Official forum for Utopia Community
You are not logged in.
A portion of the money that was stolen from the famous loan platform Euler Finance on Saturday was returned by the assailant. ZachXBT, a well-known on-chain detective, claims that the attacker returned 3,000 ETH, or $5.3 million, out of the approximately $197 million they stole from the network.
A renowned blockchain security firm, Peckshield also confirmed this development. The firm identified three transactions that were used by the attacker to send the funds. It is necessary to note that this development comes barely a few days after Euler Finance announced a $1 million reward for anyone willing to provide necessary information to tame the hacker. In the same vein, the protocol also asked the attacker to have a change of heart by refunding at least 90% of the stolen funds or risk possible jail term. Shortly after this announcement dominated the airspace, the attacker started moving the stolen funds to Tornado cash.
Offline
So, if I understand correctly, blockchain is not secure?
Offline
So, if I understand correctly, blockchain is not secure?
Don't get this wrong. Blockchain is secure and there's no way someone can break it even with the world's super-fast computer. However, the idea of Euler security is not secure at all and that is why it is important for us to make us of privacy.
Offline
Don't get this wrong. Blockchain is secure and there's no way someone can break it even with the world's super-fast computer. However, the idea of Euler security is not secure at all and that is why it is important for us to make us of privacy.
I was recently arguing about the reliability of blockchain, and people did not believe in its security. Their argument was that it is "digital" money, which can disappear in an instant. The same could be said about paper money, inflation and so on. People do not want to switch to something new, even if the old system is rotten.
Offline
So, if I understand correctly, blockchain is not secure?
Blockchain technology creates a data structure with inherent security properties. It is based on cryptography, decentralization and consensus principles to ensure the reliability of transactions. Therefore, miners are the ones who power the network and keep transactions running smoothly.
Offline
thrive;6322 wrote:Don't get this wrong. Blockchain is secure and there's no way someone can break it even with the world's super-fast computer. However, the idea of Euler security is not secure at all and that is why it is important for us to make us of privacy.
I was recently arguing about the reliability of blockchain, and people did not believe in its security. Their argument was that it is "digital" money, which can disappear in an instant. The same could be said about paper money, inflation and so on. People do not want to switch to something new, even if the old system is rotten.
If people do not want to switch to 21st-century internet money you do not need to force them cause it's normal because some people are always behind in new technology while some see it as a hindrance.
Offline
Cat;6338 wrote:thrive;6322 wrote:Don't get this wrong. Blockchain is secure and there's no way someone can break it even with the world's super-fast computer. However, the idea of Euler security is not secure at all and that is why it is important for us to make us of privacy.
I was recently arguing about the reliability of blockchain, and people did not believe in its security. Their argument was that it is "digital" money, which can disappear in an instant. The same could be said about paper money, inflation and so on. People do not want to switch to something new, even if the old system is rotten.
If people do not want to switch to 21st-century internet money you do not need to force them cause it's normal because some people are always behind in new technology while some see it as a hindrance.
despite how cryptocurrency has become extremely popular over the past few years, through its benefits which include cheaper and quicker money transactions and decentralized systems that do not fail at a single point some people still wont like but when all the fiat currency lose value they will like crypto.
Offline
despite how cryptocurrency has become extremely popular over the past few years, through its benefits which include cheaper and quicker money transactions and decentralized systems that do not fail at a single point some people still wont like but when all the fiat currency lose value they will like crypto.
))) , so it's worth stocking up on crypto and waiting for it to surge.
Offline