81–90 of 211 posts
Earlier quoted context omitted.
But one point of the article was that he did have MFA - and it's no use in this scenario (attacker had physical access to second factor)
It's not really MFA if it's all done on your phone.
Aside: It's something I worry about sometimes too on phones...
I've been working in the payments industry on and off for 15 years. I am yet to work with a payment method that does not support reversal (except for physical cash). As a last resort victims can file chargeback with their issuers or police. To begin with there are several layers of protection built in at acquirer, issuer, network and so on. Almost at each step there's an option to reverse the payment (or issue a comp…
> I am yet to work with a payment method that does not support reversal Is CHAPS reversible? I don’t think it is. Or is it just not exposed as an option to institutions?
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>I am yet to work with a payment method that does not support reversal (except for physical cash). As a last resort victims can file chargeback with their issuers or police. What about the stories of companies being scammed via wire transfer?
Wire transfers can be reversed in some cases but it's not as simple as filing a chargeback; AFAIK it requires cooperation between law enforcement and the recipient bank.
I've been working in the payments industry on and off for 15 years. I am yet to work with a payment method that does not support reversal (except for physical cash). As a last resort victims can file chargeback with their issuers or police. To begin with there are several layers of protection built in at acquirer, issuer, network and so on. Almost at each step there's an option to reverse the payment (or issue a comp…
Earlier quoted context omitted.
I prefer to use security by obesity. Meaning I won't get any Tinder dates so my accounts are safe.
Overweight people are worthy of, and capable of, finding love. I know your comment is in jest but it also propagates negativity in a way that is corrosive to others’ self-worth. For those who read your comment and feel bad that the humorous angle is reality to them… it isn’t. Don’t let the world make you feel bad about yourself. For those who read it and get a chuckle about fat people… your world view may benefit fro…
Because being overweight is not you being the best version of yourself. Your health, energy, romantic life, and likely even career would improve if you did something about the problem. It is something that's entirely within your control to do something about.
Life is short, it's too short to spend it fat. The best time to take action is now.
I've been working in the payments industry on and off for 15 years. I am yet to work with a payment method that does not support reversal (except for physical cash). As a last resort victims can file chargeback with their issuers or police. To begin with there are several layers of protection built in at acquirer, issuer, network and so on. Almost at each step there's an option to reverse the payment (or issue a comp…
> I am yet to work with a payment method that does not support reversal (except for physical cash). I'm not sure I get your objection: Physical cash is exactly the use case for bitcoin. There will be financial services and other layers built on top of bitcoin, just as it is done for the dollar, and we are seeing the nascent industry now. (Whoever provides insured services first is going to make a mint.)
If so the problem becomes, is your personal security up to defending attackers who want to take your pile of digital gold.
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You're free to believe that I (the author) made up this story. I'm not a fiction writer; the Bitcoin security space is exciting enough without needing to waste time making stories up. I'll note that we have seen several folks report being victims of similar attacks since we published this article. https://twitter.com/Disruptepreneur/status/14131498654759075... https://twitter.com/jayzalowitz/status/141316518720545588…
FYI this comment actually had the effect of confirming that the story is all but made up - there is nothing remotely resembling evidence anywhere, including in this ostensibly defensive comment.
Surely after you get roofied after a tinder date with an attacker draining your crypto accounts, you'd file a police report and maybe we'd hear about it in the media?
Earlier quoted context omitted.
> I am yet to work with a payment method that does not support reversal Is CHAPS reversible? I don’t think it is. Or is it just not exposed as an option to institutions?
Most of these systems are not actually reversible at the protocol level. They sometimes offer cancellation at stages prior to settlement. When needed, transactions are most often "reversed" at the governance level.
Cryptocurrencies offer a single property that is both good and bad: there is no authority who can reverse or block a transaction against the will of the participants. Lawsuits and criminal proceedings can cause government authority to direct banks and financial institutions to do what they say. Government can set rules to block transactions, or to demand more identification to be tied to a transaction. Even cash can…
When does non-reversal ever benefit the average Joe?
The only scenarios I can think of is when you transact with non-trustable sources. E.g. buying “stuff” off the darknet (and even here you usually have an escrow).
And that’s just not a use case in most people’s everyday life.