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Gavin Wood on how $60M hack of DAO happened and what to do next | Dutch Blockchain Conference #dbc16

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Published on Jun 21, 2016

On June 20th Gavin Wood gave a presentation on the hack of the DAO smart contract.

In this interview afterwarts he described how the hack of the smart contract, unrelated to Ethereum, happend and what the options are of the community in the next 30 days. He starts talking about DAO at 4m.30s

Also take a look at his public presentation at http://dutchblockchainconference.com where he outlines in detail what the options are. https://www.youtube.com/watch?v=NbT-m...

Background
On June 18th an attacker began exploiting a vulnerability in the code of The DAO to siphon off invested funds using a bug that went unnoticed because smart contract coding is such a new discipline, which was even missed by a professional security audit performed prior to launch. Luckily the design of The DAO has resulted in these funds being temporarily stuck in child replicas. Nonetheless, without action the attacker will eventually secure a very large amount of ETH.

Gavin's proposal in text is here
https://docs.google.com/document/d/10...

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