Hacker News Reader

Comment by justinator | Hacker News Reader

>On the contrary. It's the only case where maths can defend vs men with guns.

Didn't work in this case.

They didn't have a system set up to protect against that. Their private keys were on a shared email account

(Lol. Sorry for the empty comment, but this FTX situation is just a comedy gift that keeps on giving. I imagine in 5 years we’ll still be discovering new things to find funny about it.)

Holy wow. That's wild.

Ten years ago when my crypto was worth barely anything I had an airgapped, full disk encrypted, RasPi which required a Shamir's Secret Sharing key arrangement to unlock as my cold storage... just because it was something fun to setup.

Here a multi-billion dollar enterprise has less sophisticated OpSec. Just... wow.

It was run by a dude who plays League of Legends on conference calls and openly encourages his employees to take amphetamines to increase their job performance.

> dude who plays League of Legends

A dude who plays LoL badly. Embarrassingly badly for his number of games.

That is weird. If you're going to make League of Legends such a big part of your public image, you'd think you'd put at least a little bit of effort into it.

That's on the level of this story,

https://news.ycombinator.com/item?id=33536676

Pragmatically I agree with you.

But in GPs defense, I don’t believe these were multisig wallets with geographically distributed individuals in control. It was 1/1.

Nonetheless, a metal pipe is a good counter to crypto.

I fear if Bad Guys want money and you tell them something like, "you can't get it, it's on multisig wallets with geographically distributed individuals in control", that's still a You problem and you've only bought yourself a little time before they come back to collect, and/or break your legs if they can't collect.

I may have to file this one under, "everyone wants to be a gangster until it's time to do gangster things"

At that point you are at "People want money you don't have and are willing to break your legs".

No relation to crypto or even who you are anymore.

Unfortunately, if you owe bad guys money, they'll want it, no matter the excuse you give them.

>No relation to crypto or even who you are anymore.

The relation with crypto is that crypto doesn't solve this problem either.

It solves the problem, that the money is protected (in the same way that I assume something like "manual multisig", which I assume exists, solves the problem in traditional banking).

Nothing can solve the problem of protecting you from "bad men" who want to hurt you and don’t care about anything else.

Reply on news.ycombinator.com