Home Headlines Ether Price Plumets; Ethereum DAO May Be Hacked

Ether Price Plumets; Ethereum DAO May Be Hacked

Andrew Quentson
Last Updated March 4, 2021 4:49 PM
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Editor’s Note: Article updated to include social media posts covering the news story.

Ethereum took a drastic dive this morning as news came in that the DAO smart contract address  is being drained of ether in an ongoing and developing news story.

Millions of ether are moving to an unknown address with some suggesting that it may be a recursive split hack.


Griff Green, spokesman for slockit, the creators of the Dao, stated on the DAO slack channel:

“The DAO is being attacked. It has been going on for 3-4 hours, it is draining ETH at a rapid rate. This is not a drill.

You can help:

  1. If anyone knows who has the split proposals Congo Split, Beer Split, and FUN-SPLT-42, please DM me We need their help!
  2. If you want to help, you can vote yes on those aforementioned split proposals. especially people who’re tokens are blocked because they voted for Prop 43 (the music app one).
  3. We need to spam the Network so that we can mount a counter attack all the brightest minds in the Ethereum world are in on this.

please use this:

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

to spam the chain.”

Griff Green further added that his advice was as follows:

“1. If anyone knows who has the split proposals Congo Split, Beer Split and FUN-SPLT-42, please contact @griff  on The DAO’s Slack. We need their help!

2. If you have made a split proposal already and have the ability to split, please do so asap.

3. If your tokens are blocked vote yes on split proposals.

4. If your tokens are free, you have to make your best judgement call.

5. If you want to help spam the Network so Christoph Lefteris Vitalik Gustauv and all the other geniuses can mount the counter-attack…

It is not clear what exactly is going on and the above information is just coming in as the story is currently developing and may be quickly changing. As such, readers are advised to exercise caution and good judgment.

The news is making waves on Twitter, with an observer digging deeper into the plausibility of a hack.

Chart from Tradeblock.