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The DAO is Under Attack, Ethereum Price Suffering
17 Jun2016
If you are wondering what is the reason for the sudden drop of the exchange rates of Ethereum all around, well it seems that the DAO has been attacked an somebody apparently found a way to steal a lot of ETH coins. There is still not a lot of official information regarding the issue, but until the situation is resolved and everything is clear you should be very careful trading DAO tokens and Ethereum Ether coins. It seems that the smart contracts are as smart as their authors and wherever there are a lot of money stored with automated control they always attract people willing to find a way to steal them, especially if they are not secured well enough. This could as well be the end of DAO if the situation is not taken care of good enough, but it will undoubtedly also hurt Ethereum. Hopefully things will soon clear out and we would be able to continue with the usual things like mining etc.
– For more details about the current situation and how you might be able to help…
- Publihsed in: Crypto ICOs|Crypto News
- Related tags: DAO hacked, DAO Tokens, DAO under attack, Ethereum price, Ethereum price drop, the DAO
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6 Responses to The DAO is Under Attack, Ethereum Price Suffering
admin
June 17th, 2016 at 11:59
Some more details: https://www.reddit.com/r/ethereum/comments/4oif2x/dao_attack_exchanges_please_pause_eth_and_dao/
admin
June 17th, 2016 at 12:22
The Ethereum address of the DAO hacker: 0x304a554a310c7e546dfe434669c62820b7d83490
Check it on the Etherscan block explorer: http://etherscan.io/address/0x304a554a310c7e546dfe434669c62820b7d83490
Currently the hacker’s address holds 3,544,406.916983843 Ether or about $55,824,408.94 USD equivalent
thorthehammer
June 17th, 2016 at 13:36
Yeah but it’s locked up for 27 days and will likely be rendered worthless by forks.
admin
June 17th, 2016 at 13:38
Another update here: https://www.reddit.com/r/ethereum/comments/4oiqj7/critical_update_re_dao_vulnerability/
We are looking at soft/hard fork that will resolve the issue and invalidate the transactions for the stolen coins…
ferdjones
June 18th, 2016 at 02:20
Just got an email from Hashflare.io that they are suspending mining / payouts / eth hashing sales until this is all worked out. Hope that the upcoming fork clears things up for people.
Jesus Padron D'Leon
March 2nd, 2018 at 18:59
This is why I mine Monero, I prefer to have a stable asset that grows slowly but surely.