Crypto Dev Enters Wrong Command, Destroys Entire Company

Reminds me of when Knight Capital lost $440 million dollars due to a software error (1) purely without crypto.

1. https://archive.nytimes.com/dealbook.nytimes.com/2012/08/02/...

Stories like these make it seem so much more plausible that an evil villain's volcano lair would have a self destruct button on the main control console.

> We immediately searched the relevant topic on Solana discord, and also asked a core dev from Solana

Welcome to clownworld, where searching discord for "is there any way to recover $X millions" is something you do after putting all of your users' assets in.

To clarify: mistakes happen, but being so unaware of the consequences that you feel a random discord is a more authoritative source than your own understanding indicates more than a little negligence.

I have been contracting as a blockchain developer for the past 4 years. The clients have very little insight into the technology and have 0 standards in who they hire, they just hire whoever sounds good. Scammers from India can just throw a few buzzwords and get an upfront fee then disappear. The clients hire the cheapest offer then come and complain to us about what happened.

Also discussed 6 days ago: https://news.ycombinator.com/item?id=32673000

I haven't deployed anything serious to ethereum mainnet and yet the stress of getting the command right and not messing up the private key or something is real, like no other deployment that I have ever experienced.

I'm very curious how this will be solved (if ever), because no matter how good your process is, errors will happen, and boom! there goes your company/money/whatever.

Further technical explanation here: https://twitter.com/OptifiLabs/status/1564367455220219904

I don’t get it, could someone who understands explain how this worked out? Like, wasn’t it on some kind of blockchain? like did they send their stake to the “ether”? (buh dum tiss)

This isn’t making obvious sense to me based on how very little I have paid attention to what these defi platforms actually do.. aren’t the coins and exchanges just nodes and a P2P distributed database with consensus driven transaction records, asymmetric encryption, metadata and some rules?

No data backups of the blockchain could be found?