In second largest DeFi hack, Blockchain Bridge loses $320M Ether
I wish I remember where I saw this but someone described crypto like this: imagine you&#x27;re a smart person who is super knowledgeable about something like software engineering, distributed systems and consensus. That&#x27;s great. But then you make the mistake of thinking because you&#x27;re really smart and good at this thing you must be smart about something completely different, like oh I don&#x27;t know the financial system. That&#x27;s crypto.<p>Basically, we&#x27;re going to go through a process where a ton of people realize that things like reversible transactions in the traditional financial system are a feature not a bug. Thing like KYC&#x2F;AML are a feature not a bug. The idea that crypto is extragovernmental is a myth. And things like smart contracts and NFTs only really work when they&#x27;re completely self-contained on the blockchain. Like, I can create an NFT for a song but that doesn&#x27;t mean I have the legal right to sell that (there&#x27;s lots of scams like this). Even if I do, you still need traditional systems to enforce such rights anyway.