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<p>Tether and Circle only have a blacklist function. Synthetix has a “transferFrom anyone’s wallet without approval” admin backdoor.

They didn’t just freeze the 8.41M SNX—the protocolDAO forcibly pulled the tokens from the hacker’s address into their multisig.

Saying “fuck Kim Jong Un” while proving SNX holders don’t custody their tokens is peak Web3.

“Not your keys, not your crypto”—unless you hold SNX, where protocolDAO can remote-confiscate your balance anytime.

Lazarus spent $0.92 in gas to steal it; Synthetix used one multisig call to show decentralization was an illusion.

I’m confused about the real crypto ethos.</p>

Tether and Circle only have a blacklist function. Synthetix has a “transferFrom anyone’s wallet without approval” admin backdoor.
They didn’t just freeze the 8.41M SNX—the protocolDAO forcibly pulled the tokens from the hacker’s address into their multisig.
Saying “fuck Kim Jong Un” while proving SNX holders don’t custody their tokens is peak Web3.
“Not your keys, not your crypto”—unless you hold SNX, where protocolDAO can remote-confiscate your balance anytime.
Lazarus spent $0.92 in gas to ste

Tether and Circle only have a blacklist function. Synthetix has a “transferFrom anyone’s wallet without approval” admin backdoor. They didn’t just freeze the 8.41M SNX—the protocolDAO forcibly pulled the tokens from the hacker’s address into their multisig. Saying “fuck Kim Jong Un” while proving SNX holders don’t custody their tokens is peak Web3. “Not your keys, not your crypto”—unless you hold SNX, where protocolDAO can remote-confiscate your balance anytime. Lazarus spent $0.92 in gas to steal it; Synthetix used one multisig call to show decentralization was an illusion. I’m confused about the real crypto ethos.

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