Second Assailant Drains Ethereum Funds From The DAO
It is clear a solution has to be found before the remaining DAO funds is drained as well. By the look of things, the worries for The DAO are far from over. Their Ethereum account is being drained for the second time in as many days, using the same type of exploit. Although a much smaller amount has been stolen, this time, this is a very worrying trend for what many people believed to be the future of decentralized organizations. News broke yesterday about The DAO being under attack from an exploit in their smart contract code. An assailant was able to drain over 3 million ETH from their....
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All of this comes on the heels of the self-professed white hat hackers stating how “the funds are secure”. There seems to be some confusion regarding the white hat hackers who allegedly obtained the 7 million ETC from The DAO assailant. Whereas most people were under the impression this funds would be returned to DAO token holders, the reality is very different. Several of the transactions were sent to Kraken and Poloniex addresses. There is no official statement as to why this decision was made, or what it even means. Keeping 7 million Ethereum Classic coins is not an easy task. Even if....
However, one user also pointed out how the person controlling this funds does not seem inclined to dump the currency on the market. Instead, he wants to use the funds to fund future ETC development. Although the Ethereum hard fork has taken care of the problems caused by The DAO hacker, not all of the funds has been secured just yet. As part of these withdrawals, there is also 7 million ETC stored in a Child DAO right now. If the so-called “white hat hackers’ of the DAO do not take proper action, that funds will be released to the hacker in a few hours from now. The DAO Keeps Causing....
The GlassHunt Double Spend Tool was exploited through an SQL hack. The assailant broke into the company database and seized close to US$5,000 worth of Bitcoin in the process The GlassHunt Bitcoin Double Spend Tool has been quite successful so far. Many people have tried this solution in an attempt to successfully double-spend their Bitcoins. However, the service has undergone a significant setback. An unknown hacker stole nearly US$5,000 worth of Bitcoin from active users who were waiting to double spend funds. The saying “karma is a bitch” seems to apply here. Any company successfully....
Albeit Bitcoin and Ethereum wallets have only recently started appearing on the iOS App Store; cryptocurrency users will need to be extra vigilant. A new hack allows attackers to switch legitimate applications with malicious versions. This also means we may very well see fake bitcoin and Ethereum wallet releases in the future. It has to be said, however, this attack requires the assailant to have physical access to the device in question. To a lot of people, this may apparently mitigate the attack vector, but do not be fooled into thinking the threat is over all of a sudden. The....
It goes without saying this debacle has been spurring a new debate among Ethereum enthusiasts. Many people feel the developers should send a cease and desist letter to the ETC developers for violating the Ethereum trademark. Although things have been relatively quiet around the DAO for some time now, a new development has occurred. A large amount of Ethereum Classic funds was still eligible for withdrawal by the hacker. As it turns out, the funds have been moved several hours ago. However, the ETC price across exchanges is not dipping, and the coins are not being dumped. Ever since The DAO....