aj3
Joined 6 years ago
Joined 6 years ago
What law says this? Technically, tokens are smart contracts, basically OOP classes with both data and behavior. They also by design have public methods which are meant to be triggered by anyone on the chain. It's not at all obvious that triggering these methods in an unexpected order or with unexpected data is breaking any laws whatsoever. It's bytecode anyway, so there's no human readable EULA's or explanations on what you're allowed to do with the token.
All this to say, I just fail to say how this can be constructed as "changing the terms of the transaction". There was no legal agreement between parties and no existing precedent to treat this as a malicious attack at all.
All I see is a Wall Street establishment pulling strings in order to protect their investment, by asking for a sudden government oversight in the system that was built with the express goal of not requiring any government oversight.
After the patch has been pushed out, exploits become progressively cheaper so letting users to postpone security updates is a crime.
Firefox didn't work, because person deleted session and didn't have second factor (nor backup auth methods). Chromium worked, because it still had device session.
I'm traveling and using TOR and VPNs just like everybody else and haven't faced any issues. There most definitely is a problem with communicating security/accessibility tradeoffs to the public though, so I'm not putting blame on the op here.
You could alternatively claim that the guys defined their own protocol which addressed market inefficiency (which MEV is). Imo it's insane to claim that a trading technique you invented should have zero risk, and any losses you take are an indication of theft.