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In the Bangladesh central bank case, hackers broken into their internal networks, got access to payment credentials, and issued $950 million worth of transactio
by ProblemFactory 10y ago
In the Bangladesh central bank case, hackers broken into their internal networks, got access to payment credentials, and issued $950 million worth of transactions.
$850 million was blocked before they went through, and about $40 million of the remaining has since been recovered.
How would a blockchain have helped in preventing or recovering from this attack? If the hackers got access to their blockchain credentials, they would have been able to issue similar transactions. It would just have been much harder to block the transactions or reverse and recover them after the fact. It seems to me that running this on a blockchain would have made things worse, not better.