White Hat Hacker saves $10 million ETH from vanishing in unknown wallets

White Hat Hacker saves $10 million ETH from vanishing in unknown wallets

By PVMihalache | Mind Puzzle | 11 Oct 2020


The Ethereum Dark Wood is still hard for me to understand. How is possible for smart contract to become available for anyone to grab, just like a stick from a wood, is hard to process. 

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This guy, called SAMCZSUN, is a block-chain researcher and white-hat hacker, basically an crypto super-hero. While patrolling the crypto-world, just like any other super-hero, he found 25,000 Ethereum which they were vulnerable. He saved $10 million from the ETH smart contract, as they were open for the taking. The smart contract contained a “burn” function. that made it easy for users to mint tokens with zero value and swap them for Ethereum. This process could have been repeated until all $10 million worth of Ethereum would have been stolen.

SAMCZUN organised a team of experts and miners and took the funds out of danger. They had the chance to take advantage of the flaw and get rich but they worked for the greater good and withdrew the Ethereum from the Dark Forest and the multitude of bad guys, hackers and bots that are there, scanning for errors

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The team approached a mining company which help them avoid any hijacking and placed the assets in a block. This took few hours but finally the rescue was completedHackers Save $10 Million in Ethereum From Inevitable Theft The crypto-heroes returned over 25,000 Ethereum to the owners, Lien Finance and gave a bit of hope to humanity.

 

* currently testing ReadCash

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PVMihalache
PVMihalache

Self-Published Author, Football Referee, Football Coach, Early Crypto Investor, Personal Trainer, Well-Being Guru, Open-Minded, Traveller, Social Media Enthusiast, and many more...


Mind Puzzle
Mind Puzzle

Think! ... it's still free! An amalgam of cryptocurrency, science, arts, news and other manifestations of human intellectual will be published on this blog. Sometimes I will add my personal opinions or midnight revelations

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