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RE: Is This The Beginning Of A Huge Ethereum Sell-Off?
It's not Ethereum fault but a fault in some smart contract. In essence I understand functions in the code were made public (=default setting) while they should have been private (=default setting in most programming languages).
This exploit basically let anybody just go and add themselves to multi-sig wallets,after which they can sign to remove funds by calling the initialization script. Classic human coding error.
Or better said: no testing, unexpected code behaviour.
You may be right, but confidence drives the markets, not common sense. Money stolen out of wallets, only happening to Ethereum... It may be that Ethereum is fine and this doesn't matter. I just think with so many issues, some may be rethinking that whole... HODL concept. Thanks for taking the time to reply.