Ethereum Developers Launch White Hat Counter-Attack on The DAO

Reports are emerging that members of the ethereum development community are draining customer funds from The DAO.

Jun 21, 2016 at 7:14 p.m. UTC
Updated Sep 11, 2021 at 12:20 p.m. UTC

Reports are emerging that members of the ethereum development community are moving funds from The DAO in attempt to stifle a new alleged attack.

Developer Alex Van de Sande, lead designer for the Ethereum Foundation, took to Twitter to announce the move, which came shortly after word emerged on social media that more funds were being siphoned from contracts associated with The DAO. He said that the action is a response to a new exploitation of The DAO’s smart contract code, which comes days after millions of dollars worth of ether were taken from contracts associated with project.

The address being used by Ethereum's developers can be found here, and at press time, it had amassed more than 4m ethers, worth approximately $48m.

However, funds from The DAO have also been sent to this address, though whether it is tied to the alleged attack or is involved with the ethereum developer efforts is unclear. At the time of this writing, that address had amassed more than $140k worth of ethers.

A third address has also amassed funds from The DAO, collecting roughly $820,000 at press time.

The move to drain the DAO comes amid continued debate among ethereum community members about whether to fork the network in an attempt to thwart those behind last week's attack.

Van de Sande did not immediately respond to a request for comment.

Image via Shutterstock

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