Hackers steal NFTs worth millions, from Apes to Art Blocks, in NFT Trader exploit
www.theblock.co
The major hack may be the worst attack to hit the NFT community in its history, with millions of dollars in potential losses.

The way I read the article, the “worth millions” is the sum of the ransom demand.

The funny part is that the exploit is in the “smart” contract, ya know the thing that the blockchain keeps secure by forbidding any updates or patches.

  • merc@sh.itjust.worksEnglish
    1·
    11 months ago

    The only way to guarantee that is to change the law that deeds of houses can only be an NFT.

    Which means that sovereign states would have to agree to no longer be the authority of who owned property, instead they’d just have to hand over all that authority to some distributed database. What’s in it for them? What’s in it for the people?

    If the authority on who owns a home is a blockchain, then what happens if someone shows up at the police station, bruised and bleeding, and claims that they were tortured until they agreed to sign over the deed to their house. In the real world, the police (or at least the courts) would have authority over that deal, and if their investigation proved that someone was in fact tortured, it would mean it’s not a legitimate sale, and the ownership reverts to the original person. But, if “blockchain”, the police and courts have no authority. What’s on the blockchain is law.

    • stoy@lemmy.zipEnglish
      1·
      11 months ago

      Well, just because a company holds the ledger of who owns what doesn’t make it impossible to police, governments order companies to do stuff all the time, that wouldn’t stop, but it would make it more difficult to police.

        • stoy@lemmy.zipEnglish
          1·
          11 months ago

          You seem to misstakenly believe that I support this, I don’t, I just argued against a dumb reason as to why it wouldn’t work.

            • stoy@lemmy.zipEnglish
              1·
              11 months ago

              I recomment that you read my earlier comment to read my argument.

              • merc@sh.itjust.worksEnglish
                1·
                11 months ago

                You claim that “governments order companies to do stuff all the time”, but how does that apply to an entry in the blockchain, which we’ve agreed is the authority on who owns property. The hint is: a company couldn’t change an entry in the blockchain, even if the government ordered them to do it.