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It has nothing to do with any currency or protocol. It was a broken feature in a piece of software used on the network that was bad. Unfortunately, it was widel
by 52-6F-62 9y ago
It has nothing to do with any currency or protocol. It was a broken feature in a piece of software used on the network that was bad. Unfortunately, it was widely used and somebody caught the fault and exploited it.
It's more like a company's open source software allowing somebody to steal your bank password. It doesn't have anything to do with USD or the Fed, or even the bank's larger practices. It has to do with how negligent they were with regard to a particular feature.
- vkou 9y agoOf course, there is a very large financial system designed to deal with the fallout of a bank password being stolen. There is no such system with crypto-currencies.
- dahdum 9y agoThis...it was a poorly written contract just like the DAO was. Parity developers didn't follow the most basic contract safety steps, and people used it because they trusted them too much. Each of these situations is a painful learning experience, but moves the platform forward.