Vitalik Buterin on Warpcast

Vitalik Buterin pfp

Vitalik Buterin

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

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

@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

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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Nelson pfp

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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Chad🎩 pfp

nothing that is full-proof im sure crypto fixes this

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Grindr.eth🎩(formerly Http) pfp

Grindr.eth🎩(formerly Http)

Hi Vitalik! I love you btw (hope this doesn’t come off as weird) You are inspirational 🥺

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BK 🎩 pfp

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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AIAKOS pfp

Nothing humans do is safe. When artificial intelligence is developed and self-taught, there will be no gap left.

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Whitetail pfp

Strict cash control processes would usually involve the CFO. Always need have maker and checker

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Penelope 🎩 pfp

@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.

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Alex Blagirev pfp

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.

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Fitz pfp

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.

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Matt TFG pfp

People is the weakest part of the chain

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Shanyé pfp

I am under the impression that Bitcoin solves this

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Lux_V 🔵 🎩 pfp

Lux_V 🔵 🎩

Human interaction is irreplaceable. For sums of that amount, most corps require dual signatories. Trust, but verify, just like on chain.

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Calc.eth pfp

They for sure just missing standard practices, shouldnt happen ever even with AI. - Gap duration for payments from Authorisation > Approval. - Larger multi M payments need multiple higher level authorisation. - Approved addresses for payments authorised by separate parties. Trilllion other ways

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gary pfp

proof of identity

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Andrew pfp

The best solution they've come up with is a four hour long cybersecurity training course that you can skip over using a browser plugin

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airdrop pfp

Hello Vitalik, can you be my first follower, Man of Firsts 🤔⭐

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