Where did the Hansa coins go?

Hansa's big thing was that the market had no complete control over the coins and that it would be impossible for the market to scam. so they are sitting somewhere? or at that point can they start seizing?


Comments


[6 Points] Sourcery_Market:

Here's the thing, Hansa (or LE that was controlling them) pulled a fast one and swapped their own keys (at least owning 2 of the keys, and thus controlling the transaction). The funds are not lost. LE has full control over there.

Here was the problem at hand. People did not understand the nuances of multisig. Implementation is everything. Most people didn't know how to use the Redeem Script, check the signing addresses, and thus they just "accepted" whatever Hansa's multisig address was given.

In order for multisig to maintain integrity, the buyer and vendor both need to rest assured that the buyer and vendor signing addresses are being used to compose the multisig. If you blindly accept it, anyone could give you a multisig where you or the vendor aren't actually participants. Unless you decode the redeem script yourself and validate it, you are trusting the market.


[5 Points] Immaloner:

The DNP seized those ages ago. Just use the search function. Lots of threads about it.