BitShares Forum
Main => General Discussion => Topic started by: infovortice2013 on February 15, 2015, 05:51:26 pm
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http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?_r=0
bter, gox not alone
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http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?_r=0
bter, gox not alone
That's though compromised end user computers, though, not a failure at the bank itself. This can still happen to anyone on bitshares, or any other currency.
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http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?_r=0
bter, gox not alone
That's though compromised end user computers, though, not a failure at the bank itself. This can still happen to anyone on bitshares, or any other currency.
Actually I think it was mostly by compromised bank employee computers, over which the end user has no control. BitShares users only have to protect their own computers/keys.
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It is situations like this where block chains would be very useful even as an internal data structure at banks. The fact that the bank software allows MANUAL edits of balances and apparently only "balances their accounts" once every 10 hours is very telling. The reporter probably oversimplified what the attackers actually did because what he describes is an absolute condemnation of the accounting policies at banks.
If this were on a block chain, then the hacker would have to compromise the private keys to the bank's own account in order to credit a customer account.