Digital Currency Weekly Recap 6-19-2016

digital currency

Digital Currency Weekly Recap 6-19-2016


Alleged DAO Attacker Claims Ether is Legally His

Even as the Ethereum community continues to reel in the wake of a successful attack on the DAO that drained more than $50 million in Ether from the system, a note on PasteBin saw someone claiming to be the perpetrator asserts that the transferred funds now legally belong to him. In remarks directed to “the DAO and the Ethereum community” the person claiming responsibility for the theft said the following.

I have carefully examined the code of The DAO and decided to participate after finding the feature where splitting is rewarded with additional ether. I have made use of this feature and have rightfully claimed 3,641,694 ether, and would like to thank the DAO for this reward. It is my understanding that the DAO code contains this feature to promote decentralization and encourage the creation of "child DAOs".

The writer then went on to assert that any forking action designed to recover the funds would “amount to seizure of my legitimate and rightful ether, claimed legally through the terms of a smart contract” while noting that he reserved the right to “take any and all legal action against any accomplices of illegitimate theft, freezing, or seizure of my legitimate ether, and am actively working with my law firm.”

True or not, the message is certainly a clear example of how adept some people can be at adding insult to injury.

Canadian Central Bank Not Launching Digital Currency in Near Future

Despite rumors that the Bank of Canada was seriously exploring the creation of its own digital currency, senior deputy governor Carolyn Wilkins tried to damp down speculation in remarks she offered in a speech delivered on Friday. In that speech, Wilkins stressed that the CAD Coin the bank is currently exploring is merely being used to study future options for large bank transactions. She also suggested that the bank’s primary interest at this point is in ensuring that core payment systems receive the upgrade they need. When it comes to launching its own cryptocurrency, however, Wilkins said “I think we’re very off.”

Masters: Digital Currency Principled Response to Financial Crisis

In a recent conversation with the Wall Street Journal’s editor of CFO Journal, Kimberly Johnson, Digital Assets CEO Blythe Masters called the rise of digital currencies like Bitcoin a “principled” vision born out of the aftermath of the 2008 financial crisis and a desire to empower individuals to exchange value without the need for centralized entities like banks. She then noted that the transfer of actual instruments of value must still rely on “centralized institutions” if we want to avoid negative consequences like terror financing and money laundering.

MGT Capital Taps Voorhees for Crypto Advisory Board

MGT Capital Investments recently announced the appointment of CEO Erik Voorhees to its Cryptocurrency Advisory Board. The Board was created by antivirus pioneer and MGT Capital CEO John McAfee to ensure that the firm stays abreast of the industry for security and innovation purposes. Voorhees has a long history of involvement with cryptocurrency, and has been referred to by McAfee as someone who is “renowned as a technical innovator.” Voorhees was appointed by Board Chairman Roger Ver, who was himself named to the newly-created group earlier in the week.

The views expressed by the authors on this site do not necessarily represent the views of DCEBrief or the management team.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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