Blockchain company offers $1 million reward for theft of $100 million in ether and other crypto

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Originally published at: Blockchain company offers $1 million reward for theft of $100 million in ether and other crypto | Boing Boing

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Where do people get the bright idea to convert their life savings to Ethereum?

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Wasn’t avoiding this the whole point of blockchain? “If it’s so complex I can’t reasonably explain it to you, it must be secure!”

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dr-evil-one- million-dollars

I don’t get out of bed for less than 10 million.

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I’m shocked that immutable-code-as-law-smart-contract-etc. is not at the top of the agenda now that it has proven inconvenient; and we’ve more or less fully re-adopted legacy description of software vulnerabilities and ‘theft’, despite glorious defi not dealing in such fiat slave concepts.

So, um, back to the usual buzzwords in a couple of weeks after this blows over?

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What’s so great about cryptocurrency is that they can ignore outdated costs like paying for FDIC.

/s

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Behold the Libertarian techbro financial paradise! Coming soon to a Web3 near you (if they have their way).

But the FDIC is the bad ol’ government. Something something “moral hazard” and nanny state. Who needs them meddling in this wonderful and perfectly rational “free” market?

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Empirically, the conversation has already been started.

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I’m sure Harmony has a lot of responsibility-dodging language in their adhesion contract fine print, but on the bright side, they probably pay their legal people like they do their tech-security people.

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Depending on the timing of the theft, that $1 million could be worth more than the $100 million of crypto is now…

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$100 million in ether and other crypto

<snicker> That’s a good one.

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This is why all my investments are tied up in Boba Fetts. No fear of hackers!

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I’m betting that “million dollar reward” is going to be paid out in crypto, meaning it’s probably a $3 value.

Unless they’re talking about the energy costs used to transfer the reward to you. That could be a million dollars at the current price of gas.

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I was gonna ask, “Is that USD dollars or wanktacular cryptocurrency?”

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So all the theft, fraud, and techbro libertarian nonsense aside, this struck me. Can you imagine if your bank created a public access message board tied to your bank account?

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oh crypto bros, will your quest to make gold hoarders look semi-reasonable in comparison ever end?

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