this post was submitted on 16 May 2024
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276
MIT Students Stole $25 Million In Seconds By Exploiting ETH Blockchain Bug, DOJ Says (slashdot.org)
submitted 7 months ago by [email protected] to c/[email protected]
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[โ€“] [email protected] 2 points 6 months ago (1 children)

Exactly, companies and services have scammed users, but the core protocol is as good or better today than it was in 2010 and it has not been hacked. Trust me, many people would be extatic to see it happen. The fundamentals are rock solid.

[โ€“] [email protected] 3 points 6 months ago* (last edited 6 months ago)

My point is that its lack of regulation and decentralization makes it more vulnerable to the types of attacks that actually matter, namely market manipulation, fraud, and scams targeting specific accounts through social engineering. Those are already the biggest problems with FIAT, and crypto just intensifies them by removing existing protections.