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Comment by jjnoakes | Hacker News Reader

> And there are no legal ramifications or manners of recourse/restitution.

I'd appreciate a source on that... Both seem unlikely to me. More difficult perhaps, but impossible you say?

Well in crypto there does seem to exist a somewhat widespread notion of "code is law". If the existing business logic is used to do something undesirable (transfer all money to another person) - in such axiom set that action would be considered in line with the " law".

This notion is only used in context of smart contracts and on-chain virtual machine code.

This is in contrast to wallet implementations.

"code is law" has yet to be tested in courts. It is highly suspect that actual humans in a jury would all agree this is the case.

We'll have an answer (applicable to the U.S. at least) soon enough: https://www.coindesk.com/tech/2021/10/22/after-stealing-16m-...

Time to write code that indebts the user to you forever, then get FAMAGMA to use it.

Code is law.

Code law? You must be kidding. It is OK to chat about "Code Law" among like minded individuals always on the lookout to crack open the pirate's chest. It is a different story to explain to a judge: "sir, the bank had left the vault open during the fire alarm. I just helped myself with few $M. It is the bank's fault". Good luck.

If the smart contract is not the contract, then where is the actual contract? I imagine the judge would like to know that. If there's no contract, they'll have a hard time convincing anyone that there was a breach of contract.

Https://rekt.news - plenty of references

A list of compromises or exploits isn't a source for the claim that there aren't legal repercussions or avenues of recourse that could be pursued.

Wait, are you saying that there is recourse for reversing blockchain transactions?

See the DAO hack for precedent.

There's no result in court. So what's the recourse now at this moment ?

Additionally, they were lucky they could find the 16 yr old kid, otherwise they wouldn't known in which jurisdiction to sue :)

Welcome to the decentralized world!

Sorry, not following. The recourse I was referring to was a fork and modification of the transactions in question.

Okay, part of the subject was "legal repercussions" and i thought it was related to that.

Most hackers can't even be found, since it goes to tornado Cash and owners are clueless or it's an intern job.

So plenty of examples on that site.

What would the recourse be if none of the malicious actors can be found? ( In almost all cases).

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