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>That Blackwallet users routed through a Blackwallet domain to transmit money through the Stellar network (a) made this hack possible and (b) creates a KYC liab
by Klathmon 9y ago
>That Blackwallet users routed through a Blackwallet domain to transmit money through the Stellar network (a) made this hack possible and (b) creates a KYC liability.
No, it didn't. For starters, again nothing went "through" blackwallet servers. It's a one way communication of javascript from blackwallet to the user, then the user holds the data and signs transactions and sends it directly to the stellar network. I don't know the internals on how that last step happened, but even if it went back to blackwallet servers, they would be acting as nothing more than a proxy to enable broadcasting this transaction to the network from JavaScript. And if that makes you require KYC laws then verizon is about to have a really bad time because my encrypted credit card transaction went through their servers.
Just like how your relationship with the piggy bank manufacturer ends at point of sale, your relationship with blackwallet ends once you downloaded the JS. They do not hold any currency, they do not have access to any currency, they do not route any currency, they do not have any KYC obligations.