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DAO Hacker Donates Funds to ETC Development Team

By

Danielle

Meegan

WriterETHNews.com

While moving their funds, the DAO hacker donated money to ETC projects.

Earlier this week, the alleged DAO hacker moved their funds from the Ethereum Classic chain.

While transferring the Ether, the hacker moved 1,000 ETC, approximately $1420 at the time of publication, to the Ethereum Classic’s development team. The address was originally listed by ETC member, Bit Novosti, as a donation address to help with future ETC projects. 

This donation kept many believing the theory that the DAO hack in June was an insider job. However, it was a small donation. The hacker stole over 3.6 million Ether, currently valued above $5 million. If this theory were true, the hacker would have sent a significant amount to the ETC developers.

A logical reason for the hacker to donate 1,000 ETC to ETC projects would be considered an act of retaliation against the Foundation. The hard fork terminated any possibility of the hacker receiving funds. The hacker could agree with Ethereum Classic’s policy that “Code is law”, but not because the hard fork caused them to lose $50 million during the hack. The hacker believes they retrieved the funds from the DAO contract legally. 

Danielle Meegan

New Hampshire native, Danielle Meegan, is a writer based in Los Angeles. She has been published in a couple of sports and entertainment magazines and newspapers throughout the years and has dabbled with multiple virtual currency exchanges to understand the 'ins and outs' of trading. Danielle has invested in over 15 different virtual currencies, including Ether.

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