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Maybe this is a stupid question, but how ? Was the Bahamas' SEC holding its own copies of FTX's keys? I thought the entire point of these schemes was that this kind of seizure-by-force wasn't possible (absent exploits or insiders).
Guns. Guns are how. Guns are how governments achieve their objectives. There is no crypto scheme, no algorithm, no possible arrangement of private keys and Merkle trees that can escape the reality of men with guns.
Earlier quoted context omitted.
Guns. Guns are how. Guns are how governments achieve their objectives. There is no crypto scheme, no algorithm, no possible arrangement of private keys and Merkle trees that can escape the reality of men with guns.
Are you suggesting that the Bahamas infiltrated FTX with guns and took their keys?
Maybe this is a stupid question, but how ? Was the Bahamas' SEC holding its own copies of FTX's keys? I thought the entire point of these schemes was that this kind of seizure-by-force wasn't possible (absent exploits or insiders).
Earlier quoted context omitted.
Guns. Guns are how. Guns are how governments achieve their objectives. There is no crypto scheme, no algorithm, no possible arrangement of private keys and Merkle trees that can escape the reality of men with guns.
Are you suggesting that the Bahamas infiltrated FTX with guns and took their keys?
Earlier quoted context omitted.
The announcement was from the new FTX under emergency CEO Ray, not the old FTX under SBF. And the Bahamas claims that the specific FTX company that did the transfers, FTX Digital Assets, was not a part of the bankruptcy proceedings and that SBF was still its CEO. Finally, new-FTX did not say they were "hacked", only that the transfers were not authorized by them.
SBF straight up said multiple times it was a hack in his leaked talks with a vix reporter many days alter
Earlier quoted context omitted.
Do you have any evidence? At a glance, this seems to be Bahamian civil servants diligently doing their duty that was given.
The Bahamas has a total population of a smallish city and surely a national budget to match. Grabbing 500M anonymously (while letting everyone run around for days thinking it was a hacker) doesn't make much sense either. Did they put their entire country's budget on the exchange or something?
Earlier quoted context omitted.
Guns. Guns are how. Guns are how governments achieve their objectives. There is no crypto scheme, no algorithm, no possible arrangement of private keys and Merkle trees that can escape the reality of men with guns.
Are you suggesting that the Bahamas infiltrated FTX with guns and took their keys?
Of course, violence isn't the only sort of coercion... but it's part of it.
Earlier quoted context omitted.
>absent exploits or insiders Insiders can be press ganged with threats of violence, which the state has a monopoly on.
I had assumed that they had some kind of obtuse M of N scheme with no sufficient number of parties in the same place at once, but that was perhaps too optimistic (?) of me.
Earlier quoted context omitted.
Are you suggesting that the Bahamas infiltrated FTX with guns and took their keys?
No, they're suggesting that SBF is in their jurisdiction, which gives them substantial "do what we say, or else" power.