Topic: I think Ethereum will be finished after this attack - page 4. (Read 15602 times)

Fhew! I looked quickly and didn't notice this post was from early June! I was like NOOO NOT AGAIN!!!  lol 

TODAY the Merkle ran with...
White Hat Hackers Caught Red-handed During Attempted ETC Sell-off

"After the funds were recovered by the white hat hackers, some transactions were sent to exchange wallets  This caused a lot of speculation among Ethereum Classic enthusiasts, as there was no official explanation for doing so. Moreover, the ETC price saw a significant decline, which seemed to indicate the funds was being sold-off by these “trustworthy” individuals."

http://themerkle.com/white-hat-hackers-caught-red-handed-during-attempted-etc-sell-off/

The plan of the white hat is to return all the DAO ETC:

After having received repeated legal threats from various individuals holding significant stakes in The DAO (still continuing), we sought legal advice to help us pursue our goal without endangering ourselves or the salvaged funds. We found support and legal advice from Bity SA, a trusted Swiss entity. It has agreed to protect, secure and later distribute the funds equitably under an independent Swiss legal structure. The number 1 goal has always been to ensure that the salvaged funds are distributed in a fair, transparent and just manner. This remains unchanged.

When the salvaged ETC were able to be recovered, signals were received from the greater community to distribute these ETC in ETH, to continue to support Ethereum projects. Also, a large portion of the community does not have the technical ability to safely work both with ETC and ETH in the same address; therefore, returning part of salvaged ETC in ETH seemed to be the safest for all the parties involved. The first actions from the Swiss structure took place Tuesday August 9th and it preferred to not announce the movement of ETC in advance to avoid speculators taking advantage of the situation. Part of these funds are still on exchanges and the rest of the funds are held in the following accounts:

ETC Multisig: 0x1ac729d2db43103faf213cb9371d6b42ea7a830f

ETH Multisig: 0xd3b0b4fc31ee1f8570c75c19caa93cc1557e538f

BTC Multisig: 3JYwxuaHGKt8rZ9NbTEcyYRXtqkfN5Lz5Y

BTC Multisig2: 3Er3uMqBruv8VnhXUjyRbp2McASUE8t9HA

It has now become clear that this approach will introduce many unnecessary complications and wouldn’t bring certainty to all DAO Token Holders that they would be treated equally and with fairness. The objective evolved from the most desirable outcome (distributing ETH and ETC) to the most efficient and comprehensible distribution solution, that all funds will be made available in ETC to the DAO Token Holders. To achieve this, all exchanges will be asked to return the funds to the Multisig wallets.

We would like to thank the community for their trust and ask for their patience as the responsibility of returning this value to the DAO Token Holders is not an easy task. We are under a lot of pressure, but throughout this process we will continue to do the best that we can to protect the interests of the DAO Token Holders.

All the legal and technical work of the community members and the companies involved, has always been on a volunteer and pro-bono basis. Following our first statement, members of the community have expressed their keenness to donate crypto assets in recognition for the efforts deployed to salvage the ETC from the attackDAOs and to distribute it back to the community. Accordingly, it will be possible to donate when retrieving the funds. We will communicate next with a detailed plan for the distribution.

we do not know the plan of his though i think that etc is still going to be better, maybe he has already dumped his coins we will never know

If you think the ETC is the real Ethereum now, you should buy some ETC and donate to the development.

the hacker might not dump his coins, we dont know anything about it to be honest, besides that only etc is the real ethereum right now

ethereum took a big hit after the DAO hack and the poorly handled situation after it by this centralized altcoin.
this is something that it can never clear from its name and will always remain with ethereum forever. and the price is surely fake because everybody was trading ETC when ETH got pumped by the whales and manipulators which was unnatural.

Why wouldn't they just move the ETC to a return contract and distribute it in the exact manner as ETH was returned (didn't read a single complaint about that method on any forum).

Having moved it to exchanges to sell seems somewhat absurd behaviour if you're planning on returning people's property. My favorite comment on the subreddit was by i3nikolai:

It seems that is no firm decision yet.

Following the events of the last 24 hours we want to keep the community updated:

After having received repeated legal threats from various individuals holding significant stakes in The DAO (still continuing), we sought legal advice to help us pursue our goal without endangering ourselves or the salvaged funds. We found support and legal advice from Bity SA, a trusted Swiss entity. It has agreed to protect, secure and later distribute the funds equitably under an independent Swiss legal structure. The number 1 goal has always been to ensure that the salvaged funds are distributed in a fair, transparent and just manner. This remains unchanged.

When the salvaged ETC were able to be recovered, signals were received from the greater community to distribute these ETC in ETH, to continue to support Ethereum projects. Also, a large portion of the community does not have the technical ability to safely work both with ETC and ETH in the same address; therefore, returning part of salvaged ETC in ETH seemed to be the safest for all the parties involved. The first actions from the Swiss structure took place Tuesday August 9th and it preferred to not announce the movement of ETC in advance to avoid speculators taking advantage of the situation. Part of these funds are still on exchanges and the rest of the funds are held in the following accounts:

ETC Multisig: 0x1ac729d2db43103faf213cb9371d6b42ea7a830f

ETH Multisig: 0xd3b0b4fc31ee1f8570c75c19caa93cc1557e538f

BTC Multisig: 3JYwxuaHGKt8rZ9NbTEcyYRXtqkfN5Lz5Y

BTC Multisig2: 3Er3uMqBruv8VnhXUjyRbp2McASUE8t9HA

It has now become clear that this approach will introduce many unnecessary complications and wouldn’t bring certainty to all DAO Token Holders that they would be treated equally and with fairness. The objective evolved from the most desirable outcome (distributing ETH and ETC) to the most efficient and comprehensible distribution solution, that all funds will be made available in ETC to the DAO Token Holders. To achieve this, all exchanges will be asked to return the funds to the Multisig wallets.

We would like to thank the community for their trust and ask for their patience as the responsibility of returning this value to the DAO Token Holders is not an easy task. We are under a lot of pressure, but throughout this process we will continue to do the best that we can to protect the interests of the DAO Token Holders.

All the legal and technical work of the community members and the companies involved, has always been on a volunteer and pro-bono basis. Following our first statement, members of the community have expressed their keenness to donate crypto assets in recognition for the efforts deployed to salvage the ETC from the attackDAOs and to distribute it back to the community. Accordingly, it will be possible to donate when retrieving the funds. We will communicate next with a detailed plan for the distribution.

Follow Up Statement on the ETC Salvaged from attackDAOs

https://www.reddit.com/r/ethereum/comments/4xasg3/follow_up_statement_on_the_etc_salvaged_from/?st=irri2xtr&sh=eda9fbff

yeah, that would be some great profit to him to be honest though we dont know what he wants to do and what not and that is a bad thing

not only him but all the ETH whales are now ETC whales too.
and also many other traders have become big whales in the last few weeks of trading ETC and accumulating it by spreading FUD like the above comments, to create panic and chaos and use the opportunity to buy cheaper coins.

Nobody? Are you sure? What about the attacker? He is an ETC whale and how do whales make money? They pump, we follow and then they dump on us. Then onward to another coin, rinse repeat.

Further developments of the ETC criminal coin? There's been no developments of the ETC criminal coin and there will be none. Remember, thieves never prosper.

Most ETC buyers or traders are just in for the short term profit. They do not believe the further development of the ETC.

Nobody dares to pump the ETC if he knows somebody will dump the coins to him at a very high price.

thats true though the  hacker is definitely not going to be dumping his money soon, i think that he will hold it for the future when a pump will happen

That's a gud plan and one that I'd support wholeheartedly.

They are weighing the options. Some people think they should sell the ETC for ETH, then donate to ETH foundation.

Do we know the plan of the white hat hacker? If they dumped the ETC at a price of $2 each, that is good money.