FTX US’s wallets appear to be hacked, $600M leaving the exchange

Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by hamiltonians on Saturday November 12, 2022 @01:11PM (#33575477)

this is not the same as protocol level censorship

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Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by VagueMag on Saturday November 12, 2022 @01:43PM (#33575769)

If authorities wanted to freeze a subset of DAI, could they do so by directing USDC to refuse to back those tokens?

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Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by X6S1x6Okd1st on Saturday November 12, 2022 @02:30PM (#33576225)

Nope they'd have to freeze the entire collateral that Dai has (~33% of all collateral they have rn), Dai could not freeze individual addresses and almost assuredly wouldn't even if asked.

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Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by VagueMag on Saturday November 12, 2022 @07:02PM (#33578525)

Ok, so, "blacklist these particular addresses or we will seize your entire collateral"?

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Re:FTX US’s wallets appear to be hacked, $600M leaving the e... by pcthrowaway on Saturday November 12, 2022 @02:50PM (#33576386)

There aren't USDC backing the DAI for any given DAI. If I have 5 DAI, you can't point to 3-4 USDC backing it (I think ETH backs it too).

Even if Circle did freeze some of DAI's USDC, the Dai contract does not contain the ability to freeze user funds, and I believe is also not upgradeable

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