Unchained Bits + Bips: $285M Hack, Iran's Crypto War Machine & the Token Fundamentals Crisis
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Apr 7, 2026 Chris Perkins, founder and leader in crypto asset management and head of 250 Digital, talks institutional crypto strategies and security. He breaks down a major hack and how nation-state actors used long-term tradecraft. They debate stablecoin risk, freezing tools, liability for upgradable contracts, and Franklin Templeton’s acquisition of 250 Digital.
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Create Licensed Recovery Teams To Cut Latency
- Build a licensed, regulated recovery capability to reduce latency in asset recovery after hacks.
- Chris proposes "neo-privateers": licensed private citizens/operators who can legally recover stolen crypto quickly under policy frameworks like the Clarity Act.
Audits Alone Don't Prevent Social Engineering Hacks
- DeFi's social-engineering vulnerabilities reveal protocol audits alone are insufficient for security.
- Ram calls DeFi's condition in 2026 "an embarrassment for the industry" despite audits, highlighting immature infrastructure and misplaced VC priorities.
Decentralization Determines Legal Liability
- True decentralization changes liability: immutable, non-upgradeable systems differ legally from upgradable contracts with keys.
- Austin argues upgradable multisigs look bank-like and may attract money-transmitter or liability rules.