NEW: Backpack 🎒 CEO Armani Ferrante SAYS EVERY EXCHANGE AND PROTOCOL SHOULD ADD MANDATORY WITHDRAWAL DELAYS TO DETER HACKERS "KILL INSTANT SETTLEMENT" "YOU GIVE ME ANY CUSTODY SYSTEM AND IT IS IMMEDIATELY MORE SECURE WITH A WITHDRAWAL DELAY THAN WITHOUT IT "THERE ARE NO EXCEPTIONS" Earlier today Ostium was... exploited for over $18M.show more

@Backpack @armaniferrante That would be a hindrance to the users, that’s on the protocol for sucking ass. Pay that shit up & fix your shitty protocols

@Backpack @armaniferrante Yeah, nothing says trustlessness and transparency like telling users they can’t withdraw lol

@Backpack @armaniferrante It's just business

@Backpack @armaniferrante so called Backpack “DEX” you dont delay hackers by delaying withdrawals, your security protocol sucks and is leaking data therefore its no surprise getting hacked

@Backpack @armaniferrante Instant is great until nobody has time to stop it.

@Backpack @armaniferrante How about it is a feature that you turn on and with a 2factor and we are in much better shape

@Backpack @armaniferrante Fuck that clown

@Backpack @armaniferrante Dumb takes you only see in crypto. 2026 and we prefer going backwards cause "wE cAn't sEcuRe oUr pRotOcoL"

@Backpack @armaniferrante Not a bad idea at all specially for large transfer. Even something like a hold the fund trigger when some large out of the ordinary is sent from a dex to CEX would be great.

@Backpack @armaniferrante No need for hackers just straight rug the whole community Details below and a story for you to tell

@Backpack @armaniferrante Makes sense with crypto hacks rising

@Backpack @armaniferrante Implementing withdrawal delays sounds like a wise move.

@Backpack @armaniferrante dumb fuck take

@Backpack @armaniferrante 👀👀👀👀 I only know one thing Gramming

@Backpack @armaniferrante Sure thing delays make hacks look extra hard

@Backpack @armaniferrante @0xSehaj i think it would be good to implement some kind of delay Could even be a delay from X amount of $ withdrawals in a certain period so that on normal days it's instant, but on busy days (which will also be days of hacks) it's not instant

@Backpack @armaniferrante Security should always come before speed because protecting user funds builds lasting trust in crypto.

@Backpack @armaniferrante

@Backpack @armaniferrante Security and convenience have always been a trade-off.

@Backpack @armaniferrante trading sped is a luxury that becomes way too expensive after a hack