Oh, that’s right. I forgot they won’t be able to transfer funds once the keys are changed.
What happens if the account and recovery account are both in on the scam?
For instance,
- An account request a loan
- The keys are changed
- Liquid Hive is send to the account
- The account changes back their keys using the recovery account system
- They send those liquid funds to an exchange and have retaken over their original account.
They can't change back their keys as they won't be their own recovery account.. An account owned or in partnership with Hive.Loans will have recovery rights on their account.
Cool. Thanks and great idea.
No worries! Yeah it's a bit much to wrap your mind around at first.. Took many hours trying to do model the correct workflow for something like this to work.