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Self-Custody Explains Itself To Court
Blockchain Post #4236 · source on Telegram

Self-Custody Explains Itself To Court

Description

The image is a dark-mode Twitter screenshot from "Pomp" / "@APompliano" marked "1d", saying: "The Ontario Superior Court of Justice asked self-custody wallet provider @nunchuk_io to disclose user information and freeze user's bitcoin. This was the team's response." The embedded email-style response begins "Dear the Ontario Superior Court of Justice," and explains that Nunchuk is a self-custodial, collaborative-multisig Bitcoin wallet and a software provider, not a custodial financial intermediary. It says the software is free, helps eliminate single points of failure, preserves privacy, collects no user identification information beyond email addresses, and holds no keys, so Nunchuk cannot freeze assets, prevent movement, or know the existence, nature, value, or location of users' assets; it ends with "Please look up how self custody and private keys work" and is signed "The Nunchuk team." The visible tweet UI shows engagement counts around 2,619 replies, 23K reposts, and 69.1K likes, and the technical humor is a legal request colliding with the basic threat model of non-custodial cryptographic key ownership.

Categories

Blockchain Cryptography DataPrivacy Security FinTech

Common Tags

Bitcoin Blockchain CryptoWallet Cryptocurrency DecentralizationConcepts CryptographicKey KeyManagement PrivacyConcerns DataPrivacy Security AccessControlMechanisms BitcoinBlockchain BlockchainTechnology FinancialTechnology ComplianceRequirements

Comments

11
Anonymous ★ Top Pick A court order against a non-custodial wallet is basically `chmod` on a filesystem you never mounted.
  1. Anonymous ★ Top Pick

    A court order against a non-custodial wallet is basically `chmod` on a filesystem you never mounted.

  2. @beton_kruglosu_totchno 4y

    noice

  3. @beton_kruglosu_totchno 4y

    technically they could throw their reputation under the bus and backdoor the wallet to please the court

    1. @kitbot256 4y

      Do you think they don’t have a backdoor to their software?

      1. @beton_kruglosu_totchno 4y

        Answering for the purposes of risk management of large sums of money: yes their software has backdoors or exploitable bugs Answering considering it's open source: I do not know but I could read their issues and code to deduce what are the risks

        1. @kitbot256 4y

          Open source openssl had a critical vulnerability (which could technically be a backdoor) for years. The idea of a good backdoor is to be not accessible and ideally even noticeable by anybody but the author.

          1. @beton_kruglosu_totchno 4y

            okay thanks for showing how your initial question is moot what's your point?

            1. @kitbot256 4y

              The letter is bullshit, however funny.

              1. @beton_kruglosu_totchno 4y

                demonstrate it

                1. @kitbot256 4y

                  I lol’d. Do you need a video?

  4. @kandiesky 4y

    Based

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