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February 23, 2018, 10:20:51 PM
Last edit: February 24, 2018, 10:22:09 PM by adekogbe |
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I have been Thinking about blockchain based decentralized exchanges for a while and some questions come to mind..
Firstly I will like to consider the example of coincheck and the 530 million hack of NEM tokens.
Coincheck froze transactions on its platform, holding plenty of virtual wealth hostage in the process.
Although they promised to pay back the owners of the stolen tokens and the best NEM could do at the moment is tag the stolen tokens.
As far as I am concerned, the tokens may be lost for good.
Now here are my questions:
1. Are decentralized exchanges really airtight from this sort of hacks?
2. being decentralized I don't think anyone can be held to account for the lost tokens, so In a case where this happens what is there for the customers?
3. How do you think crime acts like hacks and scams will affect the crypto universe's fight against regulation by the SEC and other regulatory bodies?
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