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$182M of theoretical value that is. Until the "attacker" actually trades it for real money the value of this (yet another) random currency is zero. The pricing
by boh 4y ago
$182M of theoretical value that is. Until the "attacker" actually trades it for real money the value of this (yet another) random currency is zero.
The pricing of widely known crypto is pretty dubious as it is. Pricing for off-brand cryptos is more marketing than fact.
- mcintyre1994 4y agoFrom the article: > Others were encouraged to deposit cryptocurrencies such as ether into a “silo” to build up the stablecoin’s reserves in exchange for voting rights over the operation of the organisation. I’m not sure exactly what their reserves consisted of, but it could be mostly ether and similarly liquid currencies, rather than random ones. It sounds like the thing they stole was their non-random-currencies reserves that were supposed to be able to maintain the peg.
- TrapLord_Rhodo 4y agoHe stole all the Eth backing the reserve. eth's 24 hour volume is 19.3B. They could easily trade that in a day without a major correction.
- colinmhayes 4y agoWell the problem is laundering it all. THe attacker can't just send the eth to an exchange, they need to mix it first.