Thread by @DECA__

🧵(1 / 12) Two days ago I got scammed.

This thief is raking in victims by the minute, with no sign of slowing down.
Please retweet and warn the #NFT community.
etherscan.io/address/0xe7b8…

The silver lining is this gave me an amazing idea...

(2 / 12) I saw a Discord dm, thought it was an announcement, I was distracted, clicked mint. I know, I know, the opposite of what you're supposed to do - I feel your judgement...

(3 / 12) As I reflected on my faith in #web3, I had to consider if #crypto would truly manage to self-regulate, and that's when I had the 💡 moment. Web2 does it all the time: ask users to provide their own opinions (e.g. likes, thumbs-up, stars...).

(4 / 12) Except in #web3 it would work even better, as you can integrate economic incentives (why has no one done it yet?)...

(5 / 12) In other words, I wish @etherscan introduced a feature for users to flag a #scammer #wallet. The flagging would then have knock-on effects on other downstream wallets from the scammer.

(6 / 12) If you ask me, this would be a pretty cool idea for a new project, even independent of @etherscan. Users rewarded for correct flagging with a native token. White-hat hackers similarly rewarded for reviewing the info attached and assessing the alleged scammer wallet.

(7 / 12) A @MetaMask integration could then easily give warnings to users when signing transactions: e.g. "This wallet has been flagged as a scammer by 73 users and verified by 12 white-hat hackers".

(8 / 12) An integration with @opensea or @LooksRareNFT could limit functionality of those wallets algorithmically (no web2.5 interventions needed).

(9 / 12) But what if the #scammer sent the funds to another #wallet? Those could be marked as potentially belonging to the scammer, and then perhaps @MetaMask would require a higher number of checks in order to display the warning to users.

(10 / 12) But what if the scammer sent funds into @TornadoCash ? That would be very useful in giving a previously impossible estimate of the amount of #fraud occurring on the service. After all it only has 26k users.

(11 / 12) Even here, @MetaMask could intervent to stop transactions from flagged addresses into private protocols. In my mind this is totally in line with #bitcoin values...

(12 / 12) Our shared values: making algorithmic decisions based on the assumption that the majority of people in a sufficiently large group have good intentions.

I have faith in #web3 ♥️