Message:Ethereum users generate wallets by computing a hash of a public key derived from a random private key. A popular and highly efficient app to do this is called "Profanity."
That tool has been found to be unsafe. Tens of millions of dollars in cryptocurrency might be stolen, if not hundreds of millions. One good thing is that proofs of hacks are available on-chain forever. One bad thing is that hackers may live in countries that are corrupt and where no one faces arrest.
The French fry-themed Decentralized Autonomous Organization, a community-led entity with no central authority (read as damn dirty cyber hippies) lost half it's start-up funds, $2.3 million, due to Profanity exploit. The French Fry theme promotes itself as a decentralized social experiment where a crypto community builds and governs a fast food franchise empire via wisdom of the crowd.
Granddad here says, "You kids are truly weird."
Once upon a time high school kids would work fast food for date money. Now 2.3 million raised and lost. Something has got to give in this Age of Shoddy.
Yours,
IronRed
31-Oct-2022