A bug in the DAO’s smart contracts
was exploited early this morning,
allowing ETH wrapped up in the DAO to be drained –
lamentable, but it’s made for some really interesting reading!
split into a “child DAO” and got about 3.6M ETH total before being stopped.
That’s about 4% of the total ETH in circulation, and leaves the DAO with 7.9M ETH.
The attack took 258 ETH per sec – 1 ETH is worth about $15 atm, after a 25% drop in value today.
The balance will be frozen for 27 days due to, I think, the DAO’s rules.
Er, and also because many (all?) of the exchanges paused their trading for a bit
according to these logs.