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A comment on $34M permanently locked into AkuDreams contract forever due to bad code. Parent comment

Re:$34M permanently locked into AkuDreams contract forever d... by 323 on Saturday April 23, 2022 @12:21PM (#31135643)
The DAO debacle showed that it's not really irreversible.

Thought experiment: a bug is exploited tomorrow which locks forever $50 billion worth of ETH, including of prominent VCs/users/exchanges.

You will see suddenly how consensus crystalizes to do a hard fork reversion of the exploit.

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Re:$34M permanently locked into AkuDreams contract forever d... by fidrelity on Saturday April 23, 2022 @01:50PM (#31136505)
Since The DAO incident 'the code is the law' ceased to exist on Ethereum. It became 'the majority interpretation of the code is the law'.
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Re:$34M permanently locked into AkuDreams contract forever d... by ironSkillet on Saturday April 23, 2022 @12:34PM (#31135775)
So things are only reversible when the vast majority of users get impacted? That does not seem like a recipe for a stable financial system. Too many individuals will get screwed over in edge cases to drive mass adoption.
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Re:$34M permanently locked into AkuDreams contract forever d... by kibwen on Saturday April 23, 2022 @01:03PM (#31136044)
> So things are only reversible when the vast majority of users get impacted?

Close, but not quite. It's not a democracy, it's a plutocracy. Things are only reversible when those few who hold the majority of the wealth are impacted.

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Re:$34M permanently locked into AkuDreams contract forever d... by thinkmassive on Saturday April 23, 2022 @01:03PM (#31136038)
The Parity multisig bug locked 509019 ETH, which is around $1.5 billion today
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Re:$34M permanently locked into AkuDreams contract forever d... by zapdrive on Saturday April 23, 2022 @01:13PM (#31136123)
The DAO fork was exceptionally sinister. In essence a new transaction was inserted into the Blockchain without an accompanying signature!
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