Post
Topic
Board Altcoin Discussion
Re: Nobody's mentioned the new Ethereum hack yet?
by
Celebrity
on 22/07/2017, 03:16:55 UTC
I thought it would already have already been mentioned, my apologies if it has.

But Ethereum was hacked for over $30 million dollars! It wasn't just getting somebody's keys, it was a matter of exploiting a vulnerability in the core code. You'd think it would be a bigger news story, especially since it took white hat thieves to stop black hat thieves:

https://medium.freecodecamp.org/a-hacker-stole-31m-of-ether-how-it-happened-and-what-it-means-for-ethereum-9e5dc29e33ce

It has already been mentioned and also the White Hats didn't stop anyone. The hacker got away with $30 million. Initially he used the exploit and moved roughly 28,000 and then almost a day later he had used the exploit to move funds from the 2 other accounts. Also most of these White Hats were probably from Parity trying to limit their fuckup.

That sounds pretty bad for Ethereum. It should make any serious investor wonder what other vulnerabilities are out there that could still be exploited.

I'm not really sure whether or not it's really the problem of ethereum. The parity hack was the problem of parity's multisig codes, not directly related to ethereum blockchain. We'll see POS in ethereum soon, maybe the problems will be fixed more strongly.