this post was submitted on 16 May 2024
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Here is a more detailed explanation of the exploit.
So hardly an attack on any core system of cryptocurrencies.
So they discovered faulty code and made some money?
Can anyone explain to me how this is illegal?
The code is a contract. If someone writes bad code and loses money, then write better code - just like if someone writes a bad legal contract and loses money.
The justice system is awful.
This is like saying they discovered how to pick a lock so deserve everything in whats locked by it.
No.
It is more like finding a gold mine on public BLM land. It is over treacherous mountains only experienced climbers can access. There are no signs or doors saying it is licensed to anyone; indeed, it isn't officially registered with BLM. So the climbers go in and take as many gold nuggets as they can carry.
Unbeknownst to them, it was a mine discovered by rich and connected people who have cronies in BLM. Rangers go and arrest the climbers and say that you aren't allowed to climb, climbing is illegal, and taking gold from that mine is illegal because someone else found it and dug it, even though they didn't properly secure it nor did they put up any signs. They assumed the mountain was enough protection.
This is closer to the situation.