I remember the feeling in my gut. It was a cold dread that started in my stomach and just wouldn’t go away. I had been working on this amazing new project, a decentralized application on the Ethereum blockchain. For me, Ethereum wasn’t just code; it was a community, a vision for a new kind of internet where we were all in control. We talked about it at meetups, debated it on forums, and built our dreams on it. It felt like this unbreakable thing. Then came the DAO. A big, decentralized investment fund built right on Ethereum. Everyone was so excited about it. I even had some money in it. It was supposed to be the ultimate test of the system: code is law, right? The rules were set, and we trusted the smart contracts to manage everything. But someone found a loophole. A massive, gaping security flaw that allowed a hacker to drain millions of dollars worth of ether from the DAO. We watched it happen in real time, powerless. It was like watching a bank robbery that you knew was happening but you couldn’t do a single thing to stop it. The very foundation of what we believed in was cracking. Suddenly, the whole “code is law” thing didn’t feel so simple. My friends and I were in a full blown debate. Some of us felt sick. How could we just let this happen? We had to do something. We had to reverse the hack, to give the money back. It felt like the morally right thing to do, even if it meant breaking the rule that “code is law.” We believed in the spirit of the community more than the rigid, unbending letter of the code. This was my team’s stance. But then there was the other side. They said no. They argued that if we rewrote history, if we undid the hack, we were violating the very principle that made blockchain special. They said if we intervened now, what would stop us from intervening again later? They were right, too. It was a tough point to argue against. My own beliefs were being challenged. It felt like a family argument where everyone has a valid point, but you know it’s going to end with people not talking to each other. The vote came, and the decision was made. The majority of the community chose to “hard fork” the network. We’d create a new blockchain, a new version of Ethereum where the hack never happened. The original, unforked chain would just continue on, with the stolen funds still on it. I had to make a choice. Would I stay with the original chain, which would become Ethereum Classic, and hold onto the “code is law” principle, or would I move to the new, corrected Ethereum? For me, it wasn’t a choice about money. It was about community and what I felt was right. I couldn’t stand by and watch a huge part of our community get wiped out by a technical glitch. I chose to move to the new chain, the new Ethereum. The old one felt like a ghost town to me after that. It was sad, but I knew I had to move forward with the community that shared my values. The split was more than just technical; it was a fundamental disagreement about what we were building and what we stood for. I’m glad I made the choice I did. I Remember the DAO Hack: What It Felt Like to Lose Faith in My Code was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this storyI remember the feeling in my gut. It was a cold dread that started in my stomach and just wouldn’t go away. I had been working on this amazing new project, a decentralized application on the Ethereum blockchain. For me, Ethereum wasn’t just code; it was a community, a vision for a new kind of internet where we were all in control. We talked about it at meetups, debated it on forums, and built our dreams on it. It felt like this unbreakable thing. Then came the DAO. A big, decentralized investment fund built right on Ethereum. Everyone was so excited about it. I even had some money in it. It was supposed to be the ultimate test of the system: code is law, right? The rules were set, and we trusted the smart contracts to manage everything. But someone found a loophole. A massive, gaping security flaw that allowed a hacker to drain millions of dollars worth of ether from the DAO. We watched it happen in real time, powerless. It was like watching a bank robbery that you knew was happening but you couldn’t do a single thing to stop it. The very foundation of what we believed in was cracking. Suddenly, the whole “code is law” thing didn’t feel so simple. My friends and I were in a full blown debate. Some of us felt sick. How could we just let this happen? We had to do something. We had to reverse the hack, to give the money back. It felt like the morally right thing to do, even if it meant breaking the rule that “code is law.” We believed in the spirit of the community more than the rigid, unbending letter of the code. This was my team’s stance. But then there was the other side. They said no. They argued that if we rewrote history, if we undid the hack, we were violating the very principle that made blockchain special. They said if we intervened now, what would stop us from intervening again later? They were right, too. It was a tough point to argue against. My own beliefs were being challenged. It felt like a family argument where everyone has a valid point, but you know it’s going to end with people not talking to each other. The vote came, and the decision was made. The majority of the community chose to “hard fork” the network. We’d create a new blockchain, a new version of Ethereum where the hack never happened. The original, unforked chain would just continue on, with the stolen funds still on it. I had to make a choice. Would I stay with the original chain, which would become Ethereum Classic, and hold onto the “code is law” principle, or would I move to the new, corrected Ethereum? For me, it wasn’t a choice about money. It was about community and what I felt was right. I couldn’t stand by and watch a huge part of our community get wiped out by a technical glitch. I chose to move to the new chain, the new Ethereum. The old one felt like a ghost town to me after that. It was sad, but I knew I had to move forward with the community that shared my values. The split was more than just technical; it was a fundamental disagreement about what we were building and what we stood for. I’m glad I made the choice I did. I Remember the DAO Hack: What It Felt Like to Lose Faith in My Code was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story

I Remember the DAO Hack: What It Felt Like to Lose Faith in My Code

2025/09/30 19:12

I remember the feeling in my gut. It was a cold dread that started in my stomach and just wouldn’t go away. I had been working on this amazing new project, a decentralized application on the Ethereum blockchain. For me, Ethereum wasn’t just code; it was a community, a vision for a new kind of internet where we were all in control. We talked about it at meetups, debated it on forums, and built our dreams on it. It felt like this unbreakable thing.

Then came the DAO. A big, decentralized investment fund built right on Ethereum. Everyone was so excited about it. I even had some money in it. It was supposed to be the ultimate test of the system: code is law, right? The rules were set, and we trusted the smart contracts to manage everything.

But someone found a loophole. A massive, gaping security flaw that allowed a hacker to drain millions of dollars worth of ether from the DAO. We watched it happen in real time, powerless. It was like watching a bank robbery that you knew was happening but you couldn’t do a single thing to stop it. The very foundation of what we believed in was cracking.

Suddenly, the whole “code is law” thing didn’t feel so simple. My friends and I were in a full blown debate. Some of us felt sick. How could we just let this happen? We had to do something. We had to reverse the hack, to give the money back. It felt like the morally right thing to do, even if it meant breaking the rule that “code is law.” We believed in the spirit of the community more than the rigid, unbending letter of the code. This was my team’s stance.

But then there was the other side. They said no. They argued that if we rewrote history, if we undid the hack, we were violating the very principle that made blockchain special. They said if we intervened now, what would stop us from intervening again later? They were right, too. It was a tough point to argue against. My own beliefs were being challenged. It felt like a family argument where everyone has a valid point, but you know it’s going to end with people not talking to each other.

The vote came, and the decision was made. The majority of the community chose to “hard fork” the network. We’d create a new blockchain, a new version of Ethereum where the hack never happened. The original, unforked chain would just continue on, with the stolen funds still on it. I had to make a choice. Would I stay with the original chain, which would become Ethereum Classic, and hold onto the “code is law” principle, or would I move to the new, corrected Ethereum?

For me, it wasn’t a choice about money. It was about community and what I felt was right. I couldn’t stand by and watch a huge part of our community get wiped out by a technical glitch. I chose to move to the new chain, the new Ethereum. The old one felt like a ghost town to me after that. It was sad, but I knew I had to move forward with the community that shared my values. The split was more than just technical; it was a fundamental disagreement about what we were building and what we stood for. I’m glad I made the choice I did.


I Remember the DAO Hack: What It Felt Like to Lose Faith in My Code was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.

Piyasa Fırsatı
DAO Maker Logosu
DAO Maker Fiyatı(DAO)
$0.05386
$0.05386$0.05386
+0.11%
USD
DAO Maker (DAO) Canlı Fiyat Grafiği
Sorumluluk Reddi: Bu sitede yeniden yayınlanan makaleler, halka açık platformlardan alınmıştır ve yalnızca bilgilendirme amaçlıdır. MEXC'nin görüşlerini yansıtmayabilir. Tüm hakları telif sahiplerine aittir. Herhangi bir içeriğin üçüncü taraf haklarını ihlal ettiğini düşünüyorsanız, kaldırılması için lütfen [email protected] ile iletişime geçin. MEXC, içeriğin doğruluğu, eksiksizliği veya güncelliği konusunda hiçbir garanti vermez ve sağlanan bilgilere dayalı olarak alınan herhangi bir eylemden sorumlu değildir. İçerik, finansal, yasal veya diğer profesyonel tavsiye niteliğinde değildir ve MEXC tarafından bir tavsiye veya onay olarak değerlendirilmemelidir.

Ayrıca Şunları da Beğenebilirsiniz

Which Altcoins Stand to Gain from the SEC’s New ETF Listing Standards?

Which Altcoins Stand to Gain from the SEC’s New ETF Listing Standards?

On Wednesday, the US SEC (Securities and Exchange Commission) took a landmark step in crypto regulation, approving generic listing standards for spot crypto ETFs (exchange-traded funds). This new framework eliminates the case-by-case 19b-4 approval process, streamlining the path for multiple digital asset ETFs to enter the market in the coming weeks. Grayscale’s Multi-Crypto Milestone Grayscale secured a first-mover advantage as its Digital Large Cap Fund (GDLC) received approval under the new listing standards. Products that will be traded under the ticker GDLC include Bitcoin, Ethereum, XRP, Solana, and Cardano. “Grayscale Digital Large Cap Fund $GDLC was just approved for trading along with the Generic Listing Standards. The Grayscale team is working expeditiously to bring the FIRST multi-crypto asset ETP to market with Bitcoin, Ethereum, XRP, Solana, and Cardano,” wrote Grayscale CEO Peter Mintzberg. The approval marks the US’s first diversified, multi-crypto ETP, signaling a shift toward broader portfolio products rather than single-asset ETFs. Bloomberg’s Eric Balchunas explained that around 12–15 cryptocurrencies now qualify for spot ETF consideration. However, this is contingent on the altcoins having established futures trading on Coinbase Derivatives for at least six months. This includes well-known altcoins like Dogecoin (DOGE), Litecoin (LTC), and Chainlink (LINK), alongside the majors already included in Grayscale’s GDLC. Altcoins in the Spotlight Amid New Era of ETF Eligibility Several assets have already met the key condition, regulated futures trading on Coinbase. For example, Solana futures launched in February 2024, making the token eligible as of August 19. “The SEC approved generic ETF listing standards. Assets with a regulated futures contract trading for 6 months qualify for a spot ETF. Solana met this criterion on Aug 19, 6 months after SOL futures launched on Coinbase Derivatives,” SolanaFloor indicated. Crypto investors and communities also identified which tokens stand to gain. Chainlink community liaison Zach Rynes highlighted that LINK could soon see its own ETF. He noted that both Bitwise and Grayscale have already filed applications. Meanwhile, the Litecoin Foundation indicated that the new standards provide the regulatory framework for LTC to be listed on US exchanges. Hedera is also in the spotlight, with digital asset investor Mark anticipating an HBAR ETF. Market observers see the decision as a potential turning point for broader adoption, bringing the much-needed clarity and accessibility for investors. At the same time, it boosts confidence in the market’s maturity. The general sentiment is that with the SEC’s approval, the next phase of crypto ETFs is no longer a question of ‘if,’ but ‘when.’ The shift to generic listing standards could expand the US-listed digital asset ETFs roster beyond Bitcoin and Ethereum. Such a move would usher in new investment vehicles covering a dozen or more altcoins. This represents the clearest path yet toward mainstream, regulated access to diversified crypto exposure. More importantly, it comes without the friction of direct custody. “We’re gonna be off to the races in a matter of weeks,” ETF analyst James Seyffart quipped.
Paylaş
Coinstats2025/09/18 12:57
Doorbraak voor altcoins: SEC keurt Grayscale’s GDLC ETF goed

Doorbraak voor altcoins: SEC keurt Grayscale’s GDLC ETF goed

Connect met Like-minded Crypto Enthusiasts! Connect op Discord! Check onze Discord   Na maanden van speculatie heeft de Amerikaanse toezichthouder eindelijk groen licht gegeven voor een nieuw crypto product dat de manier van beleggen in digitale munten fundamenteel kan veranderen. Het besluit komt op een moment dat de markt snakt naar meer institutionele producten, en beleggers reageren direct. Eerste multi-asset crypto ETF in de VS Grayscale CEO Peter Mintzberg kondigde vandaag op social media platform X aan dat zijn Digital Large-Cap Fund (GDLC) aanvraag is goedgekeurd door de Amerikaanse Securities and Exchange Commission (SEC). Het gaat om een conversie van het fonds naar een Exchange Traded Fund (ETF), waarmee GDLC dus ook op de Amerikaanse beurs verhandelbaar wordt. Grayscale Digital Large Cap Fund $GDLC was just approved for trading along with the Generic Listing Standards. The Grayscale team is working expeditiously to bring the FIRST multi #crypto asset ETP to market with Bitcoin, Ethereum, XRP, Solana, and Cardano#BTC #ETH $XRP $SOL… — Peter Mintzberg (@PeterMintzberg) September 17, 2025 Daarmee krijgen de financiële markten voor het eerst toegang tot een multi-asset crypto ETF: een beursgenoteerd fonds dat niet een munt volgt, maar meerdere tegelijk. Volgens Mintzberg gaat het product in eerste instantie bestaan uit een mix van de grootste digitale valuta’s, waaronder Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL) en Cardano (ADA). Vooralsnog is het onduidelijk wat precies de weging wordt tussen de verschillende large caps binnen de ETF. Of Grayscale over de levensduur van het fonds de weging en munt selectie kan veranderen is ook nog niet duidelijk. Nieuwe standaard voor crypto ETF’s De goedkeuring van GDLC kan een precedent scheppen. Zo kan er een multi-asset standaard ontstaan voor crypto ETF’s, wat betekent dat we in de toekomst een tal van creatieve combinaties kunnen zien op de beurs. Denk bijvoorbeeld aan ETF’s die zich puur focussen op Decentralized Finance (DeFi) leiders in de crypto markt of zelfs memecoin fondsen. Daarnaast vormt de komst van Grayscale’s fonds een belangrijk signaal richting lopende aanvragen. Waar de SEC onlangs nog een beslissing over een XRP Spot ETF uitstelde, lijkt de houding van de toezichthouder duidelijk te veranderen. ETF expert Nate Geraci benadrukt deze koerswijziging: twee jaar geleden vocht de SEC nog een harde juridische strijd met Grayscale uit over een spot Bitcoin ETF, nu wordt juist een generiek raamwerk voor crypto ETF’s omarmd. Verschillende altcoins, van XRP, ADA tot zelfs Dogecoin (DOGE), wachten op hun eerste goedkeuring. Met de introductie van dit eerste large-cap fonds lijkt bredere SEC acceptatie dan ook slechts een kwestie van tijd. Directe impact op altcoin koersen Voor institutionele partijen verlaagt het nieuwe fonds de drempel om in crypto te stappen, zonder de complexiteit van munt selectie en wallet beheer. De cryptocurrency gemeenschap hoopt dan ook dat de nieuwe ETF kan zorgen voor miljarden dollars aan kapitaalstromen richting de grote altcoins. Dat optimisme is ook terug te zien in de prijzen van veel munten. Veel large caps wisten een aardige stijging door te maken. Zo klommen SOL en ADA over de afgelopen 24 uur met respectievelijk 3,4% en 3,2% waardoor de solana koers dicht bij de grens van $245 komt. De cardano prijs heeft de significante weerstand van $0,90 doorbroken. Opvallend genoeg bleef de bitcoin koers neutraal, de ETH prijs klom minder hard dan andere altcoins met een groei van 1,1%. Best wallet - betrouwbare en anonieme wallet Best wallet - betrouwbare en anonieme wallet Meer dan 60 chains beschikbaar voor alle crypto Vroege toegang tot nieuwe projecten Hoge staking belongingen Lage transactiekosten Best wallet review Koop nu via Best Wallet Let op: cryptocurrency is een zeer volatiele en ongereguleerde investering. Doe je eigen onderzoek. Het bericht Doorbraak voor altcoins: SEC keurt Grayscale’s GDLC ETF goed is geschreven door Thomas Welsenes en verscheen als eerst op Bitcoinmagazine.nl.
Paylaş
Coinstats2025/09/18 17:32
The Shocking Zero-Tolerance Policy That’s Reshaping Crypto Security

The Shocking Zero-Tolerance Policy That’s Reshaping Crypto Security

The post The Shocking Zero-Tolerance Policy That’s Reshaping Crypto Security appeared on BitcoinEthereumNews.com. OKX Account Trading: The Shocking Zero-Tolerance
Paylaş
BitcoinEthereumNews2026/01/12 13:27