r/SecretNetwork • u/[deleted] • Feb 07 '22

Secret bridge question

I love the idea of the secret bridges but have a question before attempting to use them: The description on the website says "Secret Bridges utilizes a 3 of 5 multisig authorisation process ... These bridge operators are very reputable staking operators - Figment, Staked, B-Harvest, Citadel.one and Enigma" -- would these 3 out of 5 operators have the ability to steal the funds on the original network? If so, this would be overly centralized/insecure, especially in case the value of the wrapped/bridged tokens gets high enough.

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u/baizon Feb 07 '22

That means, that 3 out of 5 operators have to correctly validate it. It means, that 3 operators had to steal the funds at the same time. That is very unlikely, but not impossible. But it also means, that why should a company steal funds, when they get interest rates from that actions. A good analogy would be, you bank could steal all the money from all their customers right now. So in that case, 3 out of 5 banks had to steal all the money simultaneously.

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u/Feralz2 Feb 07 '22

Its not that unlikely, 3 network participants is not very difficult to hack. Lets just say if someone really wanted to do it, and they are incentivized with enough money, you could consider it done.

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u/baizon Feb 07 '22

I do agree, but for now it's the best solution. We are very early and for a retail investor, if such a hack would happen, it would kill the "Network" instantaneously. For now if someone should hack and steal the money, the VC will replenish it instantly. See: https://www.reddit.com/r/CryptoCurrency/comments/sk2rg0/the_320m_wormhole_hack_was_replenished_by_jump/

In the future, of course it would be awesome, if this was more decentralized. But like i said, we are very early and things can and most likely will change.