Non Sequor [soylentnews.org] writes:
Bloomberg [bloomberg.com] covers both the story of the Libyan Investment Authority's attempt at a putback on an investment in a derivatives contract that clearly and definitively generated a pay out of $0 for a payment of $1.2b and the story of blockchain contract company Ethereum where investors lost $60m due to a smart contract exploit that allowed a hacker to control the funds. Ethereum is generally taking the stance that anything allowed by the code embedded in its smart contracts is de facto legal by virtue of the fact that the code defines the terms of the contracts and that if they take action to seize the hacker's funds, they may in fact be sued by the hacker. At this time, they have in fact frozen the funds but are still discussing what steps to take next.
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