Sentences with phrase «loophole in a smart contract»
Someone found a coding loophole in a smart contract called The DAO, in which almost $ 250m had been invested, and began draining its funds at speed.
https://www.coindesk.com/ Not exact matches
On June 17, 2016, someone exploited a known loophole in The DAO (a vulnerability in the default smart contract code) and drained one - third of the funds held in The DAO.
Hinkes, who has litigated matters in state court regarding discovery of virtual currency assets, cautions those who may want to use smart contracts for the purposes of regulatory arbitrage or exploiting loopholes.