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ByBit Hack was completely avoidable! This industry needs to grow up! Veritaseum’s VeADIR Platform (Video: April 2018) Server-less Architecture There is no server, it just exists as computer code. the VeADIR creates a temporary server that is distributed across multiple computers, when there is a need for it, it... creates a server, executes the programmable Smart Contracts then destroys itself. Which means in order to hack it, you need to find out where the server is, get through whatever security there is for that server cloud, then actually hack the server itself, and you have to do all that in the 4-5 seconds it is in existence. If you do succeed in doing all that which is unlikely, the only thing you could force it to do is what it was designed to do which was to buy or sell that asset. And, theoretically you’d have to pay the VERI fee to do it.show more

Riz

2,497 subscribers

10,732 views • 1 year ago •via X (Twitter)

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11 Comments

SilverSurfer1 year ago

I remember this very well as being another truly jaw dropping innovative aspect of the VeADIR. The platform was so far ahead of its time that most competitors still haven’t caught up.

Riz1 year ago

One has to wonder why the SEC forced it to be shutdown, which helps cause all this chaos in the markets.

BrNdon1 year ago

Wow, Reggie and his Veritaseum technology had this problem figured out YEARS AGO! No wonder they tried to destroy him, but he's still STANDING TALL!

Riz1 year ago

Exactly!

SecBriefs | Making Cybersecurity Simple1 year ago

🚨 CrowdStrike's software meltdown wasn't a hack, but the chaos was REAL. This incident proves the vulnerability of our digital infrastructure. Educate yourself about cybersecurity. "Cybersecurity Dictionary for Everyone" is a great start! On Amazon:

Max Sobol1 year ago

I've seen the future and @ReggieMiddleton wins

Riz1 year ago

@ReggieMiddleton In that future, we all win!

Jan1 year ago

🤯 That Reggie is a smart pickle.

Riz1 year ago

100% The man is years ahead of his time!

fortunekr [LTC🔥]1 year ago

Well, from what I've read bytebit employees were compromised by sophisticated social engineering. Plus they're forced by gov regulations to use certain protocols. Multi-sig txs were spoofed to trick authetication. This is state-actor level hacking.

Majic Eyes1 year ago

Gee, if only these people listened to Reggie they wouldn't be in this mess

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