, within seconds,” says Gaevoy. So they had to invent their own tech tools and security protocols. “Ultimately, that’s the risk we took. It was calculated.” DeFi has been a flourishing part of Wintermute’s business in prior years. “It didn’t work out this year,” he admits.

The Wintermute CEO has some leads on who the hacker might be, and he’s investigating them “both internally and with the use of external partners.” He’s hoping that the hacker will become a “white hat” who returns most of the funds, and he’s now offering a 10% bounty, or $16 million, if the hacker gives back the remaining $144 million. He tweeted that Wintermute “would prefer to resolve this in a simple way, but the window of opportunity to do so is closing fast due to the high profile of this exploit.”

Despite the new $160 million hole in its balance sheet, Gaevoy says Wintermute is on sound financial footing, with more than $350 million in equity. “We are one of the very few crypto-native proprietary trading firms that can actually take this punch,” the CEO says. For a couple hours after the hack, the company paused its OTC trading desk, where it facilitates large trades between other parties. But that has resumed to its normal operation.

I lead our fintech coverage at Forbes and also cover crypto. I edit our annual Fintech 50 and 30 Under 30 for fintech, and I’ve written frequently about leadership and corporate

Source: Profanity May Be The Cause Of Crypto Trading Firm Wintermute’s $160 Million Hack

.

Critics by  

As per 1inch’s findings, the private keys linked to vanity addresses could be calculated with brute force attacks. A hacker managed to steal $3.3 million worth of cryptocurrencies from several Ethereum addresses generated with the “Profanity” tool. The funds were drained even after the decentralized exchange aggregator 1inch warned users about discovering a severe vulnerability putting millions of dollars at risk.

It had previously advised users owning wallet addresses generated with the Profanity tool to transfer their assets to a different wallet.

1inch Security Report

In early 2022, 1inch contributors observed that Profanity used a random 32-bit vector to seed 256-bit private keys and suspected it could be unsafe. Upon further investigation, more suspicious activity was noted, signaling that Profanity wallets were compromised.

“The 1inch contributors checked the richest vanity addresses on popular networks and came to the conclusion that most of them were not created by the Profanity tool. But Profanity is one of the most popular tools due to its high efficiency. Sadly, that could only mean that most of the Profanity wallets were secretly hacked.”

According to 1inch, Profanity happens to be a popular and “highly efficient” tool with which users are able to create millions of addresses per second. However, the procedure used by Profanity to generate the addresses was not flawless either and was susceptible to attacks.

The security disclosure report published by 1inch last week also noted that the vulnerability may have enabled hackers to “secretly” steal millions of dollars from Profanity users’ wallets for years. The contributors are currently trying to determine all the compromised vanity addresses.

Soon after the warning, blockchain investigator ZachXBT notified the attack draining over $3 million in funds. Fortunately, his tweet helped a user save $1.2 million in crypto and NFTs from the hacker who had access to their wallet.

Profanity Devs Abandon Project

According to Tal Be’ery, ZenGo’s security lead and chief technology officer, the malicious entities could have been “sitting” on the vulnerability in an attempt to get their hands on as many private keys as possible of bug-ridden Profanity-generated vanity addresses before the vulnerability was detected. However, they cashed out after it was publicly exposed by 1inch.

Meanwhile, one of the Profanity developers, who goes by the pseudonym ‘johguse’ on Github, said that they have already “abandoned” the project a few years ago. The comment regarding the same read

“This project was abandoned by me a couple of years ago. Fundamental security issues in the generation of private keys have been brought to my attention. I strongly advise against using this tool in its current state. This repository will soon be further updated with additional information regarding this critical issue.”

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Quit Smoking                           https://jvz3.com/c/202927/359081/
Reputor                 https://jvz8.com/c/202927/380159/
ReVideo                     https://jvzoo.com/c/202927/381761
ReviewReel                        https://jvz6.com/c/202927/382663/
Rewriter                      https://jvz4.com/c/202927/353373/
RSI SEO                              https://jvz6.com/c/202927/384381/
Scriptdio                       https://jvz4.com/c/202927/385387/
Seniors Income                        https://jvz2.com/c/202927/383888/
Senuke                                  https://jvz6.com/c/202927/279944
ShopABot                           https://jvz2.com/c/202927/291955
ShopFunnels                        https://jvz3.com/c/202927/384069/
SocialAgency360                 https://jvz1.com/c/202927/385357/
SociCake                       https://jvz2.com/c/202927/321987
Socifeed                          https://jvz6.com/c/202927/375706
SociJam                    https://jvz2.com/c/202927/309649
Soronity                                 https://jvz6.com/c/202927/368736
SqribbleEbook                 https://jvz6.com/c/202927/283867
Stackable Picture                        https://jvz1.com/c/202927/385046/
Steven Alvey’s                      https://jvz2.com/c/202927/351754
Stoodaio                                    https://jvz1.com/c/202927/372094
Storymate                         https://jvz3.com/c/202927/320972
StreamPilot                        https://jvz2.com/c/202927/385431/
Studioninja                       https://jvz1.com/c/202927/374965
Sunday Freebie                             https://jvz1.com/c/202927/267113/
Super backdrop                https://jvz8.com/c/202927/376524
Superbackdrop                 https://jvz8.com/c/202927/376524
Survai                      https://jvz8.com/c/202927/380933/
Syndranker                          https://jvz3.com/c/202927/378143/
Talkingfaces                      https://jvz2.com/c/202927/375358
Talkingfaces                    https://jvz3.com/c/202927/375550
The Internet Marketing                https://jvz2.com/c/202927/289944
Tonai Voice Content           https://jvz8.com/c/202927/383119/
Toon Video Maker                   https://jvz2.com/c/202927/357201
TrafficFor                https://jvz8.com/c/202927/381950/
TrafficForU                   https://jvz3.com/c/202927/381950/
Trendio                       https://jvz3.com/c/202927/381003/
TubePal                        https://jvz6.com/c/202927/379863/
Tubeserp                        https://jvz3.com/c/202927/370472
TubeTargeter                   https://jvz6.com/c/202927/377211
TV Boss Fire                https://jvz6.com/c/202927/379480/
Ultrafunnels A.I                 https://jvz2.com/c/202927/381129/
VIADZ Ad Template                    https://jvz4.com/c/202927/379307/
Vidcentric                             https://jvz4.com/c/202927/376095
Viddeyo                                https://jvz6.com/c/202927/382326/
Videevolve                       https://jvz4.com/c/202927/381011/
Video Campaignor      https://jvz4.com/c/202927/387058/
Video Games                            https://jvz3.com/c/202927/184902/
VideoEnginePro                https://jvz2.com/c/202927/372916
VideoGameSuite                     https://jvz3.com/c/202927/366537/
VideoRobot Enterprise                https://jvz8.com/c/202927/291061
VidKreate                        https://jvz6.com/c/202927/386029/
VidMingo                           https://jvz6.com/c/202927/378359/
VidSnatcher                           https://jvz3.com/c/202927/342585
VidVoicer                      https://jvz1.com/c/202927/379983/
Vidzura                       https://jvz4.com/c/202927/385754/
Viral dash                            https://jvz6.com/c/202927/375959
Viral Quotes            https://jvz2.com/c/202927/386984/
VirtualReel                       https://jvz8.com/c/202927/376849
Vocalic                    https://jvz2.com/c/202927/383848/
VoiceBuddy                      https://jvz1.com/c/202927/342854
WebCop                         https://jvz4.com/c/202927/378683/
Webinarkit                       https://jvz3.com/c/202927/383937/
Webprimo                   https://jvz1.com/c/202927/379455/   Website Builder
WordPress Mastery                       https://jvz1.com/c/202927/386249/
WOW Backgrounds                      https://jvz3.com/c/202927/381615/
WowBackgraounds                       https://jvz2.com/c/202927/381556/
WP GDPR                                https://jvz8.com/c/202927/299907
WP Simulator                    https://jvz3.com/c/202927/46987/
Writer Arc           https://jvz1.com/c/202927/386602/
writing job                                  https://jvz8.com/c/202927/213027
XBrain Forex                           https://jvz3.com/c/202927/372305/
XFUNNELS                         https://jvz2.com/c/202927/310335
Xinemax                    https://jvz1.com/c/202927/381749/
YoDrive                    https://jvz2.com/c/202927/384700/
Your 3DPal                https://jvz2.com/c/202927/381685/
YTSuite                       https://jvzoo.com/c/202927/381179
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