30 sats \ 4 replies \ @notgeld 29 Jun 2022 \ on: deleted by author bitcoin
Everybody could get rekt in any ways.
Telegram bot LNTXBOT has been hacked several times but @fiatjaf continues supporting it and it is great.
Providing services might be risky and for Compass Mining I could say that they had their Kazakhstan moment, they had their Russia moment. I assume they might loose something as a result. I hope they can sort it out somehow.
Yes I understand. Proper self-custody eliminates 99.9% of problems and loss vectors though. Bitcoin is too early in its monetization phase for a robust yield curve and lending market, especially considering there are no regulations or consumer protections, thus this 1929 moment for the space. Bitcoin is decentralized money, that's the innovation. Separation of money from state is the radical idea. When it's absorbed enough trust (value) its confidence curve (volatility) will flatten. So many people trying to rush things. We're trying to be the world reserve money, not some discrete payment network. The burden is enormous and time consuming.
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Any sources on the LNTXBOT being hacked? That sounds interesting.
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Here's one:
A group of thieves have exploited a very subtle vulnerability on @lntxbot yesterday and stolen ~14 million sats.The bot will be offline while we figure out what to do next.
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This is from Telegram chat. But one epic proof you can find in Allister Milne's Twitter. He refunded damage.
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