Ethereum withdrawals stopped after $50 million HACK!

In a stunning turn of events, digital currency exchange, Kraken has announced that they are stopping all Ethereum withdrawals after the DAO, an ethereeum smart contract application was hacked and it is alleged that $ 50 Million dollars has been stolen.

Statement on the Kraken website: –  “This does not appear to affect Kraken but, out of an abundance of caution, and at the request of the Foundation, we have temporarily paused withdrawals in order to prevent any ether stolen from The DAO from flowing through Kraken.”

The Ethereum Foundation, an non-profit that helps guide the digital currency, is calling on digital exchanges to temporarily halt withdrawals in light of the attack. This is a stunning development in itself, showing serious vulnerability in the independence of Ethereum.

Watch the video below  – this is a developing story on which we will keep reporting:

 

 

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