The Dao Hacker has just cashed out - Is this the end for ETC? by cloh76

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crypto-news · @cloh76 · Oct 28 '16 (edited)

$0.21

The Dao Hacker has just cashed out - Is this the end for ETC?

For those of you that have been following Ethereum Classic and are familiar with the previous hacking of The DAO, new yet unsurprising news has just surfaced that the DAO Hacker has just cashed out some of her/his stolen funds. 

<center>http://btc-times.com/wp-content/uploads/2016/06/hacker-1024x571.jpg</center><center><a href ="http://btc-times.com/wp-content/uploads/2016/06/hacker-1024x571.jpg">[Picture Source]</a></center>

According to <a href ="https://www.bokconsulting.com.au/blog/the-dao-hackers-booty-is-on-the-move/">Bok Consulting</a>, the unidentified hacker has just converted close to $100,000 dollars worth of ETC into Bitcoin by dividing roughly 100,000 ETC into smaller amounts stored in different addresses.  He then used Shapeshift to convert the funds from the different addresses to Bitcoin.

<center>https://i.imgsafe.org/383456b682.jpg</center><center><a href ="https://gastracker.io/addr/0x5e8f0e63e7614c47079a41ad4c37be7def06df5a">Hackers ETC Address - Follow the funds</a></center>

Because shapeshift users can remain anonymous, the hacker has the potential to disappear without ever being discovered.  As most people know, the price of ETC has steadily been dropping, so this may have encouraged the hacker to begin "dumping his/her load" before the price hits rock bottom.  This could possibly have just been a test run to see if he/she would be successful.

<center>https://i.imgsafe.org/385a1d148d.jpg</center>

There is still roughly  3.5Million ETC in the Hackers <a href ="https://gastracker.io/addr/0x5e8f0e63e7614c47079a41ad4c37be7def06df5a">Wallet</a> worth about $3.5 Million at current value.  If you are currently holding onto ETC, you may want to start consider selling before the bottom falls out from under you and you are left holding the bag.

<center>https://i.imgsafe.org/38342e22b6.jpg</center>

How do you think this will affect the ETC price?  Do you think the hacker will completely cash out?  Do you think this will be good for ETH?

Please let me know what you think in the comments below
<center><a href="https://steemit.com/@cloh76"><img src="https://img1.steemit.com/0x0/https://i.imgsafe.org/d7818c743f.gif"></a></center>

👍 joseph, wang, fyrstikken, krnel, bue, coininstant, thecryptofiend, tobixen, lichtblick, pollux.one, peterz, shortcut, noganoo, dek, masteryoda, technology, juvyjabian, cloh76, johnerfx, mokluc, shredlord, supergoodliving, bmwrider, isteemit, yanik, ace108, bue-witness, cynetyc, blocho, boy, laonie4, giantbear, seth-krings, kyusho, billykeed, mini, mxu111, future24, arisa, auction, sabsel, daniel.pan, applecrisp, develcuy, leposkin, acquire, bunny, healthcare, ahead, johnerminer, allyouneedtoknow, sergey44, z3r0d4yz, helen.tan, moon, hemp, thegoodvybe, nimanemolode, kirilasandrozel, blackseekergole, reterlaura, kennett, survival, gardening, and 4 others

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@billykeed · Oct 28 '16

damn that hacker score big

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@cloh76 · Oct 28 '16 (edited)

Yep.  He is getting out while the getting is still good.  He was probably riding ETC hoping the value would spike at some point.  The recent successful hard fork didn't have a positive impact on the price.

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@billykeed · Oct 28 '16

yea he was still gambling but then he saw the light and decided to run with the loot.

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@juvyjabian · Oct 28 '16

Definitely, he/she will cash out. I guess that was the point at all. Damn good hackers.

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@cloh76 · Oct 28 '16

Agreed.

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@thecryptofiend · Oct 28 '16

I don't think it is the end for ETC unless the hacker actually wants to minimise their own gains.  The longer ETC survives the more money they can potentially recover.

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@cloh76 · Oct 28 '16

With the price continuously declining, I think he will cash out completely before everyone else does

👍 thecryptofiend

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