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So there will be several controls here on both the issuance and reward stage. Letters will be issued to vetted privateers, and will be for specific targets rath

So there will be several controls here on both the issuance and reward stage. Letters will be issued to vetted privateers, and will be for specific targets rather than a blank check to hack whoever they want. Victims won't be suing, but maybe they can bring potential targets for privateers or those issuing letters of marque, they will simply be involved in the prize courts when seized funds are distributed. It's easiest to envision what the privateers are seizing in crypto and ransomware because you're mostly dealing with funds, but privateers can also go after systems and bounties for affecting the capture of malicious hackers. Most of the current attackers are situated in non extradition countries so currently there's no real recourse. The scammer gets exposed type video are because the video can't do anything right now except what they are currently doing without breaking some serious laws. The general process is congress will identify an attacker, or have a submission process, and white hat groups will petition for a letter of marque, where they go through a vetting process. The white hats will then steal back any stolen funds, and go before a prize court that will determine if their actions were legal, if the target was valid, and how prizes should be distributed between victims and the privateers.

lurk2 2y ago
> The white hats will then steal back any stolen funds, and go before a prize court that will determine if their actions were legal, if the target was valid, and how prizes should be distributed between victims and the privateers. So the targets are determined by the state, and the costs of retaliating are assumed by the private sector; that sounds better than what I was originally envisioning. The government is effectively operating a bounty office, with the chief difference being that the bounty is paid out only after the successful recovery of the funds. It’s an interesting idea.

lurk2 2y ago

> The white hats will then steal back any stolen funds, and go before a prize court that will determine if their actions were legal, if the target was valid, and how prizes should be distributed between victims and the privateers. So the targets are determined by the state, and the costs of retaliating are assumed by the private sector; that sounds better than what I was originally envisioning. The government is effectively operating a bounty office, with the chief difference being that the bounty is paid out only after the successful recovery of the funds. It’s an interesting idea.