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20210232 No.20210232 [Reply] [Original]

>> No.20210249
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20210249

>>20210232
It won't work if it's not in the rules right?

>> No.20210256

>>20210232
The code is the law. If the code is broken, it is the code's fault, not yours.

>> No.20210260

>>20210232
Defi contracts are glorified bug bounties. Im not sure if its illegal but it sure as shit ain't immoral

>> No.20210274

>>20210249
Suppose you read the code and you find something that can make you 500k. What will I tell the government?

>>20210256
Yes that's in theory. What does the law say about this?

>> No.20210300

>>20210274
Regulation is practically nonexistent in cryptocurrency. As long as you aren't cleaning dirty money, you're good to go. There may be hackers apprehended in the past that set the precedent for indicting someone about this. But its a gray area, so I think not stepping on any toes is a good idea.

>> No.20210391

>>20210300
>I think not stepping on any toes is a good idea.
That's kind of impossible because both the users and the company will be affected

>> No.20210524

>>20210391
Yes, but one should attempt to remain anonymous after performing an exploit. Its not ransomware or malware, but exploiting a bug in a badly constructed credit card company would be illegal. Its not explicitly illegal to exploit a defi contract, but if one were indicted it could go both ways depending on how good the lawyers are. There is a precedent to find the defendant guilty, but it could be argued against. Which is why i would reccomend anyone thinking of exploiting a defi contract to stay anonymous.

>> No.20210593

>>20210232
that's a penguin

>> No.20210802

>>20210524
Problem with anonymous is finding out a way to cash out. Suppose I use a tumbler and 5 years later everyone is de-anonymized because the protocol wasn't safe. I would have to find someone who will buy my ETH/BTC using physical cash

>> No.20210837

Absolutely based penguin boomer dabbing on that thot

>> No.20210870

If you can do it, please do. It is necessary to evolve the space. These people took risks, sometimes you have to lose.

>> No.20210948

Maybe reach out to the devs after exploiting and request a 20% bug hunting fee. Lots of companies cover up bad press from hacking by saying it’s part of their big hunting program. Devs would likely jump on it to preserve the project and you can cleanly cash out without crashing the coin value too.

>> No.20211238

>>20210948
I am debating on doing that but what if they decide to sue me because what I did is against their terms and service on their shitty website? How will I legally cash in the money (that's my main concern).
And no I don't trust Monero, tumblers, etc yet....

>> No.20211708

To me it seems like if the defi protocol allows you to perform an action within an environment then the action is legitimate. I wouldn't say there are illegal and illegal actions since there is no governing body only the protocol determing whether or not an event can occur

>> No.20211832

illegal: targetting users of said defi platform and their machines, gaining access to their private keys and compromising the system via corrupt governance (key-stealing attack)

legal: performing an action allowed by the smart contract code at the time of deployment (aka an 'exploit')

>> No.20211906

>>20211238
Their terms and service on a website doesn't matter if you're just interacting with the blockchain.