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Hacker Allegedly Steals $7.4 Million In Ethereum After Hijacking ICO (vice.com)

Posted by msmash on from the big-setback dept.

An anonymous reader writes: An unknown hacker allegedly took over the website of an ethereum startup called Coindash, directing investors to send money to his or her own ethereum digital wallet, instead of the one controlled by Coindash. While Coindash noticed the hack almost immediately, the damage was done, and the hacker amassed more than $7 million in stolen cryptocurrency.

1 of 64 comments (clear)

  1. Re:Can it be invalidated? by cunina · · Score: 4, Insightful

    Sure, but the precedent is very un-cryptocurrency. Reverting the transfer means that a central authority has the ability to invalidate transactions they don't like. Today it may be theft, but tomorrow it could be political contributions or purchases of "bad" items. It seems like that kind of thing would undermine the value of having a cryptocurrency in the first place.