{"id":8679,"date":"2022-02-22T22:34:25","date_gmt":"2022-02-22T22:34:25","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/journalist-alleges-mimo-capital-co-founder-was-behind-2016-exploit-of-the-dao-report\/"},"modified":"2022-02-22T22:34:27","modified_gmt":"2022-02-22T22:34:27","slug":"journalist-alleges-mimo-capital-co-founder-was-behind-2016-exploit-of-the-dao-report","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/journalist-alleges-mimo-capital-co-founder-was-behind-2016-exploit-of-the-dao-report\/","title":{"rendered":"Journalist alleges Mimo Capital co-founder was behind 2016 exploit of The Dao: Report"},"content":{"rendered":"
Laura Shin, a cryptocurrency journalist and host of the Unchained Podcast, claimed to have discovered the identity of the individual behind an exploit which drained more than 3.6 million Ether from Germany-based startup Slock.it\u2019s The DAO in 2016.<\/p>\n
According to a Tuesday Bloomberg report, Shin claimed that she had \u201cextremely strong evidence\u201d that Mimo Capital co-founder Toby Hoenisch was responsible for removing more than 3.6 million Ether (ETH) from The DAO in June 2016 \u2014 roughly $50 million at the time. An unknown hacker used an exploit to drain roughly a third of The DAO\u2019s ETH supply, forcing developers to hard fork the network and leaving the illicit funds in what became the Ethereum Classic (ETC) blockchain.<\/p>\n
\nEXCLUSIVE:
With the publication of my book today, I can finally announce: in the course of writing my book, my sources and I believe we uncovered the identity of the Ethereum’s 2016 DAO hacker.<\/p>\n\u2014 Laura Shin (@laurashin) February 22, 2022<\/a><\/p><\/blockquote>\n
Shin\u2019s research conducted with Ethereum developer Alex Van de Sande and blockchain analytics firm Chainalysis alleged that Hoenisch was aware of the exploit weeks before the attack occurred on June 17, 2016. According to Van de Sande, the hacker used<\/a> crypto exchange Shapeshift to convert the pilfered ETC \u2014 following the hard fork \u2014 to Bitcoin (BTC). They believe the attacker then use crypto wallet Wasabi to mix the BTC, four \u201cdifferent central exchanges\u201d to further launder the funds, and finally privacy-focused cryptocurrency Grin \u201cfor added privacy.\u201d<\/p>\n
Chainalysis said it was able to de-mix the crypto transactions and trace the funds to exchanges that later received the tokens in accounts allegedly managed by Hoenisch. The firm added<\/a> that \u201cthis is yet another example of evidence preserved on the blockchain forever.\u201d <\/p>\n