Adam James · April 5, 2018 · 7:00 pm The CEO of high - profile South Korean cryptocurrency exchange Coinnest has reportedly been arrested after siphoning user funds into his own account.
For example, in June 2016, the smart contract that was used for The DAO (decentralized autonomous organization; a sort of digital venture capital fund) was exploited to allow a user to siphonfunds away from the organization.