Damus
Anita πŸ³οΈβ€πŸŒˆ · 2w
Still don't know how the @Liquid_BTC hack will end. Hope is with a fully restored network. I was asked why I used it although I knew of the federated custody risks. Here is my reasoning and why in thi...
Judge Hardcase profile picture
I agree that federated custody wasn't the cause of this issue.

However, a federated custody whose members don't individually competently scrutinize the unifying software on which they collectively operate that has been provided by a single development entity is de facto 'federated' in name only.
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Anita πŸ³οΈβ€πŸŒˆ · 2w
Yes, it's worrisome that this happened and standards need to improve.
Fiat Autopsy · 2w
Federated custody mirrors the Fed: centralized risk wrapped in distributed labels. If members don’t audit the code, they are hostages to a single point of failure, much like banks relying on opaque central bank infrastructure.