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MIT Students Stole $25 Million In Seconds By Exploiting ETH Blockchain Bug, DOJ Says (slashdot.org)

submitted 6 months ago by 0nekoneko7@lemmy.world to c/technology@lemmy.world

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[–] Ibaudia@lemmy.world 15 points 6 months ago (20 children)

True, but Crypto has been awash with scams from its inception. Blockchain inherently rewards those who engage with it deceptively since access to tokens = ownership, there are no take backsies, 0 consumer protections, and it's global.

[–] Sethayy@sh.itjust.works 0 points 6 months ago (2 children)

Honestly if I get scammed I don't have the time nor money to fight it, sounds like mostly protection for those at the top

[–] Ibaudia@lemmy.world 7 points 6 months ago (1 children)

If you get scammed using FIAT you can just call your bank and they can issue a chargeback through the card provider, especially if it's credit.

[–] Tachikoma741 1 points 6 months ago* (last edited 6 months ago)

That may be true. But then the transaction fees are at the mercy of the credit card company. My aunt pays 3% of all card transactions damn near. That's pretty spicy.

I can't wait for the day companies like VISA or Mastercard become obsolete. Please save my aunts small business from predatory transactions fees. ♥

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