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All these Web3 companies have a seriously difficult problem to solve -- you want to hire the best and brightest engineers to really lock-down your systems, but

All these Web3 companies have a seriously difficult problem to solve -- you want to hire the best and brightest engineers to really lock-down your systems, but how would you prevent a core dev from 'accidentally' enabling some obscure attack and then going home that night and exploiting it? Hackers here are going to clear tens of millions of dollars.. an A++ rockstar engineer maybe makes $1M/year in total comp? How would you ever prevent insider attacks? How can you or the police tell the difference between a coding mistake and an intentional exploit?

latchkey 4y ago
multisig. no different than any other large company. Even our finance department uses multiple real signatures to sign off on large invoices.
- mikeyouse 4y ago
  As does ours - but they manually review things to give them a 'sense check'. That doesn't scale at all to the crypto world where the concept is permissionless and instant transfers. Said differently, how would you implement multisig in a setup like Nomad and prevent this type of attack?
  - latchkey 4y ago
    I've been harping on this part of DeFi for a long time... developers should be writing very good tests. Along with that, security reviews should be followed. This is the review in question [1] where developers ignored the possibility of an issue. This is the commit [2] that likely caused the issue, no tests added. Along with a large chunk of "never brag about your security" hubris [3]. [1] https://news.ycombinator.com/item?id=32319344 https://news.ycombinator.com/item?id=32319344 [2] https://github.com/nomad-xyz/monorepo/commit/46d14571f3eada6ecf9ffce8fdc3adea11e73031#diff-45141e17961c00f6e486db12a2155e88d1c5e6dbc66410c62e37f9eb1e312e32L193-R187 https://github.com/nomad-xyz/monorepo/commit/46d14571f3eada6... [3] https://twitter.com/0xemon/status/1554310755071119361 https://twitter.com/0xemon/status/1554310755071119361

latchkey 4y ago

multisig. no different than any other large company. Even our finance department uses multiple real signatures to sign off on large invoices.

mikeyouse 4y ago
As does ours - but they manually review things to give them a 'sense check'. That doesn't scale at all to the crypto world where the concept is permissionless and instant transfers. Said differently, how would you implement multisig in a setup like Nomad and prevent this type of attack?
- latchkey 4y ago
  I've been harping on this part of DeFi for a long time... developers should be writing very good tests. Along with that, security reviews should be followed. This is the review in question [1] where developers ignored the possibility of an issue. This is the commit [2] that likely caused the issue, no tests added. Along with a large chunk of "never brag about your security" hubris [3]. [1] https://news.ycombinator.com/item?id=32319344 https://news.ycombinator.com/item?id=32319344 [2] https://github.com/nomad-xyz/monorepo/commit/46d14571f3eada6ecf9ffce8fdc3adea11e73031#diff-45141e17961c00f6e486db12a2155e88d1c5e6dbc66410c62e37f9eb1e312e32L193-R187 https://github.com/nomad-xyz/monorepo/commit/46d14571f3eada6... [3] https://twitter.com/0xemon/status/1554310755071119361 https://twitter.com/0xemon/status/1554310755071119361