White hat hacker awarded $2M for fixing ETH-creation bug

Post by phist_mcgee » Mon, Feb 14, 2022, 9:17 AM UTC

AviationAtom wrote: post #290

Why is there such hostility towards crypto? I can understand the anger at Proof-of-Work cryptos, or perhaps the current somewhat "wild west" state of them, where fly-by-night operations work to separate people from their money, but ultimately I see them as the wave of the future. Ultimately I think the cryptos that see the most success will likely be those that can be better regulated, which is somewhat at odds with…

Post by sfoley » Mon, Feb 14, 2022, 12:57 PM UTC

hbbio wrote: post #2

It's not just any white hat hacker, it's saurik who was behind the original jailbreaking tools for iOS and the creator of Cydia, the unofficial app store back then. He is also now the "CTO" (if the term applies) of a well-known blockchain-based VPN, Orchid. Edit: He has a great write-up about the vulnerability and its discovery on his blog: https://www.saurik.com/optimism.html (which was on HN a couple days ago)

Post by sillysaurusx » Mon, Feb 14, 2022, 1:22 PM UTC

antishatter wrote: post #306

saurik wrote: post #213

Earlier quoted context omitted.

So, while I knew that this had been offered in back channels, I failed to realize that this was not only confirmed to me in e-mail as well as publicly announced: Boba (one of the forks of Optimism that was affected by this same bug) has additionally extended to me their maximum bug bounty reward of $100k, making the "updated total" awarded for this bug (so far ;P) $2,100,042 (which more firmly might be setting a new…

Not to be “that guy” but make sure you get an accountant to help you avoid like a $1m tax liability to the extent it is possible. Probably a lot you can do.

Post by odonnellryan » Mon, Feb 14, 2022, 1:58 PM UTC

dragonwriter wrote: post #296

heliodor wrote: post #295

Earlier quoted context omitted.

Gambling is not a waste of resources. It is a transfer of resources from one entity to another. It's a zero-sum game. On an individual level, gambling is roughly breaking even in the long run (say, 95% retention of the resources).

> Gambling is not a waste of resources. Yes, it is. > It is a transfer of resources from one entity to another. It's a zero-sum game. All real gambling consumes as well as transfers resources, and is, therefore, negative sum.

Post by IanCal » Mon, Feb 14, 2022, 2:10 PM UTC

HWR_14 wrote: post #197

toolz wrote: post #102

Earlier quoted context omitted.

If you're poor and gambling, then you're making a stupid financial decision. So the odds of you being financially stupid seem likely to be high.

If I'm about to be evicted or declare bankruptcy, does having $1 really change anything? Meanwhile, does having a small chance of staying in my house change anything? It's easy to say "well, lotteries have a negative expected payoff". And that's true, but it can still have a less negative payoff than a payday loan or having your car repossessed.