move fast and break things.....
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replyyea, break things... like your legs
replyIs that just code for "inside job"?
replyNot necessarily. But I believe they said that the laptop was hacked.
replyBillions at stake in a service that is highly used to launder money, exchange illegal goods, etc.
replyWhoever went for this has some balls.
regulations are bad and inhibit innovation
replywhat kind of regulations would serve this particular scenario?
replyThe hack is purely technical in nature.
This could have been the FED's system that got compromised and the response would have been the same.
Oh, no, sorry - it wouldn't because we wouldn't even know it happened as FED is fully opaque while crypto is quite transparent.
In that sense crypto is much more democratic because at least there's some ability for the public to audit it. With FED there's none.
Check out any regulated banks audit process for how to secure systems that touch money
reply> what kind of regulations would serve this particular scenario?
replySeparation of duties so more than one person is needed to create and then approve such transactions?
Security, nobody cares about it.....
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