Kelly John Rose iam at kjro.se
Tue Feb 25 06:19:51 PST 2014

On Tuesday, February 25, 2014, Cathal Garvey <cathalgarvey at cathalgarvey.me>

> > The cold storage has been wiped out due to a leak in the hotwallet
> Sort of implies that "cold wallet" meant "bot-controlled wallet that
> could automatically refill 'hot-wallet'."
> In other words, a second-layer hot-wallet.
> Never assume malice for that which is equally explainable with stupidity.
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't work with systems that were tosses together
over a few weeks.

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.

Kelly John Rose
Toronto, ON
Phone: +1 647 638-4104
Twitter: @kjrose
Skype: kjrose.pr
Gtalk: iam at kjro.se
MSN: msn at kjro.se

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