A hacker stole $31M of Ether – how it happened, and what it means for Ethereum

Re:A hacker stole $31M of Ether – how it happened, and what ... by icelancer on Friday July 21, 2017 @04:06AM (#14818871)

>Eventually people will generally understand that contracts require serious correct engineering, and you'll be able to capitalize on expertise.

No one gets paid for exploiting a minor hole in a bridge, causing it to collapse. They will by finding holes in smart contracts, as evidenced.

Bug bounty programs do not exist to provide alternative means of financial remuneration for black hat hackers. They exist to provide white/grey hat hackers an opportunity to get paid for doing the right thing. And yet black hat hackers still sell zero-days to rogue governments and operatives.

Why do you think this bug bounty model of securing smart contracts will be any different? Capitalizing on expertise against smart contracts has its own reward with a shorter feedback cycle than selling zero-days: You directly profit from finding security breaches and stealing money.

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Re:A hacker stole $31M of Ether – how it happened, and what ... by mbrock on Friday July 21, 2017 @05:17AM (#14819114)

I think we'll be able to just prove the correctness of our contracts and then use them safely. Of course you can't do that with Microsoft Windows because it's too complicated, but you can do it with small contract bytecodes.

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