Earlier quoted context omitted.
This is the nuttiest thing I've ever seen.
I think that was a message from the rebel base?
"It's a trap"
Critical Update on DAO Vulnerability
21–30 of 629 posts
Re: Critical Update on DAO Vulnerability
#22Site doesn't load. Does anyone have a tl;dr for the not so informed? What's DAO? Does Etherum have a weak spot?
This is how I understand the situation: - 2,436,828 Ethereum has been routed to the address starting "0x304a554a310c7e546" [0] - This is worth roughly $46,000,000. - This has happened because there is some weakness in the Ethereum security - The conversion between Ethereum and USD is dropping significantly, now down to 16. [1] Due to this security threat, the developer is telling people to try to effectively DDOS the…
Is this a weakness on Ethereum or the DAO?
Re: Critical Update on DAO Vulnerability
#23Can someone explain what is going on here?
Re: Critical Update on DAO Vulnerability
#24This pretty directly contradicts a lot of the hype around Ethereum. Yes, bad contract code is bad, but a lot of money is about to evaporate. If it isn't easy to write secure contracts then there is a serious deployment problem.
Re: Critical Update on DAO Vulnerability
#25Site doesn't load. Does anyone have a tl;dr for the not so informed? What's DAO? Does Etherum have a weak spot?
This is how I understand the situation: - 2,436,828 Ethereum has been routed to the address starting "0x304a554a310c7e546" [0] - This is worth roughly $46,000,000. - This has happened because there is some weakness in the Ethereum security - The conversion between Ethereum and USD is dropping significantly, now down to 16. [1] Due to this security threat, the developer is telling people to try to effectively DDOS the…
0xbb9bc244d is the The DAO account.
Re: Critical Update on DAO Vulnerability
#26Just remember, when the developers inevitably appear with suggestions about how to stop the hack, roll back the blockchain, or come up with other schemes to block the hackers, they are showing everyone that all the talk of blockchains being decentralised, or being beyond the control of governments or other powers... is a complete lie.
If this hack can be stopped, then it demonstrates that the currency can be manipulated, that the decentralised system is not so fault tolerant or uncensored after all, and that people out there know this.
Re: Critical Update on DAO Vulnerability
#27Is this related to https://www.ethereum.org/ ? "Ethereum is a decentralized platform for applications that run exactly as programmed without any chance of fraud, censorship or third-party interference." Right ...
No, it isn't directly related to Ethereum(ETH). The DAO is a thing built on top of ETH that is supposed to operate like a decentralized corporation direct through direct democracy of it's constituent investors. It's website is, https://daohub.org/
Re: Critical Update on DAO Vulnerability
#28developer asks token holders to spam the network to delay the attack o.O griff [10:05 AM] @channel The DAO is being attacked. It has been going on for 3-4 hours, it is draining ETH at a rapid rate. This is not a drill. You can help: If anyone knows who has the split proposals Congo Split, Beer Split and FUN-SPLT-42, please DM me We need their help! If you want to help, you can vote yes on those aforementioned split p…
This is wild. It sounds like the plot of a really bad 90's hacker movie.
THEY'RE GOING FOR THE GARBAGE FILE!!!
Re: Critical Update on DAO Vulnerability
#29It's almost as if a cryptocurrency system used by the grey market and black market sections of the internet contained actual blackhats. What a surprise.
Much as I hate to link to reddit, for effective and biting criticism of cryptocurrencies: http://reddit.com/r/buttcoin
Re: Critical Update on DAO Vulnerability
#30The provided link is just a page showing a bunch of transactions. For someone like me, who is not so intimate with the Ethereum terminology in use (but who is still interested in the DAO, as an observer), could someone provide a layman's explanation of what's going on?
Somewhat more specifically, I'm wondering the following:
- At a high level, what does this attack actually consist of?
- How does ethereum "go missing" in a distributed blockchain, where you can see all the transaction endpoints?
- Who loses and who gains from an attack of this scale?
- How severe could this attack be - does it pose an existential threat to The DAO (or Ethereum, more broadly)?
- How is this attack being perpetrated? Has the attack vector been previously anticipated? Why is this unexpected?