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
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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
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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.
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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.
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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
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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.
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Shanyé pfp
Shanyé
@shanye
I am under the impression that Bitcoin solves this
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the pfp
the
@worden
This isn't really a risk for those who have up to date systems. New ERPs (like Workday) have built in signatory policies. E.g. An employee logs in and submits the payment request, their manager needs to log in and approve it, then their VP... SVP, CFO, and then probably CEO for $25 million.
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Amanda pfp
Amanda
@amandatyler
Or perhaps a proof of personhood token of some kind! @worldcoin vibes.
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jack 🆗🆒 pfp
jack 🆗🆒
@notswizz
Hi Vitalik it’s me Jack!
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Amanda pfp
Amanda
@amandatyler
Ive worked at Google, and even at Coinbase — in order to get to a decision as big as $25M there would be at least 50 cross functional meetings, and supporting documentation to discuss the logistics and decision making process.
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Chad🎩 pfp
Chad🎩
@chad
nothing that is full-proof im sure crypto fixes this
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