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> Contacted Binance Authorities immediately to block the hacker(s) fund transfers I don't understand this part. I thought crypto was decentralised and so nobod
by secondcoming 5y ago
> Contacted Binance Authorities immediately to block the hacker(s) fund transfers
I don't understand this part. I thought crypto was decentralised and so nobody controls anything. Yet, this suggests the opposite... some entitiy somewhere can shut you out on a whim.
- tylersmith 5y agoNobody can force you to do business with them. Binance can't stop the transaction they can just not do business with that person.
- vmception 5y agolol wrong. The validators can coordinate to make a transaction invalid on that blockchain. They wont though because of theyll lose a lot of confidence in their network, and users can exit their funds across the bridge very quickly.
- TimJRobinson 5y agoThis is on the Binance chain which is a fork of Ethereum that is partially centralized. A lot of crypto purists refuse to use it for this reason.
- vmception 5y agoThat blockchain is controlled by 21 validators of which Binance itself is many. They wont and dont block the transaction though. The bridges to other blockchains are very fast, and hacker would be prudent to move their funds immediately to a blockchain with greater security.