• UNDERSTANDING THE DAO ATTACK
Early on the morning of June 17th, 2016, an unknown person or group attacked a fund called The DAO, exploited a software vulnerability, and started draining Ether, a cryptocurrency, from the main address where it was stored.
The Great DAO heist: A Coordinated Scandal
• This heist was highly coordinated among individuals with great influence in the suspected scandal arena.
• This is not conclusive and only my opinion, but think about it a moment after reading the facts I’m now about to present.
June 8th 2016 was a very big day
• A few things that happened on that day to set the wheels in motion for this heist. I am in no way saying any individual is guilty, but when there is a pile of evidence all pointing to the same thing, one has to wonder.
What happened on June 8th? A few things. Strap yourself in, its about to get dirty.
• Poloniex added a whole new set of trading pairs:
Ethereum base market added with new trading pairs: ETH/DAO and ETH/LSK https://poloniex.com/exchange#eth_dao Posted by MobyDick at 2016-06-08 03:17:59 source: Poloniex.com Notices
• A few hours later the attacker(s) created what would be the initiation of the heist
Source: http://etherscan.io/address/0xb656b2a9c3b2416437a811e07466ca712f5a5b5a
• 2 former core Ethereum members join LISK
On June 8 2016, Lisk CEO Max Kordek announced the addition of Charles Hoskinson (ex-CEO of Ethereum) and Steven Nerayoff (ex-advisor for Ethereum) as Senior Advisors of Lisk, to facilitate Product Development. https://www.coingecko.com/buzz/lisk-ecosystem-and-currency
We can all agree this all happening within a few hours of each other is very coincidental….but wait….
• The VERY NEXT DAY (June 9th) The “Race-To-Empty” attack vector is publicly written about, the same vector set in motion the day before. Odd.
Source: http://vessenes.com/more-ethereum-attacks-race-to-empty-is-the-real-deal/
• June 12th the price of ETH goes from $14USD to $21USD over the next few days and peaks just before the heist happens. Hmm.
• June 17th The DAO starts getting drained. The distraction has begun.
Obviously none of this is concrete evidence that this was coordinated. But generally when you start to see weird shit happen all at the same time, then something major comes after, some questions need to be raised.
If I was €LISK and I wanted to damage my biggest competitor in my infancy… I would probably coordinate some kind of attack that will A. Destroy my competitors most valuable project, and B. Devalue my competitor and cause uncertainty while dividing the user base (divide and conquer via fork debate).
The attacker(s) KNEW they wouldn’t see a single ETH coin from the heist.
So where is the motivation… To be cool and cause Reddit to go in a uproar? Always fun, but nah. Greed is much stronger than a need for anonymous ego inflation. The real motivation is profiting off a competing technology, IMHO
How can I be so sure? I cannot. But I have studied this world enough to know when something isn’t right, and greed is one hell of a motivator throughout history. Do you really think for a second the attacker(s) thought they would get away with millions of ETH and cash them out somewhere? Not a chance, they are obviously smart enough to pull this off, then they are smart enough to know they would have never cashed out the stolen ETH.
So why do it? Simple. Watch me wave my hand while my other hand picks your pocket. You are currently in one of the biggest cryptocurrency scandals of all time.
And Now You Know The Rest Of The Story
