No matter how well you design it you can't prevent government intervention at the exchanges that can cause unforeseen problems. If the bitfinex hack was the result of government regulations requiring the funds to be kept the way they were for the exchange to operator the same thing can happen to any currency stored on such an exchange for trading.
RE: Bitfinex, Blockchain Hacks, and Replay Attacks Oh My - All Things that Steem’s Technology is designed to prevent.
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Bitfinex, Blockchain Hacks, and Replay Attacks Oh My - All Things that Steem’s Technology is designed to prevent.
I did not know the governments regulated cryptos.
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The exchanges have to follow regulations to operate in various countries. In this case they had to change the method used to store coins to satisfy US regulations. They aren't regulating the crypto but how they do business.
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