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A comment on In second largest DeFi hack, Blockchain Bridge loses $320M Ether. Parent comment

Re:In second largest DeFi hack, Blockchain Bridge loses $320... by rafale on Thursday February 03, 2022 @07:24AM (#30191559)
Yeah but the regulations would be opt-in, for people who want a safe avenue. Anyone else will still be able to interact with the underlying permissionless blockchain network.
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Re:In second largest DeFi hack, Blockchain Bridge loses $320... by oblio on Thursday February 03, 2022 @08:00AM (#30191846)
Have you heard of social engineering?

"Hey, grandma, run this command and press enter and I'll send you the Fountain of Youth™ creme tomorrow."

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Re:In second largest DeFi hack, Blockchain Bridge loses $320... by rafale on Thursday February 03, 2022 @08:38AM (#30192201)
That works with the current banking system as well. That's what made the Nigerian scams so successful.
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Re:In second largest DeFi hack, Blockchain Bridge loses $320... by oblio on Thursday February 03, 2022 @02:01PM (#30197038)
Yup, but the current system is not a decentralized, immutable database.

At least you kind-of-sort-of have a chance at reverting a transaction.

Heck, my bank completely blocks my transactions over a certain limit (I need to ask for temporary limit increases through a separate process) and frequently delays transactions larger than another limit and they call me to verify that I want to do them.

Sure, blockchains could do the same, through intermediaries, but then... they've reinvented banks.

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