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Hackers steal NFTs worth millions. In other news, NFTs worth millions. (www.theblock.co)

submitted 11 months ago* (last edited 11 months ago) by [email protected] to c/[email protected]

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The way I read the article, the "worth millions" is the sum of the ransom demand.

The funny part is that the exploit is in the "smart" contract, ya know the thing that the blockchain keeps secure by forbidding any updates or patches.

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[–] [email protected] 9 points 11 months ago

That isn’t required for a key. What if I want to let my family member access the house tomorrow while I’m out? Do I have to sell it to them?

The key/lock relationship is not connected to ownership. Ownership could be connected to the ability to issue new keys, but even then the ownership doesn’t need to be logged in a blockchain for that - it can simply be signed by a key held by the land registry.

If you want to make an argument for using blockchains for the land registry then… go ahead, but it’s another discussion with a whole different set of arguments.