461–470 of 837 posts
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> thieves can break into my house steal and crack my safe or hold me at knifepoint and ask me to open it. you: "sorry, i have a multi-sign wallet and the other signatory lives at the other end of the world" thieves: understandable, have a nice day
Actual thieves: "Cool. We're going to kidnap you and beat you until your other signatory coughs up access."
Something something xkcd $5 wrench
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In simple words, he should have called a smart contract's function which would withdraw his tokens and send real ETH to his address. Instead, he sent tokens to smart contract's address and they will stay there forever, not associated with any account. This complexity should be abstracted away by wallet's UI. Users don't have to call APIs directly. Also, this whole situation could be prevented by trying to send a smal…
> he sent tokens to smart contract's address and they will stay there forever, not associated with any account. Wait... so the tokens are really still there, just inaccessible? In what way do the tokens still exist? What makes them inaccessible? Is there really no possibility of restoring the tokens? No possibility of cleverly hacking them out with the assumed myriad of unpublished security flaws?
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"It was a valid action, but not the action the user actually wanted to perform." It's an action noone ever has ever wanted or ever will want to perform. In the same way putting your finger inside a power socket is an invalid action, and people who designed sockets were smart enough to make it impossible.
The only thing you're showcasing here is the lack of understanding of what happened. This transfer was a transfer from one address to another. No one has ever wanted to do that? It's the entire point of cryptocurrencies!
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Wait. I'm not letting anyone off the hook for not knowing the above if they put $5 into something, let alone $500k. But even as a coder and someone who was deeply involved in crypto at one point (2011) I find it hard to make heads or tails of wtf this means. All I hear are a lot of acronyms and bizarre edge cases upon edge cases. It sounds like those arguments you'd hear between kids in junior high over magic cards o…
In simple words, he should have called a smart contract's function which would withdraw his tokens and send real ETH to his address. Instead, he sent tokens to smart contract's address and they will stay there forever, not associated with any account. This complexity should be abstracted away by wallet's UI. Users don't have to call APIs directly. Also, this whole situation could be prevented by trying to send a smal…
This is just a dumbass user doing dumbass things. This is basic-level stuff right here. Don't interact with contracts directly unless you 100% know what you're doing.
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Account numbers have checksums. An „off by one“ typo cannot occur.
I wouldn't trust all banks to have such things in their account numbers. Especially in the tech age where they seem to think they're beyond physical keyboard typos and OCR errors.
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your whole comment reads like an ad for that video
I’d say ‘recommendation’ not ‘ad’ :) This was the related section https://youtu.be/YQ_xWvX1n9g?t=4637s that lead me down the rabbit hole of watching the whole thing I have no connection other than stumbling across it after seeing this story today and thought the critique tied in well.
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It's not really edge bases, it's how contracts works, and how this contract works. There is nothing magical here. It's a bit like avoiding the checksums that IBAN has, and then complaining that IBAN is broken. Most people interact with WETH via UIs, but for some reason this user chose not to, and got severely burned because of it. Things that require expertise usually requires one to know acronyms and how things work…
Or like sticking the wrong plastic card into an ATM and observe the machine eat the card... and your bank account. You'd expect that invalid actions lead to idempotent errors, not glitch states where you lose everything.
In case you’re wondering what happened, from the thread: He sent ETH to the WETH contract, received WETH as expected. Then he wanted to do the reverse and sent WETH, but will not receive anything, because you're supposed to swap your WETH to ETH in exchanges like Uniswap, or call the "withdraw" function in the contract. For contracts that want to only work with ERC-20 tokens, you use WETH, which comes from a contract…
The problem with crypto is despite your explanation, I have no idea what any of your post means. Not any of it.
I don't go to a geneticist and go "the problem with genetics is I have no idea what any of it means".
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This is what stresses me out the most about crypto. The supposed gold standard is a hardware wallet and access is done via 12-word recovery phrase but even that is sketchy. If I'm not wrong all an attack has to do is get recovery phrase and load it into another hardware wallet if they don't have mine, this is functionality is there if the hardware wallet fails. If I've been doxxed and have several mil in crypto, thie…
> thieves can break into my house steal and crack my safe or hold me at knifepoint and ask me to open it. you: "sorry, i have a multi-sign wallet and the other signatory lives at the other end of the world" thieves: understandable, have a nice day
(This technique has been used in real bank robberies; both of the people required to open Northern Bank had their families taken hostage https://www.theguardian.com/uk/2008/oct/09/northernbankrobbe... , and that was for a mere £28m in easily traceable physical money!)
Here's an unrelated but related question: How do you store your wallet / private keys where you would be comfortable storing an amount of money that's important to you? It feels like a bunch of consumer grade options we have are kind of flaky: Flash drives are extremely undependable. I've had a few fail to read after sitting in a closet for a year. SSDs can supposedly have data loss pretty quickly if left unpowered (…
The classic 3-2-1 backup rule applies here too. But in this case, the stakes are much higher :) I personally use: - Primary -- hardware wallet with memorized PIN - Backup -- seed phrase memorized - Backup -- seed phrase written on paper - Backup -- seed phrase split into pieces using Shamir's Secret Sharing, written on paper, stored with friends and family members
SSS is precisely the sort of "wow sounds awesome" thing that would capture the attention of geeks without really deeply thinking about the most likely failure modes.