The Whaleshares witness account Chronocrypto has been seized by the Bank of Neoxian.

6 days ago

Hello all, this is just a quick notice to inform everyone that I have taken possession of the Whaleshares account @chronocrypto.

This is a big deal because @chronocrypto is (or probably now was) a top 20 witness on the Whaleshares blockchain.

It was never my intention to usurp a top 20 position in this manner, so I would encourage you to unvote that account. (I run my own whaleshares witness, but that's a different story.)

Edit:
Here is the contract that was violated:

https://whaleshares.io/bank/@neoxian/the-sky-captain-bank-of-neoxian-daily-contracts-2018-11-13


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I do believe that if you post a SEIZED account that you should post the link to the contract that was violated, but that is just my IMO, and only an opinion.

Also if anyone is looking for a link to the witnesses page it is here...

https://whaleshares.io/~witnesses

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I am actually stunned that anyone would give out their private keys as collateral.

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I love it, it is the base of the loan, literally laying your keys out saying you will pay them back

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I get that, but after you pay off the loan, how do you know your keys are safe?

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You give them ownership, they change them...they give them back to you and you can change them

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The contract states that you must give @neoxian the owner key - which cannot be changed. If the owner keys were mutable, then the loaner would also not have any guarantees either. The point being, once the loan is paid, at any point in the future your private keys are out there.

I'm not saying that this is necessarily bad, only that it requires a lot of trust. I think it is a very innovative idea, regardless of the security issues.

Note: you can change your password, but not owner key as far as I am aware. Please correct me if I'm wrong!

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You can change your owner key. What i do is take the owner key, change it, give back the Active and Posting, so they can use their account, but it's owned by me. When the loan is paid off, I give them back their Owner key and they can change it and I will no longer have access.

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Are the owner's key and the password the same thing? If so, this is where the confusion is arising. If so, I think Steem/WLS should stick to one term or the other.

What is the bank of Neoxian? I see these posts from time to time but don't really get what it's about.

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I know you do your daily post but would you be willing to list all of the accounts you currently hold the keys to in a new post on your account? I think this will help the community to be better informed on who is doing what with their accounts as far as having their keys held by another.

How's banning possible if you have my private keys, can't I change it?