$9 Billion Crypto Enigma Resolved?

• The DAO, a decentralized autonomous organization, was released on the blockchain of Ethereum back in 2016. 
• The DAO gathered $150 Million, but because of some loopholes in the security, hackers took advantage of the vulnerability.
• This hack was the reason for emergence of a hard fork in the blockchain of Ethereum, which eventually gave birth to a new blockchain.

The Big Hack Of The DAO

In 2016, the Ethereum blockchain saw the establishment of The DAO, a decentralized autonomous organization. These are online organizations that sell virtual tokens to its members.

The tokens provide users the ability to vote on the organization’s course. The DAO generated $150 million in ether in this fashion, however, it was compromised, and 3.6 million ether (worth over $9 billion) was plundered owing to the underpinning code’s flaws.

Following the attack, the ethereum blockchain underwent a “hard split,” which resulted in the creation of a new blockchain, effectively wiping the hack. However, not all participants of The DAO agreed with this choice. As a result, now there are two Ethereum blockchains: ethereum and ethereum classic.

Ethereum has grown to become one of the most well-known blockchains, yet the hacking event has gone unresolved for years. However, a writer said earlier this week that she had discovered the identification of The DAO attacker in anticipation for the launch of her book.

She used tracking software from Chainalysis, a blockchain tracking service, to track down the culprit, an Australian developer who had been engaged in the early crypto sector.

When the writer called the coder, he flatly refuted her assertion, saying, “The statement and conclusion are factually incorrect.” The alleged programmer stated that he would provide proof and subsequently severed all contact with Shin.

So, is the hacker’s identity still a mystery? A news agency The investigates if Chainalysis can truly track all cryptocurrency transactions.

If a writer can figure out who the DAO attacker is, she’ll have solved the cryptocurrency world’s second-largest riddle. The largest mystery, the identification of Satoshi Nakamoto, the bitcoin creator/s, has yet to be solved.

Craig Wright purported to be Nakamoto previous year, but he couldn’t establish he was the rightful owner of the vast quantity of bitcoin Nakamoto purportedly owns.

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Crypto Sector Is Still Full Of Mysteries

Apart from this big hack, which thankfully got resolved, and the mystery of Satoshi Nakamoto, crypto sector still holds puzzles that are to be resolved.

Among such cases is the mysterious block #528249. An Antminer a9 is capable to fuel about 14 terahashes every second. So, it was discovered that there is 0.4699% chances of discovering this block. Moreover, this block is alike the Bitcoin Genesis block issued by Satoshi.

Many more mysterious events are still out there waiting to be resolved, we cannot say when we’ll get the news regarding uncurtaining of such mysteries, but we are grateful for the individual who resolved the anonymity of The DAO hacker.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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