From the post mortem (1) -=>
- A hacker managed to exploit a ICO multisig wallet vulnerability and drain 44,055 ETH - $9,119,385 at present.
- A white hat showed up and "saved" 377,000 ETH - $78,039,000 !!! - by draining other accounts.
I get the "see cryptos are too insecure / it's a pyramid / it's a bubble / ICOs are scams / etc" arguments.
But holy shit turning a world currency into the wild west - for better or worse - is going to be disruptive, period.
That $10m out the window is like a Series A for a nefarious hacker with deep crypto skills, what does this success embolden or create?
I can only imagine the debacles that we have to look forward to, and I say that in full support of and as a long term believer in both blockchain and cryptocurrencies.
(1) https://press.swarm.city/parity-multisig-wallet-exploit-hits...
- A hacker managed to exploit a ICO multisig wallet vulnerability and drain 44,055 ETH - $9,119,385 at present.
- A white hat showed up and "saved" 377,000 ETH - $78,039,000 !!! - by draining other accounts.
I get the "see cryptos are too insecure / it's a pyramid / it's a bubble / ICOs are scams / etc" arguments.
But holy shit turning a world currency into the wild west - for better or worse - is going to be disruptive, period.
That $10m out the window is like a Series A for a nefarious hacker with deep crypto skills, what does this success embolden or create?
I can only imagine the debacles that we have to look forward to, and I say that in full support of and as a long term believer in both blockchain and cryptocurrencies.
(1) https://press.swarm.city/parity-multisig-wallet-exploit-hits...