Cyber privateering to secure crypto ecosystems
The guest proposed a regulated 'cyber privateering' framework to allow private US citizens and firms to actively recover stolen crypto assets.
The argument
The guest argued that state-sponsored cybercrime is too fast and well-resourced for government agencies to combat alone. By licensing private actors to 'hack back' under a regulated recovery program, the US could establish a security umbrella that attracts Web3 entrepreneurs back onshore.
The thesis, stress-tested
✓ What validates it
- ✓Introduction of recovery program or privateering language in US crypto legislation
- ✓Establishment of regulated prize courts or staking mechanisms for cyber recovery
▸ Risks discussed
- ▸Potential for legal overreach or collateral damage by private hackers
- ▸Geopolitical retaliation from targeted state-sponsored groups
Hear it yourself
"And so, we haven't seen the thing that kills me about this whole thing is that oftentimes on crypto Twitter or wherever you are, people will say, Oh, you know what? Shame on that protocol. Shame on them. It's like blaming the victim over and over again. And look, can things be done better? Absolutely. We see, and to your question, a lot of this is due not it's frankly due to social engineering. They get people to click on the wrong link. It's getting very scary with deepfakes and AI. Now, you have Mythos, like all these AI tools. And perhaps one of the reasons why people are speculating why there's so many hacks this month is because AI tools are coming online and it's making it easier to hack."