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I still maintain that letting the assets come in and leave on a different blockchain within 24 hours is akin to a “RTFM” level mistake. If exchanges are entici
by zaroth 8y ago
I still maintain that letting the assets come in and leave on a different blockchain within 24 hours is akin to a “RTFM” level mistake.
If exchanges are enticing arbitrage through insanely quick setttlement and clearance times on the order of 2 hours after closing a position, they are just playing with fire.
If there wasn’t an actual trade, just transfering in and out, not chaining the transactions is similarly RTFM.
If the facts are as I understand them, I think the exchange bears a significant portion of the blame.
It’s like the story a couple weeks ago where Deutche Bank accidentally approved a wire transfer for $35 billion dollars.
- josu 8y agoExchanges are definitely playing with fire. Most crypto exchanges have probably more attack vectors than employees. Mitigating them is usually a tradeoff between security and UX. The most trustworthy exchanges don't even list shitcoins like Bitcoin Gold.