Ethereum Classic - DAO hacker may ca$h out their ETC on 8/31/16
Ethereum Classic in my view. Just an altcoin created in protest of Ethereum’s hard fork decision to return ether back to DAO investors.
Ethereum Classic is a project to keep the original censorship-resistant, immutable, decentralized Ethereum lead by a programmer "BitPop" not agree with altering the chain for bad coding.
It doesn’t have the support of the Ethereum developers, nor of Ethereum creator Vitalik Buterin.
June 17th, 2016, an unknown person or group attacked a fund called The DAO, exploited a software vulnerability, and started draining Ether from the main address where it was stored. More than $50 million worth of ether has been drained.
Because the child DAO has the same structure, limitations, and vulnerabilities as the parent DAO. The ether in this newly created child DAO can’t be accessed for 28 days, as that is the initial funding period.
August 31st is the date! The Hacker(s) will be able to access to the ETC and sell them at will.
I thought the point of ETC was to return Ether to its original immutable code, therefore allowing the child DAO play out.
Ethereum Classic is a project to keep the original censorship-resistant, immutable, decentralized Ethereum. ETC not supposed to exist right after the hard fork.
I thought a white-hat attack had regain control from the original attacker(s)?
White hat attack was to drain the dao before hacker can that was before the hard fork. After the hard fork two chains were created ETH and ETC. If have ETH before the hard fork you will the same amount of ETC and ETH. I sold all my free ETC too early.