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Yup, there was a bug that allowed the attacker to create an unlimited number of Bitcoin, it was fixed, but there seems to be this myth that SN provided complete bug free working code from the outset.
Where can I read more about this? Super interesting.
https://www.coindesk.com/markets/2018/09/21/the-latest-bitco...
https://news.bitcoin.com/bitcoin-history-part-10-the-184-bil...
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A hardware wallet is a physical device that stores some private keys in a tamper-proof secure element. Those private keys can be regenerated from a recovery phrase[1] which acts as a seed to regenerate the keys in a deterministic way. The hardware device is typically itself secured by means of a pin. Without the pin, the device can’t be unlocked so can’t be used, too many incorrect pin attempts will brick the device.…
I wonder, couldn't a such "wallet" be built on top of secure element (i.e on iOS/android)? Carrying around an additional device just for "wallet" features is very inconvenient.
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> if the experts can’t secure their accounts, what hope does anyone else have? This is my opinion of the entire software industry. Chrome exploits, iPhone hacks, etc. These are nearly trillion dollar companies. If they can't do it then nobody can. Something is fundamentally broken.
Something is fundamentally broken. "We can write perfect software to prevent all attacks" is fundamentally broken, because we have empirically proven that we can't. (The previous model, "we can trust people", is even more broken. But maybe it's the same breakage? "If this packet that came over the internet passes all of our filters of known bad things, then we should go ahead and process it.") People have touted capa…
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The hacker will have a rough time converting these to USD without exposing himself. If they’re in Russia they probably don’t need to care, but there’s a reasonable chance they live in a country that the FBI can reach. On the other hand, no one can do anything until the coins are moved or more information is uncovered. What a nightmare to lose $3.6m overnight.
Just use Defi - take a loan from a "smart" script with a collateral of tainted bittokens, then cash out loaned tokens, and never repay the loan. Isn't Finance 2.0 amazing? :)
Context now that the editorialised title has changed, this is a core Bitcoin developer. These things happen every day, but happening to a core developer (if confirmed!) who has a deep understanding of the systems and security indicates just how fragile crypto can be (in my opinion)
Nice straw-man argument. Eventually, you will understand that bitcoin is not crypto. There's bitcoin and there's everything else. Everything else is a scam. Bitcoin is the hardest money ever.
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I always have JavaScript disabled by default (uMatrix policy), but (0) there's many other attack vectors, to my layman understanding, and (1) at any rate that one's a Mastodon instance and those are blank pages without JS. I'm electing to add new URL regexps to my uBlock filters, to reduce the risk of accidentally clicking a link similar to this. I don't think I want to visit any web domain that caters to people who…
Are you’re (0) and (1) supposed to be citations? If so I’m interested and you forgot to add them.
I still think the reason Satoshi vanished is that he lost his private key and couldn't handle the embarrassment.
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> So you’re saying that to use crypto properly, I have to secure a physical object that grants irrevocable ownership of my wealth? That sounds bad. Yeah, that's how most things work in the physical world. If you want to secure a widget, then you need to "secure a physical object that grants irrevocable ownership" of it. Cryptocurrencies improve on this slightly by allowing you set up multisignature schemes, so you ca…
Can you go into more detail about how multisig helps? I assume one of the signatures is my hardware wallet. Who holds the other signature? Do they have SIPC insurance?
If you want to do multi-signature, you determine where your keys go and who holds them. It's up to you to secure your finances.