Ethereum creator Vitalik Buterin says recent high fees could be blackmail.
Multiple transactions recently incurred millions in transaction fees on the Etheruem network, which creator Vitalik Buterin thinks could have been blackmail.
“So the million-dollar txfees *may* actually be blackmail,” Buterin said in a June 12 tweet.
Proposing his theory on the situation, Buterin explained:
“Hackers captured partial access to exchange key; they can’t withdraw but can send no-effect txs with any gasprice. So they threaten to ‘burn’ all funds via txfees unless compensated.”
This story is currently developing. We will update accordingly as new information is available.