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Poly Network hacker returns $258M after stealing $600M

forbes.com

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Re: Poly Network hacker returns $258M after stealing $600M

#101

Post by wesleywt »

cardosof wrote: post #21
woah wrote: post #12

Earlier quoted context omitted.

How does the crypto community encourage circumventing laws?

Of course every generalization is wrong but a not so little part of the crypto community seems very interested in avoiding taxation, money laundering and buying illegal stuff without detection.

Internet file sharing was/is illegal when it first started. Now its the main form of distribution for music and movie industry. Are you only seeing criminal part of crypto and ignoring the rest to confirm your bias?

Re: Poly Network hacker returns $258M after stealing $600M

#102

Post by lexapro »

sureglymop wrote: post #52
NorwegianDude wrote: post #31

Since the beginning I've always looked at cryptocurrencies as a free for all. If you're dumb enough to leak your key, then the value is gone. If you send your currency away to something without looking into it first, then it's your own stupidity. Lost your key? Great job, dumbass. Crypto currency is and has always been a "do what you want, but if you mess up, it's on you" in my eyes. It seems most people using crypto…

Most people will not hold their own wallet. They just buy cryptocurrency through an exchange and let it sit as an "investment". They don't manage the wallet themselves and don't use the cryptocurrency for transactions. They simply think this is a quick way to make money and see it more as a more volatile alternative to the stock market.

This is probably >90% of cryptocurrency users. Of course it's just a guess, I wish I knew the real percentage.

Re: Poly Network hacker returns $258M after stealing $600M

#103

Post by cr3ative »

wesleywt wrote: post #96
jshen wrote: post #9

Earlier quoted context omitted.

I love how the crypto community encourages circumventing laws, UNTIL someone steals from them using their own “smart” contract then calls on authorities for help.

Can someone explain to me why HN is so anti-crypto?

Have you seen crypto?

Re: Poly Network hacker returns $258M after stealing $600M

#104

Post by ramraj07 »

bouncycastle wrote: post #91
hamburgerwah wrote: post #16

I haven't seen any evidence there was in fact a hack at all. A digital contract was used in a way that complied with the contract that the bonehead writers of that contract did not intend. That's it. If bad contract writers get to cry "hack" and beg for their money back there is no point to digital contracts at all. If someone had physically or electronically broken into systems and illicitly copied private keys that…

It looks like you are debating whenever the hack was moral or not. From a moral standpoint, it's like, if you accidentally leave behind your wallet with cash on a park bench with a lot of passer-by, then it's your fault for leaving it there and whoever finds it deserves to keep it. I'm sure you're familiar with the "finders keepers, losers weepers" saying... After all, it's in public, similar to how public blockchain…

Which country would it be? Questions of morality are slippery slopes since one could argue the entire crypto system is immoral and who cares about the moral rules in a pirate village? As Jack Sparrow says famously, there are only two types of things out there: the things you CAN do, and the things you CANT. Crypto is the libertarians wet dream and to come and argue you should be a Good Samaritan from the opposite end of the spectrum because someone proved libertarianism is bulls*t suggests these people are just immature at best.

Re: Poly Network hacker returns $258M after stealing $600M

#105

Post by meepmorp »

ceilingcorner wrote: post #81
mlazos wrote: post #35

Earlier quoted context omitted.

It’s so funny to me when everyone touts crypto + smart contracts as revolutionary™ then when you follow a system implemented with them to its logical conclusions you have analogs to everything that already exists. Lawyers to audit the contracts for bugs (and yes there can be bugs in a formally verified spec as well), courts to arbitrate disagreements, and an authority to enforce rules when someone finds a security ho…

“Would would anyone need elevator buttons? There are already trained elevator operators everywhere that do the same thing.” “Why would anyone need light bulbs? There are gas lamps and oil everywhere that do the same thing.” “Why would anyone need email? There are post offices that do the same thing.”

"Why would anyone want your new elevator buttons? The ones we have already let you choose the floor you want without letting a stranger steal all your money by pressing it."

Re: Poly Network hacker returns $258M after stealing $600M

#106

Post by ramraj07 »

wesleywt wrote: post #96
jshen wrote: post #9

Earlier quoted context omitted.

I love how the crypto community encourages circumventing laws, UNTIL someone steals from them using their own “smart” contract then calls on authorities for help.

Can someone explain to me why HN is so anti-crypto?

It’s not that HN is anti crypto, it’s that most (if not all) smart people are. The only smart people that are pro crypto are ones trying to sell shovels in the gold rush (like Elon or Dorsey).

It’s ironic you’re asking this question in a thread about news proving how stupid crypto is to begin with.

Re: Poly Network hacker returns $258M after stealing $600M

#107

Post by nfin »

hellbannedguy wrote: post #93
mikefallen wrote: post #26

Earlier quoted context omitted.

You know whats used way more then crypto to buy illegal things and launder money? Cash

If you start moving more than $10,000, you will have IRS attention. (I think they like to pick on little guys because it's easier than the guys whom have lawyers, and CPAs?) Actually, I was flagged over $6000 deposit over the sale of a car. The IRS gives rewards to bank employees if they report (successful conviction) any suspicious behavior. I still don't know why I was flaggged. Probally because I had long hair at…

I hope we wouldn't have to go through a bunch of sleepless nights for doing nothing bad. There are semi random checks of "suspicious behaviour" being done in masses. These things can get out of hand sometimes (redefining what suspicious is...), when those elected get a bit crazy

Re: Poly Network hacker returns $258M after stealing $600M

#108

Post by ralfd »

hamburgerwah wrote: post #16

I haven't seen any evidence there was in fact a hack at all. A digital contract was used in a way that complied with the contract that the bonehead writers of that contract did not intend. That's it. If bad contract writers get to cry "hack" and beg for their money back there is no point to digital contracts at all. If someone had physically or electronically broken into systems and illicitly copied private keys that…

But "breaking" electronically into a system also only executes (erronous) permissible actions? Where do you draw the line?

Reading this a hash collision was exploited:

https://rekt.news/polynetwork-rekt/

> Well... here's the actual sighash of the target function:

> http://ethers.utils.id ('putCurEpochConPubKeyBytes(bytes)').slice(0, 10)

> '0x41973cd9'

> And the sighash that the attacker crafted...

> http://ethers.utils.id ('f1121318093(bytes,bytes,uint64)').slice(0, 10)

> '0x41973cd9'

> Fantastic. No private key compromise required! Just craft the right data and boom... the contract will just hack itself!

Re: Poly Network hacker returns $258M after stealing $600M

#110

Post by bondarchuk »

jshen wrote: post #9
PragmaticPulp wrote: post #6

The article tries to imply that the hacker had a change of heart after a public plea to return the funds. In reality, parts of the crypto community moved quickly to block transactions involving the funds and some security researchers claimed they had solid leads on tracking down the hacker’s identity. I think the hacker realized that if their identity was compromised then the legal system wouldn’t look kindly on some…

I love how the crypto community encourages circumventing laws, UNTIL someone steals from them using their own “smart” contract then calls on authorities for help.

"The crypto community" is not one person.
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