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Co-founder of Ethereum, Vitalik Buterin published an article on AI governance that examines the balance between human oversight and automated decision-making. The piece reviews decentralized frameworks, distributed systems, and innovative funding mechanisms for sustainable long-term institutions in the crypto ecosystem. Buterin’s article stresses that human input is essential for steering complex AI models. The framework proposes that minimal, high-quality data from individuals can guide a system that makes thousands of decisions autonomously. It argues that human oversight is necessary to verify and adjust the outputs of automated processes. A tweet by Wu Blockchain introduces the analogy, “AI as the engine, humans as the steering wheel.” This statement encapsulates the idea that while AI delivers immense computational power, the final direction depends on human-provided data. The tweet explains that even a few hundred bits of carefully curated information can set critical objectives. This design ensures that automated systems remain aligned with human values and operational needs. The explanation reinforces that the human role is to direct and moderate the AI’s extensive decision-making process. Vitalik published an article discussing AI, arguing that AI should be guided by humans (steering wheel) as a powerful tool (engine) to ensure that technological development is in line with human values and needs and to avoid the risk of power concentration or loss of control.… The article discusses how blockchain and similar distributed systems can be used to enhance transparency. It presents a system in which no decision is ever taken centrally but in a network of connected participants. The decentralization eliminates the possibility of central bias. The system consists of individual autonomous nodes supporting a balanced decision-making system. Distributed systems support public verification and traceable execution of rules. They provide an environment where different models interact competitively without any single point of failure. The framework explains that this method is similar to established practices in the cryptocurrency world. The transparent nature of the system builds trust among participants and stakeholders. Buterin’s proposal envisions a competitive market where multiple AI agents and human-AI hybrids engage as independent solvers. This competitive environment is designed to prevent any one model from dominating the decision-making process. The system rewards participants based on the accuracy and fairness of their outputs. It creates a dynamic market in which diverse technological approaches coexist. The article explains that such a market model is better suited for long-term institutional governance. The competitive setup encourages continual improvement among various models. Human oversight remains crucial in verifying and validating the automated decisions. The design leverages market forces to balance performance and ensure that diverse perspectives are maintained. The concept of deep funding is introduced as a method to allocate credit within complex networks. The mechanism assigns numerical weights to various contributors, ensuring that each idea’s influence is measured. This system is used to track contributions, such as philosophical influences or technical innovations, across interconnected nodes. Each node represents a distinct idea that impacts the overall vision. An example in the article details how deep funding is applied to trace the ideological origins of a major cryptocurrency project. The method uses coefficients to determine how rewards are distributed. Even small contributions receive proportional credit when they affect the broader network. The approach establishes an automated and fair system to recognize contributions over time. The article also discusses the importance of privacy when incorporating human judgment into automated systems. It proposes the use of cryptographic techniques to protect sensitive data. Technologies such as multi-party computation, fully homomorphic encryption, and trusted execution environments are mentioned as effective methods. These techniques ensure that private information remains confidential while still contributing to the overall mechanism. The proposed framework limits data exposure by sharing only essential outputs. This protects internal communications and confidential inputs from external manipulation. The system maintains public transparency without sacrificing data security. The article outlines a secure environment where human oversight can safely influence AI decisions. This integration of privacy measures further solidifies the balance between openness and security in decentralized governance. Buterin’s article offers a detailed blueprint for integrating human judgment with automated decision-making. The proposals combine distributed systems, competitive market dynamics, and innovative funding mechanisms to build a resilient governance framework. The model supports long-term institutional stability by ensuring human values direct technological advancement. By leveraging a structured approach that emphasizes verification, transparency, and privacy, the framework offers a promising pathway for future crypto governance. . DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Former Binance CEO Changpeng Zhao (CZ) has criticized Safe Wallet’s post-mortem update on the Bybit hack, calling it “not that great” and raising concerns about how attackers tricked multiple signers. His comments follow an audit report stating that the breach resulted from a compromise of Safe’s infrastructure rather than the exchange’s systems. Safe’s Response Forensic investigations found that compromised Safe Wallet credentials led to the nearly $1.5 billion Bybit exploit. In a statement on X on Wednesday, the crypto wallet provider confirmed the findings, stating that the hack stemmed from a “compromised Safe Wallet developer machine.” The company highlighted that the reports did not identify vulnerabilities in its smart contracts or front-end source code. It also announced that it had fully rebuilt and reconfigured its infrastructure and changed all credentials, ensuring the attack vector was “fully eliminated.” However, CZ criticized the statement, saying: “This update from Safe is not that great. It uses vague language to brush over the issues. I have more questions than answers after reading it.” He questioned what “compromising a Safe {Wallet} developer machine” meant and how the attack happened, asking whether social engineering or a virus was involved. He also inquired how the developer machine had access to an account operated by Bybit and whether the code was deployed directly to production. Further concerns were raised about how the attackers bypassed Ledger verification, whether blind signing was involved, or if signers failed to verify properly. The Report and Updates On February 26, Bybit released a forensic audit conducted by Sygnia and Verichains about the attack. The audit revealed that Safe developer’s credentials had been compromised, giving hackers access to the wallet’s infrastructure, which led to signers being deceived into approving a malicious transaction. According to the report, the exploit was carried out using “malicious JavaScript code” that had been injected into Safe’s Amazon Web Services system two days earlier. The script activated only when transactions came from specific contract addresses, including Bybit’s multi-sig contract and another address suspected to belong to the criminal. Just two minutes after the hack, the attackers removed the malicious code from Safe’s system and disappeared. Forensic experts and the company have also confirmed that Bybit’s infrastructure was not compromised. Since the incident, Bybit has borrowed 40,000 ETH from Bitget to meet withdrawal demands, which have since been repaid. The firm has also restored its reserves through loans, asset purchases, and whale deposits, securing 446,870 ETH valued at $1.23 billion. CEO Ben Zhou confirmed that the exchange now has 100% backing for client assets. The post CZ Criticizes Safe Wallet’s Post-Mortem on Bybit Hack appeared first on CryptoPotato.

The quick laundering of over $400 million from Bybit’s hack suggests North Korea may have expanded its operations, analysts say. Over $400 million from Bybit‘s $1.46 billion incident was laundered in just days, with analysts at blockchain forensic firm TRM Labs now raising serious concerns that North Korea may have expanded its laundering operations. In a Feb. 27 blog post, the analysts pointed out that Bybit’s attackers moved nearly half a billion in less than a week, using intermediary wallets, crypto swaps, decentralized exchanges, and cross-chain bridges to hide the trail. “This rapid laundering suggests that North Korea has either expanded its money laundering infrastructure or that underground financial networks, particularly in China, have enhanced their capacity to absorb and process illicit funds.” TRM Labs You might also like: ‘Blind signing is an issue, but not the prime suspect’ expert says on Bybit $1.4b saga The analysts note that North Korean hackers typically use crypto mixers to hide stolen funds before cashing out. But the scale of the Bybit incident has forced them to adopt new methods. Instead of mixers, they are now using multiple wallets and decentralized platforms to obscure the money trail. Initially, some stolen Ethereum was sent through BNB Chain and Solana. Now, most of it has been sent to the Bitcoin network. Despite the quick laundering, much of the Bitcoin remains untouched, suggesting the attackers are preparing for large-scale liquidation through OTC networks, the analysts suggest. Bybit lost $1.46 billion in a multi-stage attack, which security experts link to Safe Wallet. The attackers reportedly compromised a Safe{Wallet} developer’s device, tricking Bybit’s Safe wallet owner into signing a malicious transaction. Read more: Crypto mixers were allegedly used to launder funds stolen from Bybit and Infini. Will pro-Bitcoin countries ban crypto mixers?

Nansen joins Bifrost as a strategic validator partner Multi-chain middleware platform Bifrost announced via its official Medium blog that blockchain analytics firm Nansen has joined the Bifrost Network as a strategic validator partner, contributing to the network’s security and decentralization.

Bifrost partners with Amazon Web Services to boost Web3 ecosystem development Multi-chain middleware platform Bifrost $BFC announced on Medium that it has officially joined the Amazon Web Service (AWS) Partner Network (APN). Based on this partnership, Bifrost will utilize AWS' global cloud infrastructure to offer scalable blockchain services, thereby speeding up the development of the Web3 ecosystem.