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Social engineering scam that nearly cost me all of my ETH
341–350 of 423 posts
Re: Social engineering scam that nearly cost me all of my ETH
#342Earlier quoted context omitted.
What exactly is censored when you use paper currency?
The amount. A real example is CNY, which is limit to 100 yuan notes, deliberately to make it hard to move large sums. 1000 USD bills exist but are very rare. 1000 euro note exists but I think that’s on the way out. Your point that cash is censorship resistant is good, yes and we need to make sure it remains, however the physical limitations are defacto censorship.
>> 1000 USD bills exist but are very rare.
Technically, $500, $5000, and $10000 also exist in private collections. They were last printed in 1945, and stopped being issued in 1969. They're worth far more than their denomination to collectors, understandably.
Also, technically, $100k bills exist. They, however, were printed during the Great Depression and intended solely for transfers between federal reserve banks, and were never circulated. It's illegal to hold them privately, though there are some museums and things that have one.
Re: Social engineering scam that nearly cost me all of my ETH
#343Note to self:
-invite Thomas to a private Airbus VTOL demo day in another city
-buy him first class ticket
-offer to send a limo to the airport
-send a limo with a big guy holding a wrench
-instant $100mil profit
Re: Social engineering scam that nearly cost me all of my ETH
#344Earlier quoted context omitted.
Think of all the scams happening over TCP/IP every day! They built this thing where anyone can pretend to be a bank website? No checks or security? It's laughable. I'm in disbelief. And this is the web?
There are checks in place to make difficult to buy an SSL certificate for the official domain of a bank. At least Chrome tracks malicious websites. By comparison, there seem to be no checks in place to prevent writing an ethereym contract that drains a victim’s wallet.
There a number of services that provide blacklisted addresses to help people avoid scams or to prevent stolen funds from being laundered.
Re: Social engineering scam that nearly cost me all of my ETH
#345> I'm the founder of Arrow, a DAO working to build open-source VTOL aircraft and air taxi protocol.
I don't understand why a startup working on aircraft design is linked to crypto at all. If you have $100M in ETH, the first thing to do is to convert it to USD and put it in a bank, preferably a large one. Then use the money to run your startup. Why would you keep your money in a crypto wallet? Why would you model your startup as a DAO?
Re: Social engineering scam that nearly cost me all of my ETH
#346Earlier quoted context omitted.
itunes isnt p2p
You missed the point. People wanted easy access to music, itunes provided that service. Right now with the world of crypto is confusing to the average guy, so hopefully in the future someone will create a good UX and the underlying to protocol for instant decentralised payments.
Or they could use a bank. They generally have fine UIs and secure protocols.
Re: Social engineering scam that nearly cost me all of my ETH
#347Earlier quoted context omitted.
You missed the point. People wanted easy access to music, itunes provided that service. Right now with the world of crypto is confusing to the average guy, so hopefully in the future someone will create a good UX and the underlying to protocol for instant decentralised payments.
Or they could use a bank. They generally have fine UIs and secure protocols.
and how are you going to pay when the bank closes your account because you broke their terms and conditions. That is where you need decentralized payments.
Re: Social engineering scam that nearly cost me all of my ETH
#348I can get behind cryptocurrency and stuff, but the idea that anyone can write a contract that says "I get to do what I want with your money" and then build their own custom, one of a kind UI with no way to limit what the user thinks the button does for you to sign such a transaction, it's got to be the biggest, most massive security hole I've ever seen brushed off. You want me to put the title to my house on it? You…
This isn’t how it works. With ERC20 you “approve” tokens. That allows the specific contract you approve to spend up to a specific tokens at that specific address. Things that a random smart contract cannot do: 1) Spend more tokens than the amount you approved. 2) Spend any other tokens besides the specific type that you approved. (E.g. can’t steal your NFT or USDC) 3) Spend tokens at any other wallet address even if…
Thank you, I was going to explain this.
I have seen contracts approve your entire supply though without mentioning it. That would allow the contract to come back at any time, with no user action, to take more coins out.
Just be wary of "Approving" contracts before using them on DeFi apps. That first approval confirmation is the most important as you're basically handing them that much coin and trusting them to give it all back.
Re: Social engineering scam that nearly cost me all of my ETH
#349Earlier quoted context omitted.
Think of all the scams happening over TCP/IP every day! They built this thing where anyone can pretend to be a bank website? No checks or security? It's laughable. I'm in disbelief. And this is the web?
There are checks in place to make difficult to buy an SSL certificate for the official domain of a bank. At least Chrome tracks malicious websites. By comparison, there seem to be no checks in place to prevent writing an ethereym contract that drains a victim’s wallet.
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Re: Social engineering scam that nearly cost me all of my ETH
#350Earlier quoted context omitted.
Think of all the scams happening over TCP/IP every day! They built this thing where anyone can pretend to be a bank website? No checks or security? It's laughable. I'm in disbelief. And this is the web?
There are checks in place to make difficult to buy an SSL certificate for the official domain of a bank. At least Chrome tracks malicious websites. By comparison, there seem to be no checks in place to prevent writing an ethereym contract that drains a victim’s wallet.
The ACH banking protocol doesn't have these either.
This isn't Ethereum's job.
It's an L2's job. Whichever ones you choose to engage with. But, they'll all be interoperable.