7 Million ETC Locked In Child DAO Will Become Spendable Soon

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Although the Ethereum hard fork has taken care of the problems caused by The DAO hacker, not all of the funds has been secured just yet. As part of these withdrawals, there is also 7 million ETC stored in a Child DAO right now. If the so-called “white hat hackers’ of the DAO do not take proper action, that funds will be released to the hacker in a few hours from now.

The DAO Keeps Causing Problems

At current prices, selling off 7 million ETC will result in a net gain of roughly US$17m. However, there is not enough liquidity in the market to absorb this sell-off, so it’s not unlikely the assailant will have to distribute his dumps. Or, it is possible none of the funds will be sold at all, in the hopes of a future price increase across cryptocurrency exchanges.

There is a way to prevent this funds becomes available to the attacker, though. A group of white hat hackers has positioned themselves as allies of the Ethereum Ecosystem. They also worked tirelessly to prevent the attacker from withdrawing The DAO funds after the money was locked in a child DAO for 28 days.

However, the Ethereum developers took it

Read more ... source: TheBitcoinNews

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