The DAO Under Attack: $50 Million Stolen

News and Analysis

Today, the world’s first decentralized venture fund The DAO has been attacked. Unknown hackers keep on withdrawing ETH tokens from the fund. Overall amount of stolen assets comprises around $50 million at the time of writing.

ETH and DAO exchange rate has dropped almost immediately across all cryptocurrency exchanges. 1 ETH is worth 0.02 BTC at the time of writing.

The DAO’s official blog post reads:

“Apparently The DAO is under attack and is leaking eth in huge amounts. We will try to keep you informed, currently Griff laid out a strategy to rescue tokens.”

DAOhub’s Twitter also stated the fund was being attacked.

DAO tokens have lost 60% of their cost. Ethereum founder Vitalik Buterin wrote a post on Reddit asking cryptocurrency exchanges to halt ETH trading and withdrawal/depositing of assets.

Users of the DAO’s slack proposed to spam the network in order to slow down the withdrawal process. Those willing to join the effort are requested to use the following code in their Ethereum clients:

for (var i = 0; i < 100; i++) { eth.sendTransaction({from: eth.accounts[4], gas: 2300000, gasPrice: web3.toWei(20, ‘shannon’), data: ‘0x5b620186a05a131560135760016020526000565b600080601f600039601f565b6000f3’}) }

Ethereum’s official tweet reads:’s team also participates in solving the problem. The project created a dedicated page for updates at its official blog.

Meanwhile, Twitter user Angelo฿TC posted several addresses, which had allegedly been used to deposit the stolen tokens.

The addresses are as follows:

ForkLog continues monitoring the development of affairs.

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