In this London Blockchain Conference 2023 panel moderated by Connor Murray, industry experts discuss the process of recovering stolen digital assets, the legal aspect of the procedure, and the cost it entails.
An unidentified attacker has assumed control of the Tornado Cash DAO governance after tricking users into approving a proposal that contained malicious code.
Token recovery only freezes stolen assets on the blockchain before being removed and reissued at the tip of the chain, and no fork is necessary for this, whether it is hard or soft.
BTC Core developer Luke Dashjr reported the theft of millions of dollars of BTC from a private server he operated. On new year's eve, four transactions moved 216.9 BTC—valued at $3.6 million.
Kurt Wuckert Jr. was a recent guest on the Messy Times, recounting the Granath v. Wright trial and shedding light on the power of influence while giving a gist on the new digital asset recovery tool.
BSV Blockchain Association’s Jad Wahab and Marcin Zarakowski stressed that Bitcoin was created to operate within the law, thus the need to have a tool that will allow asset freezing if there is a valid court order.
The Bitcoin Association for BSV’s Blacklist Manager is a listening tool run by miners, enabling nodes to add digital assets identified in a court order to a freeze list.
This latest theft, resulting from deliberate manipulation of price mechanisms, again raises questions about the viability of DeFi among serious investors, and what action could be taken to recover funds.
Blacklist Manager has the potential to curb criminal activity in the digital asset space if its use is proven, says Joshua Henslee, but "crypto" anarchists will likely be on edge about this.
Stolen bitcoins have always been recoverable through a legal process, and the retrieval of such assets was only hindered by blockers who refused to enforce the rules.
The Digital Asset Recovery Toolset would mean that anybody with a court order establishing ownership of digital assets can use a designated Notary entity to translate the court order into a format that can be transmitted and interpreted by the mining network.
Today, many in the digital currency space believe asset seizure and freezing to be technically impossible, as the system is “decentralized” and it cannot be done due to being “simple math.”
