Is it a code? We could finally rule in court on this highly controversial concept in Canada in a precedent court battle worth $ 16 million. At the heart of the case are teens accused of stealing money from the DeFi platform and refusing to return the money that Canadian police are actively pursuing.
Code is a law, and true freedom is the belief that computer code sets rules that cannot be changed and can only be obtained in a world that supersedes existing legal provisions. Those who hold this concept believe that the benefits of a decentralized system far outweigh the shortcomings, and that government involvement is an obstacle.
Dr. Craig Wright rejected this belief several times. According to the creators of Bitcoin, this concept has a fatal flaw, and those who believe it are the same people who thought that Bitcoin and blockchain offer the potential of a world without government.
In Canada, this concept has been criticized in court. It all started when the 19-year-old Andean “Andy” Mejedovich made $ 16 million by abusing the DeFi platform Indexed Finance through a flash loan. After his identity was revealed and he refused to return the stolen money, he continued the argument that “code is the law.”
Andy promises to fight to death in indexed finance and says he won’t return the money.
I’m completely unrealistic here! But to be honest, I don’t think they have it to fight until they actually die. These people … are always the safest way to be with them.
— ZetaZeroes (@ZetaZeroes) October 21, 2021
Indexed brought the matter to a court in Ontario and ordered him to appear directly at Medjedovic on December 21, last year, to respond to the allegations. According to Indexed, court hearings were related to a freeze on funds that prevented Mededovich from sending stolen digital currencies to mixers and cold wallets. The DeFi platform has ordered the court to transfer funds to a third-party custodian until the proceedings are completed.
Medjedovic did not appear in court, and now the court has issued his arrest warrant, authorities will chase DeFi hackers for the first time.
And while this is an obvious case of theft, which is generally a crime, we hold the argument that “code is the law” and believe that it is within the right of teenagers to refuse to appear in court. There is an anarchist.
What the baby boomer generation takes ?
If the market is not regulated, the code is the law
Welcome to Cryptography
There is no place for mistake
You lose snooze you lose
— AnonDeFiBaron (@AnonDeFiBaron) October 21, 2021
The founders of Indexed have also been criticized by some of the digital currency community for not supporting the “Code” argument, as proceeding with proceedings could set a precedent for future digital currency proceedings. For them, it’s more important to protect the perception that digital currencies are beyond the realm of regulation than to return the millions of dollars stolen by teenagers.
Attorney Casey Hewitt is one of them. “I fully understand them [Indexed] But it’s not great to give the government a reason to extend something like the 18 USC 1030. In the following cases, it’s important to limit fallout, as the behavior may not be so clearly wrong, “she says. Tweet..
The criticism, along with one of its founders, Dillon Kellar, came to Indexed, who, despite being a victim, must defend the behavior of his company. He told one outlet that his company didn’t want to follow the current legal route, but it was only a matter of time before another incident occurred and challenged the “code” debate.
He concluded that: “Andes will be tired, will appear in court and transfer assets to the caretaker, or will be caught by Canadian police. In any case, we all spend the day in court and he defends him. I have a chance. “
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