In other words: ETH was an insecure blockchain and once compromised, there is no legal or operational recourse, with the implication that issues could indeed exist today. House of Cards.
No post body was provided.
White hat hacker awarded $2M for fixing ETH-creation bug
51–60 of 354 posts
Re: White hat hacker awarded $2M for fixing ETH-creation bug
#52Prior discussion of this incident (and the $2M bounty) here on Hacker News: https://news.ycombinator.com/item?id=30289240 My (I'm the hacker) article / post-mortem this blog post is referring to: https://www.saurik.com/optimism.html At the time of this last getting traction a few days ago, some people were sad that the title of my article and the discussion that resulted focused more on the bug instead of the bounty…
So how many lambos are you buying? More seriously, will you keep it in the bank and extract $100k a year the rest of your life? What are you going to do?
Don’t forget about taxes. Most of it is getting taxed at least 37%
Re: White hat hacker awarded $2M for fixing ETH-creation bug
#53Earlier quoted context omitted.
So how many lambos are you buying? More seriously, will you keep it in the bank and extract $100k a year the rest of your life? What are you going to do?
I do not expect to make any major expensive lifestyle changes as a result of having more money (and to the extent to which I have already been being paid better recently due to working on Orchid, I have only barely done so and usually only quite temporarily), which I realize disappoints some people who had wanted me to post a concrete picture of something expensive I purchase to help motivate others to reach for bug…
> I can't imagine myself buying a pointlessly extravagant car; and, sadly, now is a bad time to buy a car anyway
Get a fun car that can be a hacking project :)
I was suggested a police car by a friend. They are cheap at auctions, more or less well maintained (tax payer money) and have interesting internals (check sites like https://www.dippy.org/upgrade/dipcop.html) especially for electrical circuits where a police-taxi-module lets you hook up to other functions.
And the laptop mount is a geek dream: your laptop right by you, charging, which doubles as a make-do coffee table at the drive through :)
Re: White hat hacker awarded $2M for fixing ETH-creation bug
#54Earlier quoted context omitted.
So how many lambos are you buying? More seriously, will you keep it in the bank and extract $100k a year the rest of your life? What are you going to do?
I do not expect to make any major expensive lifestyle changes as a result of having more money (and to the extent to which I have already been being paid better recently due to working on Orchid, I have only barely done so and usually only quite temporarily), which I realize disappoints some people who had wanted me to post a concrete picture of something expensive I purchase to help motivate others to reach for bug…
Please read this thread to see the pitfalls that might potentially lie ahead: https://www.reddit.com/r/AskReddit/comments/24vo34/comment/c...
It's about winning the lottery but still applicable to some extent, and shows how people's lives go horribly wrong.
Re: White hat hacker awarded $2M for fixing ETH-creation bug
#55> Had the issue not been promptly resolved, malicious users on the chain could have exploited the flaw. This means a cyber actor could have gained access to the unlimited generation of fresh ETH tokens.
I am curious, would it be easy to detect an individual who was exploiting this vulnerability?
Re: White hat hacker awarded $2M for fixing ETH-creation bug
#56Earlier quoted context omitted.
5% yoy risk-free is optimistic, realistically he can count on 50-60k. Close to fuck-you money but, for a lot of people, not there yet.
Rich people of HN, is this true? I’d always heard each million is worth about $50k a year. Was that just during boom times, or simply mistaken?
You mean in bad times when interest rates are higher, you can safely get that much from a million bucks. How during boom times when (at least these days) interest rates are cut to the bone, you’ll have to play the market for any kind of decent return (and take risks associated with).
Re: White hat hacker awarded $2M for fixing ETH-creation bug
#57No post body was provided.
Re: White hat hacker awarded $2M for fixing ETH-creation bug
#58It'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)
A jailbroken iPhone 3GS is the phone I've had the longest (nearing 5 years I think) and it was a joy to use, so thanks saurik and enjoy the bounty!
Re: White hat hacker awarded $2M for fixing ETH-creation bug
#59Earlier quoted context omitted.
Congratulations. I'm not sure if this was discussed in the previous thread, but does the bug allow the creation of real ETH coins, or it just increase the counter in the Optimism database (or whatever system they are using)?
Optimism is a blockchain quite a bit like Ethereum, so the "database" mental model might be a bit confusing for a frame here (as it isn't like they are some centralized service), but no: this doesn't let you directly create ETH (which would be much much more devastating); it only lets you create something we might call "OETH", which is Optimism-specific. The native currency on Optimism (used to pay gas, like ETH is u…
That's very interesting! Thanks for explaining! Let's assume some people would have wanted to bridge OETH back to Ethereum: with the potentially increased supply would it have meant that all the ETH on optimism could have become potentially worthless?
Re: White hat hacker awarded $2M for fixing ETH-creation bug
#60Prior discussion of this incident (and the $2M bounty) here on Hacker News: https://news.ycombinator.com/item?id=30289240 My (I'm the hacker) article / post-mortem this blog post is referring to: https://www.saurik.com/optimism.html At the time of this last getting traction a few days ago, some people were sad that the title of my article and the discussion that resulted focused more on the bug instead of the bounty…
So how many lambos are you buying? More seriously, will you keep it in the bank and extract $100k a year the rest of your life? What are you going to do?
You forget taxes. It’s roughly 1M post income tax.