The Ethereum pros were just discussing the legalities of ownership via a chain of contracts. This became the subject because figuring out spectre means we ca have secure contract. We had consensus.
And Coindesk (GDAX) , my favorite, already had a handle on matching error and what is a reasonable 'pit boss' fund for a given trade flow. It was no where near 450 million in the theft at coincheck. Nothing in the trade flow numbers justified coincheck having a company wallet with 450 million.
And the trade press watches this, the press knows the rules. The trade press found GDAX was slowly accumulating a small round off error somewhere, and called them on it.
Accumulation in a pit boss accounts in the exchange is evidence of a congestion problem building, we all knew that, the trade press and cyber patrols knew to look for it. And by implication, exchange funds are observable and must betable by the customer trading bots.
Then this fraud happens, a dirty mark. How did customers begin using a foul trading pit without the cyber patrols? These balances are always observable in the pits according to sandbox rules.
We need a professional cyber patrol for this stuff, customers will be paying digital trading insurance and the cyber patrols will tag the trading pits that have obscured the balances.
We have a name for this, coordination failure; not everyone got the consensus at the same time.
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