What is happening with all these ethereum Hack ?

[Derrick]

Another ethereum hacked ICO :

http://thehackernews.com/2017/07/ethereum-cryptocurrency-hacking.html?


http://www.newsbtc.com/2017/07/24/yet-another-ethereum-ico-gets-hacked-veritaseum-loses-us4-5m/

What is happening guys ? eth platform not secured anymore or all ico owners are scammers ?

[qiman]

I think there is a problem with the ETHEREUM PLATFORM. I do not think all the hackings are inside jobs but there is a problem with the ETHEREUM CODE that need sorting out or people will loce confidence in this platform. I am surprised people only use ETHEREUM for these ICOS and does not use NXT which has been much more successful in the sense that their wallets are much safer than ETH wallets.

[negancoin]

I'm not surprised that those ICO get hacked, Ethereum is an unsecure.

[tigerwood0432]

I think there is a problem with the ETHEREUM PLATFORM. I do not think all the hackings are inside jobs but there is a problem with the ETHEREUM CODE that need sorting out or people will loce confidence in this platform. I am surprised people only use ETHEREUM for these ICOS and does not use NXT which has been much more successful in the sense that their wallets are much safer than ETH wallets.

I agree ethereum platform have security problem , they need to fix it , otherwise it will be a MASSIVE dump this week = may be price can drop below 100$ . i'm dumping my eth coins everyday

[jzone23]

I see lots of scam on ico slack account. Slackbot always showing message regarding the ICO whitelist thingy and providing instruction where user need to log in to mew wallet. Unfoetunately MEW link provided on slackbot message is a phising site that looks exactly like original mew but url ends in dot xyz instead of dot com. I think if there are people got tricked with that and signed up ising the said link had end up with hacked accounts.

[omonuyak]

I think they system is vulnerable to hacking activities and because of this many people has lost huge amounts of their risk capital to this hackers. Ether need to reorganize there tokens activities in other to build confident in the mind of Ethereum coins and token owners and lovers.

[Pab]

Etherum is not hacked ico's are hacked but by who maybe by ico's creator,mostly some services are hacked not etherum itself

[CryptoPR]

All of the recent hacks have been due to programming errors or or bad security practices by the owners themselves, not the platform.

It is a real problem indeed but will only get solved over time as people burn their hands and better practices are acquired.

[Piston Honda]

because it's shit. 

[ghostunicorn]

I think there is a problem with the ETHEREUM PLATFORM. I do not think all the hackings are inside jobs but there is a problem with the ETHEREUM CODE that need sorting out or people will loce confidence in this platform. I am surprised people only use ETHEREUM for these ICOS and does not use NXT which has been much more successful in the sense that their wallets are much safer than ETH wallets.

Lots of people here think that ethereum has a security problem but it doesn't have a security problem with its code. The problem the owner of those projects did not take precaution needed to keep their funds in secure. These are only wallet hacks.

[rigel]

If you create a smart contract you can not further modify it, you can only create a new one.

No developer is able to create perfect code at once: discovering bugs requires time and effort. This is easier if you have a large user base but on Ethereum when you have a user base It's too late to correct any bug.
So developing a good smart contract on Ethereum is harder and more costly than another piece of code on any other platform.

ICO investors get nervous when devs don't deliver soon; this brings to a paradox: tokens with higher market cap are probably the worst ones while those with a correct development cycle lose investors day after day.

Compare the infamous DAO that had great success with Chronobank wich is going way below ICO price due to a scrupulous development.

[Seansky]

Another ethereum hacked ICO :

http://thehackernews.com/2017/07/ethereum-cryptocurrency-hacking.html?


http://www.newsbtc.com/2017/07/24/yet-another-ethereum-ico-gets-hacked-veritaseum-loses-us4-5m/

What is happening guys ? eth platform not secured anymore or all ico owners are scammers ?

I know that there's a security flaw in Ethereum chain, but the main reason why they are hacked are not because of ETH platform, but by the dev themselves. The dev team of that coin is not careful enough to secure their ico funds the safest way. Even if that is the case, I won't say that all ICO owners are scammers just because of one being hacked.

[DrkLvr_]

Ethereum is a ball of shit that gets bigger and smellier by the day. Each day Vitalik and the other scam developers add a little more shit, and stupid people continue buying it

[Za1n]

If you create a smart contract you can not further modify it, you can only create a new one.

No developer is able to create perfect code at once: discovering bugs requires time and effort. This is easier if you have a large user base but on Ethereum when you have a user base It's too late to correct any bug.
So developing a good smart contract on Ethereum is harder and more costly than another piece of code on any other platform.

ICO investors get nervous when devs don't deliver soon; this brings to a paradox: tokens with higher market cap are probably the worst ones while those with a correct development cycle lose investors day after day.

Compare the infamous DAO that had great success with Chronobank wich is going way below ICO price due to a scrupulous development.

That is supposedly one of the reasons why there is a test network. In an ideal world these projects would spend several months in a public test environment with bug bounties and peer review to help strengthen their code before actual release.

Granted, you cannot test for every possibility even with the test network, but most of these ICO contracts don't even bother to go through that stage. Right now its just a money grab to hurry up and release a production contract to get their ICO going before the money train ends.

Investors really need to stop and think. If the project you are investing in just came into existence within the last few weeks/months and has offered no code to test or review, what makes you think they are going to do anything different with their final product or service (if there is even one)?

Personally I would be wary of any project that doesn't give at least 6 months (preferably more) of lead time before launching its ICO. Along with that requirement, there also should be plenty of opportunity to test the proposed production code in the Ethereum test environment well before said release to allow for as many eyes as possible to review.

[necromastery]

Another ethereum hacked ICO :

http://thehackernews.com/2017/07/ethereum-cryptocurrency-hacking.html?


http://www.newsbtc.com/2017/07/24/yet-another-ethereum-ico-gets-hacked-veritaseum-loses-us4-5m/

What is happening guys ? eth platform not secured anymore or all ico owners are scammers ?

I know that there's a security flaw in Ethereum chain, but the main reason why they are hacked are not because of ETH platform, but by the dev themselves. The dev team of that coin is not careful enough to secure their ico funds the safest way. Even if that is the case, I won't say that all ICO owners are scammers just because of one being hacked.

It can be said that the new delevopers team is mostly weak in the field of security. This is the problem, they should still be unfit to run the project, but still impose to run it

[Ahimoth]

Another ethereum hacked ICO :

http://thehackernews.com/2017/07/ethereum-cryptocurrency-hacking.html?


http://www.newsbtc.com/2017/07/24/yet-another-ethereum-ico-gets-hacked-veritaseum-loses-us4-5m/

What is happening guys ? eth platform not secured anymore or all ico owners are scammers ?

I know that there's a security flaw in Ethereum chain, but the main reason why they are hacked are not because of ETH platform, but by the dev themselves. The dev team of that coin is not careful enough to secure their ico funds the safest way. Even if that is the case, I won't say that all ICO owners are scammers just because of one being hacked.

It can be said that the new delevopers team is mostly weak in the field of security. This is the problem, they should still be unfit to run the project, but still impose to run it

Well I think not all platforms are perfect, there are problems that needed to be resolve or needed an upgrade.
Its not the team that has a problem so better the dev of ethereum platform will soon fix this to avoid all the loses of coins.

[renes]

There is nothing to do with ethereum. It's usually related to simple hacking attacks like phishing.

[bobo012]

I think there is a problem with the ETHEREUM PLATFORM. I do not think all the hackings are inside jobs but there is a problem with the ETHEREUM CODE that need sorting out or people will loce confidence in this platform. I am surprised people only use ETHEREUM for these ICOS and does not use NXT which has been much more successful in the sense that their wallets are much safer than ETH wallets.

I agree with you. Idea was great, but execution is not soo good.
It just needs a bit more time to mature, more code review would also be good.
It's all experimental so people know that they can lose money.

[DaichiJapan]

There is nothing to do with ethereum. It's usually related to simple hacking attacks like phishing.

It was mentioned the veritaseum project that gets hacked by the way. But it's the veritaseum developer's fault and not the ethereum developer. The ethereum developer doesn't have a responsibility about the hacked case of the ico.

[KesoNie]

That is the disadvantage of the ethereum because it has a very low security and i think that they need to improve their security because it is a very big deal problem in the market because the professional hackers can make easy millions because of the vulnerabilities that they can see in ethereum.