Vitalik Buterin Says DAO Hack ‘Fixed’, Assets Rebound

Ether (ETH) and The DAO (DAO) have rebounded after a 20% and 55% fall in value, respectively, on Friday as developers released news of the containment of the feared attack on DAO.

Also read: Vitalik Buterin: Russia’s Crypto Ban Would Stifle Blockchains

DAO Soft Fork to Save Funds

reboundDespite wild fluctuations, ETH is currently trading at around $18 per unit, representing a roughly 9% overall drop for the past 24 hours. DAO regained even more – over half of its 55% plummet to trade at around $0.15 per unit.

The market was rocked earlier today following fears that hackers were using a loophole to drain DAO of all ETH funds.

In a post released in the past hour, Vitalik Buterin released a plan of action, which will ensure no funds are ultimately stolen. Users affected by the mitigation will also be able to ultimately regain access to any compromised funds.

“The leaked ether is in a child DAO at; even if no action is taken, the attacker will not be able to withdraw any ether at least for another ~27 days (the creation window for the child DAO),” Buterin states.

This is an issue that affects

Read more ... source: TheBitcoinNews