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I have recordings proving Coinbase knew about breach months before disclosure

(jonathanclark.com)
685 points jclarkcom | 1 comments | 16 Nov 25 20:18 UTC | HN request time: 0s | source
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chaps ◴[16 Nov 25 20:59 UTC] No.45948347[source]▶
Once did some programming/networking work for a company that did the networking of a office sharing building that Coinbase was running out of. Early in my work there I noticed that the company had its admin passwords written on a whiteboard -- visible from the hallway because they had glass for walls. So I sent them an email to ask that they remove it (I billed them for it).

Their fix was to put a piece of paper over the passwords.

What a time.

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650REDHAIR ◴[16 Nov 25 21:08 UTC] No.45948413[source]▶
This doesn’t surprise me at all.

Bitcoin, and really fintech as a whole, are beyond reckless.

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KetoManx64 ◴[16 Nov 25 21:16 UTC] No.45948453[source]▶
Bitcoin is a crypto-currency/blockchain. Coinbase is a corporation that allows users to buy/trade crypto-currencies.

With Bitcoin you do not get government bailouts like what happened with the beyond reckless banks in 2008.

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arcanemachiner ◴[16 Nov 25 21:50 UTC] No.45948733[source]▶
> With Bitcoin you do not get government bailouts like what happened during the beyond reckless banks in 2008

It is not beyond imagination that the most popular Bitcoin blockchain (and thus, the label of being the "real" Bitcoin) could change at some point in the future.

"Bitcoin" is not immune from the implications of political fuckery.

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adastra22 ◴[16 Nov 25 21:52 UTC] No.45948755[source]▶
By what mechanism? The whole point of bitcoin is that you can’t force a consensus change. This is enforced by the algorithm and the laws of thermodynamics.
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1. SpicyLemonZest ◴[17 Nov 25 18:18 UTC] No.45956278[source]▶
What you can do, and what has been done in the past, is get a critical mass of large cryptocurrency actors to agree that a protocol change should be applied and that the results of that protocol change are called "Bitcoin". As the Bitcoin Cash folks quickly realized, it's not tenable to try and maintain a disagreement with Coinbase and large miners about about what the Bitcoin protocol is; if you don't want to accept the upgrade, your only practical option is to make a fork and call it something else.