Ethereum Devs Hack the Hacker, Price Skyrockets
Ethereum developers may be pulling a rabbit out of a hat as they secure more than seven million ether and suggest that “[t]here are many plans in place to attack the child daos and either block the funds or recover them.” Indications that something was under foot were given yesterday later afternoon when Alex Van de Sande, lead designer at the Ethereum Foundation, twitted that a whitehat attack on the DAO was under way. After some tense hours, Sande explained in a public post that “a group of very smart people” which, according to Stephan Tual, were composed of “members of eth foundation,....
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The cryptocurrency community has been discussing the Kucoin hack as a great number of ERC20 projects have frozen, paused, or reversed their smart contracts after the hack. Estimates say that at least $129 million ERC20 tokens affected are considered “safe” from the hacker’s clutches. Additionally, evaluations show the breach may be much larger than originally estimated, as one report says the compromise saw $280 million stolen. The Kucoin hack has been the talk of the town in crypto land these days, as the exchange was hacked on September 25, 2020. News.Bitcoin.com....
The DAO hacker has moved his stolen Ethereum from the Ethereum Classic chain, donating part of it to the Ethereum Classic developers. The move of the stolen funds from the DAO hack occurred earlier this week. As his first action with the funds the hacker sent 1,000 ETC, about $1,500, to the address associated with Ethereum Classic’s development team, leading to speculation that the initial hack might have been motivated by a desire to fork Ethereum (which ended up being a result of the hack). Ethereum’s long and complicated hacking saga. The hacker exploited a vulnerability in the DAO’s....
On Tuesday, the decentralized finance (defi) project Poly Network was hacked for over $600 million in digital assets. The attack was the largest defi hack to date eclipsing all of 2021’s defi hacks combined. The very next day, however, the hacker started to send funds back to the Poly Network team as the project’s official Twitter account says it received $4.7 million so far. **Editor’s note: As of 1:45 p.m. (EDT) the hacker has returned $260 million in tokens. White Hat Hacker Communicates With Poly Network Attacker The Poly Network hack will go down in history as one of....
In the early hours of Friday, news broke that a hacker had been able to successfully exploit the BNB Chain. However, unlike decentralized finance (DeFi) hacks that have become prominent in the crypto market, the hacker did not steal user funds. They had actually brought new BNB coins into circulation, in what would be one of the largest hacks recorded in crypto so far. Hack Puts New BNB In Circulation The hack had happened directly on the Binance bridge, where the attacker had been able to somehow convince the bridge to send them millions of new tokens. The attack happened in two waves,....
Purse.io CTO Chris Jeffery has stated Ethereum “is not learning from history” while ignoring the threats to its stability that Bitcoin solved many years ago. Learning From Bitcoin’s Mistakes. In a blog post, the developer requested Ethereum’s developers to “learn from the mistakes, just like bitcoin did.” The post was made in the wake of the DAO hack, in....