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Title: Ethereum developers steal $76 million in user coins Post by: Blinken on July 19, 2017, 11:39:26 PM It amazes me that people are willing to buy into centralized systems like Ethereum, but then again Bernard Madoff had $64.8 billion in entrusted funds, too, so I guess it is no surprise.
Anyway, today core devs at the company that promotes and controls Ethereum stole $76 million in coins using a vulnerability in the protocol (https://www.reddit.com/r/ethereum/comments/6obofq/a_modified_version_of_a_common_multisig_had_a/). They claimed this was done to prevent the coins from being stolen by "bad" hackers, as opposed to themselves, the "good" hackers. They promise to "return" the coins even though they have no idea who they stole the coins from. Yeah, right. So, this is the new MO of the Ethereum company: write buggy software, then steal your customers' funds to protect them from your buggy software. Nice logic. :-\ Welcome to the Russian way of doing things where they "protect" your stuff by stealing it. Yeah, we got to take all your money to keep it safe, comrade. Title: Re: Ethereum developers steal $76 million in user coins Post by: lottery248 on July 19, 2017, 11:47:12 PM first of all, IIRC in the title is wrong in one word regarding grammar: steal, IMO should be 'stolen'.
next, IIRC that ICO site was hacked instead of the ethereum network being hacked - hackers manipulated the address which were supposed to fund the original MOs, gone to those hackers. |