Vitalik Buterin pfp
Vitalik Buterin
@vitalik.eth
People who work in large corporate settings where things like this are a risk, do you have any existing rules or standardized best practices for how to minimize the risk? https://twitter.com/RichardHanania/status/1754257428198416393
46 replies
31 recasts
274 reactions
christopher pfp
christopher
@christopher
yes, it’s called approval levels. e.g. you need your manager, whom has a $500,000 approval limit, to approve anything. any more than that you need their manager to approve until you get to the board
1 reply
0 recast
3 reactions
Gilly pfp
Gilly
@gilly
@vitalik.eth - we (Coinbase) follow strict procedures. No one, not even Brian can ask for a wire payment to be made without it following a predefined process.
0 reply
0 recast
1 reaction
0x2a pfp
0x2a
@0x2a
Short answer: no However, such transfer usually would require multiple people to check and validate, multiple email confirmations, verification of bank account details, etc. Having said that, you are highlighting a legitimate threat. PGP email may help.
0 reply
0 recast
1 reaction
Nelson pfp
Nelson
@nelsonmckey
Sure. Make everybody click through a mindless training video every 90 days. I’m sure somebody is already hard at work making a new course on deepfakes.
0 reply
0 recast
0 reaction
Chad🎩 pfp
Chad🎩
@chad
nothing that is full-proof im sure crypto fixes this
0 reply
0 recast
0 reaction
stonkyleg69 pfp
stonkyleg69
@stonkyleg69
#harrypotterobamasonic10inu solves this
1 reply
2 recasts
7 reactions
BK 🎩 pfp
BK 🎩
@basedken
Segregation of duties and multiple approval levels. A transaction of this amount would go through multiple management levels within multiple departments
0 reply
0 recast
1 reaction
rigids pfp
rigids
@rigid
This is probably the first of many instances where @balajis.eth was right in calling out the need of digital proof of human/identity. Has me thinking how a mix of ENS and EAS could help solve this.
0 reply
0 recast
1 reaction
Whitetail pfp
Whitetail
@whitetail
Strict cash control processes would usually involve the CFO. Always need have maker and checker
1 reply
0 recast
1 reaction
sophisticated pfp
sophisticated
@sophisticated
GM Vitalik !
0 reply
0 recast
1 reaction
Bogdan pfp
Bogdan
@bogdangdex
ETH one love ❤️
0 reply
0 recast
0 reaction
Kaarthik pfp
Kaarthik
@kaarthik-sr
There is a real need for crypto backed proof of identity
0 reply
0 recast
0 reaction
Penelope 🎩 pfp
Penelope 🎩
@aitoolsdegen.eth
Geesh, if gonna send that much, might as well go meet them actually in person on flight and/or have someone vet them for realz. Didn't think it would have reached so quickly to this point.
0 reply
0 recast
0 reaction
Alex Blagirev pfp
Alex Blagirev
@dvorkin01
looks weird. 😏 simple treasury control procedure with multisig with CEO / CFO and Head of Legal or third party custody service should be a regular plain/vanilla risk practice. But I can offer some advisory on this for sure. paid in #eth #agix or #degens ofc.
0 reply
0 recast
0 reaction
Skino Dadik pfp
Skino Dadik
@skino
None whatsoever tho all our guys are so weird that AI just can't replicate that level of craziness
0 reply
0 recast
0 reaction
1zz0 pfp
1zz0
@1zz0
call your CFO /CEO to verify
0 reply
0 recast
0 reaction
Monkeyspeed pfp
Monkeyspeed
@theroast
My rule for minimize the risk is, just using SOP from corporate sir
0 reply
0 recast
0 reaction
Bilbie pfp
Bilbie
@bilbs
We need to increase our security
0 reply
0 recast
0 reaction
Fitz pfp
Fitz
@fits
Multiple approvers and approval thresholds per level (<50k, 250k 1m+ etc). Encoded in enterprise accounting software so enforced by software rules. This particularly scam was strange for cos the value should require multiple (at least 3 levels of approval. More potent scam is 1000’s of low value invoices submitted.
0 reply
0 recast
0 reaction