How Coders Hacked Back to ‘Rescue’ $208 Million in Ethereum

in ethereum •  7 years ago 

"We were in the zone. We'd done this before."

 
In case you've missed it: Last wednesday, an anonymous hacker (or hackers) stole $32 million worth of Ethereum from three multi-signature wallets due to a vulnerability in the contract for the wallet.

A white Hat Hacker Group (you know, the good ones) of volunteers took it upon themselves to "rescue" the stolen funds in 500 vulnerable wallets before the hackers could get them. They breached the wallets using the same vulnerability as the hackers and funneling the funds into the group's own account.

On Monday morning, the group was in possession of $86 million USD worth of other people's ether, and $122 million in tokens—the digital assets that are sold off in Initial Coin Offerings (ICOs), fundraising events that have raised millions in mere minutes. That's about $208 million worth of digital assets in ethereum, in total.

Read more: motherboard.vice.com

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There are good people left on this Earth :D

A little taste of their own medicine.

Powerful article. Hackers hold on

Methinks that EOS might be better than the Ethereum platform due to the fact that an EOS smart contract can be corrected if a bug is discovered...unlike Ethereum. EOS might be a game changer when it comes to smart contracts. It's too bad U.S.A. citizens are not able to acquire EOS.