Hacker May Have Taken $50 Million From Cybercurrency Project

  • Paper Points Up Flaws in Venture Fund Based on Virtual Money MAY 27, 2016
  • DealBook | Hacker May Have Taken $50 Million From Cybercurrency Project
  • Programmers with Slock.it wrote the code for the D.A.O. but said they had no formal continuing role with the project.
  • The D.A.O. was supposed to act like a sort of venture capital fund, investing in projects that were voted upon by people who contributed money.
  • â The D.A.O. is being attacked,â Griff Green, a community organizer with the company that wrote the projectâ s software, Slock.it , wrote on a chat channel for the project on Friday morning.

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@nathanielpopper: “That $150 million Ethereum crowdfunding project, the D.A.O.? It appears to be over after a massive hack this morn-”


The project, known as the Decentralized Autonomous Organization, sent out emergency alerts about Ether, an alternative to Bitcoin.


Hacker May Have Taken $50 Million From Cybercurrency Project