On Tuesday, February 25, 2014, Cathal Garvey &lt;<a href="mailto:cathalgarvey@cathalgarvey.me">cathalgarvey@cathalgarvey.me</a>&gt; wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">
&gt; The cold storage has been wiped out due to a leak in the hotwallet<br>
<br>
Sort of implies that &quot;cold wallet&quot; meant &quot;bot-controlled wallet that<br>
could automatically refill &#39;hot-wallet&#39;.&quot;<br>
<br>
In other words, a second-layer hot-wallet.<br>
<br>
Never assume malice for that which is equally explainable with stupidity.<br>
<br><br>
</blockquote><div><br></div><div>I guess this is one painful way to learn why banks and other financial institutions have very bureaucratic but very well established techniques for handling money and don&#39;t work with systems that were tosses together over a few weeks. </div>
<div><br></div><div>Almost everything that seems to have happened is an example of either inexperience with proper bookkeeping or a complete disregard for established techniques in banking software. </div><br><br>-- <br><div dir="ltr">
Kelly John Rose<div>Toronto, ON<br>Phone: +1 647 638-4104<br>Twitter: @kjrose<br>Skype: <a href="http://kjrose.pr" target="_blank">kjrose.pr</a>
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