Did they move too fast? Using ultra-secure code dispersed on a worldwide network, Ethereum’s creators took blockchain, the programming concept that’s enabled bitcoin’s success, to another level. But a year ago, when their ether currency’s collective value hit $250 million, a bug was discovered — almost simultaneously by programmers and hackers — setting off a high-stakes cyber war.
Ethereum limited the theft by rebooting the network, but purloined currency stayed active, attracting new traders while the thieves remained anonymous, their modest heist appreciating to $67 million — thanks to a system that runs itself.
