Ethereum is now getting negative coverage in the mainstream media

[alyssa85]

Here is the New York Times:

http://www.nytimes.com/2016/06/18/business/dealbook/hacker-may-have-removed-more-than-50-million-from-experimental-cybercurrency-project.html?_r=0

The Wall Street Journal:

http://www.wsj.com/articles/investment-fund-based-on-digital-currency-to-wind-down-after-alleged-hack-1466175033

The register:

http://www.theregister.co.uk/2016/06/17/digital_currency_ethereum/

Digital currency Ethereum may have less than a month to live.

...The conflict threatens to bring down the credibility of the entire currency. Not only was it possible to hack the system and move millions of dollars worth out of one of the currency's main backers – raising questions of its technical competence – but the developers have proposed intervening potentially for their own financial gain in the inner workings of the entire system – raising political questions over how it is run.

The uncertainty is keenly reflected in the currency's price – it has dropped more than 30 per cent since the news broke and continues to drop as the community debates what to do.

With just 27 days to go before the proposed solution becomes ineffective, the digi-currency sits at an extraordinary crossroads: intervene and risk undermining the entire currency, or let the theft pass and risk undermining the entire currency

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[iamnotback]

With just 27 days to go before the proposed solution becomes ineffective, the digi-currency sits at an extraordinary crossroads: intervene and risk undermining the entire currency, or let the theft pass and risk undermining the entire currency

Checkmate.

[aidia]

With just 27 days to go before the proposed solution becomes ineffective, the digi-currency sits at an extraordinary crossroads: intervene and risk undermining the entire currency, or let the theft pass and risk undermining the entire currency

Checkmate.

^This

At this point I'd like to thank you for pointing out the flaws in DAO before the shit truly hit the fan, did not put a dime in because of this. *thumbs up*

[whap]

At this point I'd like to thank you for pointing out the flaws in DAO before the shit truly hit the fan, did not put a dime in because of this. *thumbs up*

Well, it hit the fan outright hard already...

[ATA Group]

Dat Ni**ha deed brah

[Spoetnik]

AHHAHA I love it !

I want to give the hacker a big Hug + Reach around and maybe a Cleveland Steamer !

Hacker they should give you your coins you got them fairly.
..congrats on the fine job by the way

And no i am not brown nosing to warm up to the newly rich millionaire now LOL
I don't want anything from you guy..

[alyssa85]

The hacker has posted a signed message:

http://pastebin.com/CcGUBgDG

To the DAO and the Ethereum community,
 
I have carefully examined the code of The DAO and decided to participate after finding the feature where splitting is rewarded with additional ether. I have made use of this feature and have rightfully claimed 3,641,694 ether, and would like to thank the DAO for this reward. It is my understanding that the DAO code contains this feature to promote decentralization and encourage the creation of "child DAOs".
 
I am disappointed by those who are characterizing the use of this intentional feature as "theft". I am making use of this explicitly coded feature as per the smart contract terms and my law firm has advised me that my action is fully compliant with United States criminal and tort law. For reference please review the terms of the DAO:

It's top quality trolling, that's for sure. He's enjoying this.

[Spoetnik]

And so he should !

Peww peew peeeeeew !!!

[mining1]

@alyssa85 You are probably Smart enought to realise its most likely a fud message for obvs reasons

[iamnotback]

@alyssa85 You are probably Smart enought to realise its most likely a fud message for obvs reasons

Those 2000 BTC worth that was reportedly short ETH just before the attack.

Now he gets the capitulation to $7 or $1, so he can cash out BTC.

And assuming he was highly leveraged on the shorts, when he covers that will probably be the bottom. He might even go long ETH if it overshoots to the bottom side and he wants to profit off any bounce.

Also others who probably went short on the initial deadcat bounce after the flash crash to $13.

But remember don't buy until there is blood in the streets. It must get very bloody and many must panic before it is a nobrainer buy. And don't catch a falling  knife.

[GreenBits]

@alyssa85 You are probably Smart enought to realise its most likely a fud message for obvs reasons

Those 2000 BTC worth that was reportedly short ETH just before the attack.

Now he gets the capitulation to $7 or $1, so he can cash out BTC.

And assuming he was highly leveraged on the shorts, when he covers that will probably be the bottom. He might even go long ETH if it overshoots to the bottom side and he wants to profit off any bounce.

Also others who probably went short on the initial deadcat bounce after the flash crash to $13.

But remember don't buy until there is blood in the streets. It must get very bloody and many must panic before it is a nobrainer buy.

I didn't know about this short business, now this is starting to feel like an inside job. Surely the SEC/FBI will investigate the person(s) responsible for placing the order, if this were an SEC regulated asset that would be a no brainier.

[pbleak]

@alyssa85 You are probably Smart enought to realise its most likely a fud message for obvs reasons

Those 2000 BTC worth that was reportedly short ETH just before the attack.

Now he gets the capitulation to $7 or $1, so he can cash out BTC.

And assuming he was highly leveraged on the shorts, when he covers that will probably be the bottom. He might even go long ETH if it overshoots to the bottom side and he wants to profit off any bounce.

Also others who probably went short on the initial deadcat bounce after the flash crash to $13.

But remember don't buy until there is blood in the streets. It must get very bloody and many must panic before it is a nobrainer buy.

I didn't know about this short business, now this is starting to feel like an inside job. Surely the SEC/FBI will investigate the person(s) responsible for placing the order, if this were an SEC regulated asset that would be a no brainier.

Griff Green mentioned that there are only 500 people capable of this attack, i.e. the broad Ethereum dev community. The message also suggests someone who believed his hack was not stealing because it followed the principles of the code.

The ironic thing is the attacker could have likely keep doing small versions of this without causing the price to tanker. Makes me think it was someone who wanted to make a statement rather than a simple criminal.

[alyssa85]

Griff Green mentioned that there are only 500 people capable of this attack, i.e. the broad Ethereum dev community. The message also suggests someone who believed his hack was not stealing because it followed the principles of the code.

The ironic thing is the attacker could have likely keep doing small versions of this without causing the price to tanker. Makes me think it was someone who wanted to make a statement rather than a simple criminal.

So any idea about the identity of the hacker?

[rocketron]

I dont beleve this is a genuine message from the hacker..if it is... his identity will become known in the near future, and you can be sure..that his life will be in danger then. there are mafia and gangs and what not involved with investments in cryptos. they will not let the hacker away with it.

[alyssa85]

I recommend people having a read of the Ether subreddit:

https://www.reddit.com/r/ethereum/

Some of them are trying to track the culprit, some are arguing for a fork, others that Ether should just take the loss on the chin.

I feel really bad for them, they've all put hard cash into the thing.

[mining1]

Price atm is important for Day traders since it only causes short term panic and a drop in price. It doesnt affect the project, it ll probably help the project as a whole and after people will start realising that is not your average proj like monero, dash or other wannabe btc proj, and that devs keep delivering their promisesem price will go up rather fast

[kingorbust]

With just 27 days to go before the proposed solution becomes ineffective, the digi-currency sits at an extraordinary crossroads: intervene and risk undermining the entire currency, or let the theft pass and risk undermining the entire currency

Checkmate.

or you know, maybe they catch the guy or the guy/hacker wont sell the ETH?

[mandica]

Price atm is important for Day traders since it only causes short term panic and a drop in price. It doesnt affect the project, it ll probably help the project as a whole and after people will start realising that is not your average proj like monero, dash or other wannabe btc proj, and that devs keep delivering their promisesem price will go up rather fast

The publicity generated by this DAO crisis could be useful to the Ethereum. It might attract more capable codes to help it.

[leopard2]

Total and utter rubbish. 

ETH is safe and has not been attacked at all. A vehicle using ETH has been attacked.

Suppose a large bank gets robbed, USD are stolen. Would the mainstream media say, USD is no longer safe? Rubbish.

In fact the USD could not be arrested, while the stolen ETH can. This is positive. ETH is still safe and not reversible, but contracts are a different story.

[Suggestive Melon]

With just 27 days to go before the proposed solution becomes ineffective, the digi-currency sits at an extraordinary crossroads: intervene and risk undermining the entire currency, or let the theft pass and risk undermining the entire currency

Checkmate.

or you know, maybe they catch the guy or the guy/hacker wont sell the ETH?

catching him implies he did something illegal, and that does not appear to be the case