Hackers ransacked accounts belonging to the development team of an obscure blockchain earlier today,stealing $480,000 worth of an obscure token known as NULS.<\/p>\n
The NULS team confirmed the attack in a tweet posted this morning. In total, two million NULS ($480,000) were taken.<\/p>\n
Of that stash, the team reported that more than half a million tokens have beenliquidated via cryptocurrency exchanges. That amount equates to roughly $131,600.<\/p>\n
The team plans to hard fork the blockchain in an attempt to permanently freeze the remaining NULS cryptocurrency.<\/p>\n
At pixel time, the price of NULShas been pretty much unaffected by the incident, which was reportedly the fault of a security vulnerability in the 2.2 version of the software.<\/p>\n<\/p>\n
This might be due to its value already being down over 95 percent since its all-time-high even before the attack was disclosed.<\/p>\n
NULS network participants are urged to update their node software to the latest version as soon as possible.<\/p>\n
The response of the NULS team is reminiscent of how Ethereum core developers chose to handle the hacking of The DAO in 2016.<\/p>\n
The DAO was a decentralized autonomous organization powered by smart contracts that operated similarly to a venture capital fund, but investor-driven.<\/p>\n
Indeed, after hackers stole $40 million worth of Ether from The DAO, Ethereum devssplit the blockchain into two versions: one in which those affected by the hack could reclaim their funds (Ethereum), and another that continued to uphold the original version of the blockchain ledger (which became Ethereum Classic).<\/p>\n
That particular hard fork has remained controversial to this day, with critics using it as proof of the centralization of Ethereums governance.<\/p>\n
The NULS blockchain, however, is much less popular than Ethereum, so its unlikely this hard fork will causethat much of a stir.<\/p>\n
Published December 23, 2019 14:05 UTC <\/p>\n
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