By The value of digital currency Ethereum tanked Friday after hackers stole the equivalent of more than $40 million from an organization that controls large amounts of the cryptocurrency. Attackers exploited a security weakness to steal more than 3.5 million ether tokens from an organization called the DAO, which presently holds 9.2 million tokens, according to its website, worth more than $150 million at the current price.
The value of digital currency Ethereum is spiralling downwards amid a huge hack targeting an organisation with huge holdings of the currency. It’s now below $15 – down from more than $21 just hours ago – and as of writing, it’s continuing to plummet. What’s going on?