Hacker News new | past | comments | ask | show | jobs | submit login

Do the victims ever get their money back after these cryptocurrency hacks/scams? I know crypto transactions are irreversible by nature, but do the coins ever get seized by law enforcement and returned to their owner? If not, that seems like a major problem. (I know they got around the DAO hack, but that's a unique case.)



No, one thing that has been a partial remedy is that the token sale creators give the new token to the people that sent money to the wrong address anyway. It isn't really dilution to the founders so its easy to remedy.

Case in point, Enigma was trying to raise $50,000,000 which they haven't even initiated yet. This was only going to result in 50% of the tokens in the hands of the public. So buyers would have new tokens and trade that amongst themselves and other people, Enigma would have $50m a lot of that for the founders, and Enigma would also have the other Enigma tokens which would also be valued at $50m which they could use for rewards or selling into the market in the future, all depends on how the market grows.

The hackers get their $500k bug bounty and would have to have equally as bad OPSEC to get caught.

The deterrents aren't really there right now, it isn't necessarily a problem, I don't really think the state is necessary here and I wouldn't want them to use my pooled resources on this given the cost of their investigations.




Consider applying for YC's Spring batch! Applications are open till Feb 11.

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: