An essay by a member of our company regarding the incident where a developer from the Infini team embezzled $50 million:
- For someone who is at their wits' end, while such actions are undesirable, they cannot be deemed shameful. The motivation behind such actions is understandable, but rather than condemning it from a moral standpoint, it is more important to deeply consider the more fundamental and serious issues:
How many people has the cryptocurrency space harmed? How many people have lost everything and found themselves in dire straits due to exchanges? How many young individuals, who could have made a difference, have been harmed by Web3?
If this industry continues to fail to regulate harmful phenomena such as random token issuance, high-leverage contract trading, and PVP, then tragedies similar to that of the Infini engineer will inevitably occur again.
- As a platform or institution that often manages tens of millions of dollars, should there not be a more trustless, serious, and reliable way to be responsible for users' valuable assets? In what form should the trustless and decentralized principles advocated by the blockchain world be realized? How can an institution or company that prioritizes customer interests avoid the possibility of single points of failure in its workflow? If we can only place our hopes on the integrity of the platform operators or their internal members, then is the so-called Trustless ultimately just empty talk?
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