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Sounds like if they had a checking account with their bank credentials stored in ENV variables and someone got access to that server it would be the same outcom
by mattbrewsbytes 5y ago
Sounds like if they had a checking account with their bank credentials stored in ENV variables and someone got access to that server it would be the same outcome.
The details of it being on a crypto-currency are interesting but when password/passphrase/private key security is poor it doesn't really matter the medium holding the money.
- openasocket 5y agoAren't there methods of rolling back transactions in the traditional banking system though? And additional validations on larger volume transactions?
- mplewis 5y agoThat's right. None of these protections exist in their sidechain.
- mrits 5y agoIt would be much different outcome that would probably lead to recovering the money.
- oefrha 5y agoNo, $625M transfer out of a single bank account would raise tons of eyebrows. No way it’s authorized by some env vars.
- no-dr-onboard 5y agoMaybe, but 30d ago it would have been "No way someone would store $625M USD in a game dev bank account".
- mattbrewsbytes 5y agoIf the hackers are sophisticated, I would think they would start wiring in much smaller amounts and thru accounts so tracing is harder. Much like what they are going to have to do with the funds in that wallet. If they setup some plausible 3rd party company the game studio could use and started transfers of $10k a pop it might be some time before anyone catches it.
- manquer 5y agoThat is slow anything over 10,000 in bank transfers will reviewed, and there will be a dedicated account manager for a 600m account. They are going to review and flag it. You might loose few hundred thousands but not all 625m.
- gamblor956 5y agoTransferring $650 million out of a corporate bank account would usually require in-person approval by a C-level officer, or at the very least, prior notice to the bank of the transaction.
- mtoner23 5y agoYeah, banks dont let you move this money without multiple levels of identity verification by both parties.
- arthurcolle 5y agoNot always true: https://www.vice.com/en/article/ne8p9b/offshore-bank-targeted-phineas-fisher-confirms-hack-cayman-national-bank https://www.vice.com/en/article/ne8p9b/offshore-bank-targete...