The Resolv hack: How one compromised key printed $23M • Hacker News Board

I don't know how this specific thing works, but I don't really see any fundamental problem with mixing and matching. If you believe in the benefits of crypto, then 50% crypto is still possibly better than 0%.

It's not like I forgo a lock on my front door just because my windows are made of glass.

Re: The Resolv hack: How one compromised key printed $23M

#17

Post by thebiblelover7 » Mon, Mar 23, 2026, 11:27 PM UTC

primitivesuave wrote: post #9

Missing from the article - the hacker first compromised Resolv Lab's AWS account, took a private key from KMS that was used to control minting, then managed to extract $25 million into ETH before all protocol functions were suspended.

Do you have a source for that information? I'd like to read more on it.

Re: The Resolv hack: How one compromised key printed $23M

#18

Post by koakuma-chan » Mon, Mar 23, 2026, 11:28 PM UTC

colordrops wrote: post #12

andai wrote: post #10

If the admins can "lock all transactions", what's the point of it being a crypto?

Exactly. Stablecoins make zero sense.

you can send them around easily without having to deal with bullshit payment systems

Re: The Resolv hack: How one compromised key printed $23M

#19

Post by 0x3f » Mon, Mar 23, 2026, 11:29 PM UTC

dafelst wrote: post #5

But guys, what you don't understand is that the code IS the contract!!! That means you don't even NEED regulation!!

Yeah, people who genuinely believe that don't have any problem with smart contracts getting exploited. Of course there are people who _say_ that because it's financially expedient at the time, then change their tune. But both groups exist and this is not really a gotcha.

Re: The Resolv hack: How one compromised key printed $23M

#20

Post by mnkyprskbd » Mon, Mar 23, 2026, 11:29 PM UTC

0x3f wrote: post #16

andai wrote: post #10

If the admins can "lock all transactions", what's the point of it being a crypto?

I don't know how this specific thing works, but I don't really see any fundamental problem with mixing and matching. If you believe in the benefits of crypto, then 50% crypto is still possibly better than 0%. It's not like I forgo a lock on my front door just because my windows are made of glass.

Currency isn't a homebrew computer or backyard car project; it is either centralised or not; there is no in between.

Blockchain with central authority is the worst of both worlds.