- 2,436,828 Ethereum has been routed to the address starting "0x304a554a310c7e546" [0]
- This is worth roughly $46,000,000.
- This has happened because there is some weakness in the Ethereum security
- The conversion between Ethereum and USD is dropping significantly, now down to 16. [1]
Due to this security threat, the developer is telling people to try to effectively DDOS the service in order to stop all transactions. Also, people are being told to split, but I can't see why.
Copy of page at 9:45: - http://puu.sh/pvOqy/929f40bddb.png
[0] https://etherchain.org/account/0x304a554a310c7e546dfe434669c...
Doubly so when the latest reviewers of this systems and custodians of the DAO include the system's creators.
When building systems that provide irreversible transaction processing, safe only under perfect use is not sufficient.
Ethereum just has to work. It doesn't have to be pretty. It doesn't have to be easy. Being pretty will help it work, but there's enough money on the table, and TheDAO demonstrates this, that it will advance on alternative institutions if it works.
TheDAO may never be 'safe' or 'perfect'. It only has to be safe right now, from the threats that real, interested parties are capable of implementing. This list of threats is quite large at 250,000,000$, and will be larger when/if TheDAO/its descendants hit 250,000,000,000$+.