
Smart Contract Wallets created in frontier are vulnerable to phishing attacks - DamienSF
https://blog.ethereum.org/2016/06/24/security-alert-smart-contract-wallets-created-in-frontier-are-vulnerable-to-phishing-attacks/
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pavel_lishin
I keep telling myself, "The next cryptocurrency that comes along, I'll take
the time to investigate it, to invest my time and effort into it, just so I
can be one of the few people to make a few million maybebucks by discovering
one of the plethora of security vulnerabilities in the design or
implementation.

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tdb7893
I like cryptocurrencies but they seem to be stolen a lot.

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mablap
In that regard, they're not at all different from the regular banking system.

edit: The Ethereum Foundation and devs have issued a new client that enables a
soft fork, effectively freezing the DAO. The only difference with the
traditional banking system here is that the decision to fork is upon the
miners, and not a single entity (central bank). The spirit is the same.

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vectorpush
A critical difference being that the traditional banking system insulates
depositors from theft whereas cyptocurrency theft leaves depositors victimized
without any legal recourse.

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mablap
Except that the Ethereum Foundation and developers have just issued a patched
client that does just that: miners can now choose to prevent the thief from
spending his/her coins. So in this sense it's really not so different.

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mmgutz
So who decides who can prevent another person from getting his/her coins? I
thought the whole purpose of cryptocurrency was to prevent that sort of thing.

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mablap
The miners have the authority. Nothing forces them to accept a transaction.

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vessenes
There is an interesting story here. More next week probably.

