Hacker drains $1.08M from Audius following passing of malicious proposal
A malicious proposal (Proposal #85) requesting the transfer of 18 million Audius’ in-house AUDIO tokens worth nearly $6 million was approved by community voting. Proposals in crypto help communities make consensus-based decisions. However, for decentralized music platform Auduis, the passing of a malicious governance proposal resulted in the transfer of tokens worth $5.9 million, with the hacker making away with $1 million. On July 24, a malicious proposal (Proposal #85) requesting the transfer of 18 million Audius’ in-house AUDIO tokens was approved by community voting. First pointed out....
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Opal team took back its resolution to rollback the blockchain after recovering 65% of the stolen coins from the hacker. On December 15th 2014, the Opal crew discovered a malicious wallet attack that ultimately cost them around 2.5 million coins . In order to reduce the impact of the hack, the team reached the Opal community with a proposal to rollback the blockchain. A majority of Opal users favored the suggestion and the team consequently made their democratic decision public. Soon after, the hacker contacted the Opal team to negotiate. He subsequently agreed to return a stash of 1.7....
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Audius, a “new kid on the blockchain”, is looking to shape an entirely new way of music distribution between artist and fans. AudioCoin breaks down the barriers of traditional music financing, directly connecting artists and fans through a transparent, distributed ledger. Let’s dive in to Audius’ role in music and more on the platform’s native token. The Get Down: What This Platform & Token Is All About For those who are familiar with audio platform Soundcloud, you will understand Audius has gained similar comparisons because of its ‘artist-first’....