Code is LOL
2022-04-21 23:52:25.994654+02 by Dan Lyke 0 comments
More commentary on the "Beanstalk" cryptocurrency getting wiped out that I mentioned earlier this week: Code is LOL
To describe the Beanstalk incident as anything other than a system working as intended is giving cryptocurrency developers far more credit than they deserve. This “$182 million hack” is the predictable, replicable result of directly connecting every cent within a project to a codebase, and allowing said codebase to directly create transactions with that money. It is libertarian democracy - you can vote, your vote matters, but all that really matters is who - and this can be one person - has the most votes, which in many cases can be as simple as “who has a lot of money.”