5 ms·

>On the contrary. It's the only case where maths can defend vs men with guns. Didn't work in this case.

by justinator 4y ago

zoklet-enjoyer 4y ago
They didn't have a system set up to protect against that. Their private keys were on a shared email account
- sillysaurusx 4y ago
  (Lol. Sorry for the empty comment, but this FTX situation is just a comedy gift that keeps on giving. I imagine in 5 years we’ll still be discovering new things to find funny about it.)
- throweroni 4y ago
  Holy wow. That's wild. Ten years ago when my crypto was worth barely anything I had an airgapped, full disk encrypted, RasPi which required a Shamir's Secret Sharing key arrangement to unlock as my cold storage... just because it was something fun to setup. Here a multi-billion dollar enterprise has less sophisticated OpSec. Just... wow.
  - causi 4y ago
    It was run by a dude who plays League of Legends on conference calls and openly encourages his employees to take amphetamines to increase their job performance.
    - DuskStar 4y ago
      > dude who plays League of Legends A dude who plays LoL badly. Embarrassingly badly for his number of games.
      - thaumasiotes 4y ago
        That is weird. If you're going to make League of Legends such a big part of your public image, you'd think you'd put at least a little bit of effort into it.
- justinator 4y ago
  That's on the level of this story, https://news.ycombinator.com/item?id=33536676 https://news.ycombinator.com/item?id=33536676
- deleted 4y ago
  [deleted]
alexeldeib 4y ago
Pragmatically I agree with you. But in GPs defense, I don’t believe these were multisig wallets with geographically distributed individuals in control. It was 1/1. Nonetheless, a metal pipe is a good counter to crypto.
- justinator 4y ago
  I fear if Bad Guys want money and you tell them something like, "you can't get it, it's on multisig wallets with geographically distributed individuals in control", that's still a You problem and you've only bought yourself a little time before they come back to collect, and/or break your legs if they can't collect. I may have to file this one under, "everyone wants to be a gangster until it's time to do gangster things"
  - Semaphor 4y ago
    At that point you are at "People want money you don't have and are willing to break your legs". No relation to crypto or even who you are anymore.
    - justinator 4y ago
      Unfortunately, if you owe bad guys money, they'll want it, no matter the excuse you give them. >No relation to crypto or even who you are anymore. The relation with crypto is that crypto doesn't solve this problem either.
      - Semaphor 4y ago
        It solves the problem, that the money is protected (in the same way that I assume something like "manual multisig", which I assume exists, solves the problem in traditional banking). Nothing can solve the problem of protecting you from "bad men" who want to hurt you and don’t care about anything else.

>On the contrary. It's the only case where maths can defend vs men with guns. Didn't work in this case.

zoklet-enjoyer 4y ago

They didn't have a system set up to protect against that. Their private keys were on a shared email account

sillysaurusx 4y ago
(Lol. Sorry for the empty comment, but this FTX situation is just a comedy gift that keeps on giving. I imagine in 5 years we’ll still be discovering new things to find funny about it.)
throweroni 4y ago
Holy wow. That's wild. Ten years ago when my crypto was worth barely anything I had an airgapped, full disk encrypted, RasPi which required a Shamir's Secret Sharing key arrangement to unlock as my cold storage... just because it was something fun to setup. Here a multi-billion dollar enterprise has less sophisticated OpSec. Just... wow.
- causi 4y ago
  It was run by a dude who plays League of Legends on conference calls and openly encourages his employees to take amphetamines to increase their job performance.
  - DuskStar 4y ago
    > dude who plays League of Legends A dude who plays LoL badly. Embarrassingly badly for his number of games.
    - thaumasiotes 4y ago
      That is weird. If you're going to make League of Legends such a big part of your public image, you'd think you'd put at least a little bit of effort into it.
justinator 4y ago
That's on the level of this story, https://news.ycombinator.com/item?id=33536676 https://news.ycombinator.com/item?id=33536676
deleted 4y ago
[deleted]

alexeldeib 4y ago

Pragmatically I agree with you. But in GPs defense, I don’t believe these were multisig wallets with geographically distributed individuals in control. It was 1/1. Nonetheless, a metal pipe is a good counter to crypto.

justinator 4y ago
I fear if Bad Guys want money and you tell them something like, "you can't get it, it's on multisig wallets with geographically distributed individuals in control", that's still a You problem and you've only bought yourself a little time before they come back to collect, and/or break your legs if they can't collect. I may have to file this one under, "everyone wants to be a gangster until it's time to do gangster things"
- Semaphor 4y ago
  At that point you are at "People want money you don't have and are willing to break your legs". No relation to crypto or even who you are anymore.
  - justinator 4y ago
    Unfortunately, if you owe bad guys money, they'll want it, no matter the excuse you give them. >No relation to crypto or even who you are anymore. The relation with crypto is that crypto doesn't solve this problem either.
    - Semaphor 4y ago
      It solves the problem, that the money is protected (in the same way that I assume something like "manual multisig", which I assume exists, solves the problem in traditional banking). Nothing can solve the problem of protecting you from "bad men" who want to hurt you and don’t care about anything else.