Would Bybit Hack never happen if they used Shielded Zcash as their Treasury ? Is it a public address that makes this kind of hacks possible? I mean if so zcash is really the solution long term for business.
2 Likes
they signed some malicious contract, i think it would work the same, even if amount of coins is hidden.
2 Likes
not only amount but also address is hidden. Not sure if they needed to know the address to make this happen or not though.
2 Likes
well it depends.
for a normal person - unknown amount or if any in holdings is extra security.
for exchange, since they might need to show how much funds they hold for their customers, even if they used shielded wallet they would probably have to use some sort of viewing key - so the amount would be made still public by the exchange itself.
2 Likes
there are very real deep things that goes on crypto, real cartels with deep connections. wonder how to unmask these people 
1 Like
That’s exactly what just happened, what a coincidence, they don’t even make a secret of it. What a shady business. Binance is the worst enemy of crypto and the biggest friend and manipulator of bitcoin, solana, ethereum and memecoins.
Part II
This is the purest market manipulation let’s see when cz goes into jail again.
Everything is susceptible to phishing attacks. Ethereum is worse though, because it’s very difficult for users to fully understand what they’re signing (i.e. a smart contract).
If Zcash ever gets full programability, it would have the same risk.
4 Likes