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Agreed, the Bitcoin transaction(s) which stole and moved the funds out of the exchange did have finality. The entire premise of crypto is that whoever knows the
by cryptica 5y ago
Agreed, the Bitcoin transaction(s) which stole and moved the funds out of the exchange did have finality. The entire premise of crypto is that whoever knows the private key controls the account... So this is essentially a seizure of an account. The seizure of funds has nothing to do with finality and everything to do with laziness, complacency and neglect.
If the hacker had hidden their private keys in a secret location (or just memorized them), they could almost certainly have gotten away with it. The hackers were extremely neglectful. It's a testament to Bitcoin's security that it took so many years to be caught given this level of carelessness and the massive amount of money involved.
Some people in the Bitcoin community think the news is fake and intended to harm Bitcoin's reputation... We don't know what really happened behind the scenes. It's hard to believe that people can be so careless.
- DennisP 5y agoI don't see why it would harm Bitcoin's reputation. It's always been clear that you have to be careful with your keys, and extraordinarily careful if you want to protect them from the government.