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Curious to hear your perspective on this thought experiment.

From TFA, the analogy seems to be a developer publishing an api key for a read/write access to a bank account (say, Plaid). If someone was to use this key to withdraw money from a checking account that has no two factor, and somehow use an atm to convert it to cash, what legal recourse would the owner of that account have?

This seems to be less about crypto going mainstream and more about security mechanisms? or am I misunderstanding the premise here?



They report the transaction as fraudulent to the bank and get their money back. It's basically automatic.


Actual bank accounts/debit withdrawals can be more difficult than say a credit card theft. But even then it's not flat out impossible to recoup




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