...feature of just about every Crypto wallet or exchange out there.
As much as $35 million worth of cryptocurrency may have been stolen in a large-scale attack on Atomic Wallet users, with one investigator claiming losses could potentially exceed $50 million. The Atomic Wallet app's makers first reported June 3 that some folks were complaining some crypto had been taken from their wallets and …
When are they going to start regulating this sort of misleading crap like any other financial services sector? Oh hey your stolen funds are *still* safely stored on the blockchain in someone else's address. Look at that.
Or better yet just ban crypto-currency completely. Now it can credibly be claimed it's exacerbating the proliferation of nuclear weapons to a state incapable of making peace with it's neighbour in 70 years there is some decent big picture justification even for those happy with the day-to-day security consequences.
>"... better yet just ban crypto-currency completely"
Evidence of a misunderstanding of crypto-currency. Short of shutting down the ENTIRE Internet it cannot be banned or blocked. And if the entire Internet is shut down, then all traditional fiat banking is gone and it is TEOTWAWKI anyway.
Of course it can be banned. It will still exist like stolen old masters and child porn are banned yet exist, but your average law abiding citizen won't put their life savings into it, and even your average non-law abiding citizen will have extreme difficulty finding an institution happy to flaunt the layers of international money laundering law built up in recent decades.
The advocates who think it can't be brought down by governments are evidencing a misunderstanding of the power of the real world economy. It's a nice idea crypto-currency is untouchable by governments but it ain't true. The crypto part is (probably) untouchable, yes. The currency part, not so much.
Based on the article it seems the thieves primarily went after larger values. If they had every user’s priv keys you’d think they would take everything (many small balances = one large balance).
The targeted nature might imply phishing. Would be interested to see how many victims use gmail after their recent “stamp of approval” SNAFU…