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Matthew Leising - The Amazing Story of Ethereum and the $55 Million Heist that Almost Destroyed It All

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Discover how $55 million in cryptocurrency vanished in one of the most bizarre thefts in historyOut of the Ether: The Amazing Story of Ethereum and the $55 Million Heist that Almost Destroyed It All tells the astonishing tale of the disappearance of $55 million worth of the cryptocurrency ether in June 2016. It also chronicles the creation of the Ethereum blockchain from the mind of inventor Vitalik Buterin to the ragtag group of people he assembled around him to build the second-largest crypto universe after Bitcoin.Celebrated journalist and author Matthew Leising tells the full story of one of the most incredible chapters in cryptocurrency history. He covers the aftermath of the heist as well, explaining the extreme lengths the victims of the theft and the creators of Ethereum went to in order to try and limit the damage. The book covers:- The creation of Ethereum- An explanation of the nature of blockchain and cryptocurrency- The activities of a colorful cast of hackers, coders, investors, and thievesPerfect for anyone with even a passing interest in the world of modern fintech or daring electronic heists, Out of the Ether is a story of genius and greed thats so incredible you may just choose not to believe it.

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Table of Contents Guide Pages Out of the Ether The Amazing Story of Ethereum - photo 1
Table of Contents
Guide
Pages
Out of the Ether
The Amazing Story of Ethereum and the $55 Million Heist that Almost Destroyed It All

Matthew Leising

Copyright 2021 by Matthew Leising All rights reserved Published by John Wiley - photo 2

Copyright 2021 by Matthew Leising. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at www.wiley.com/go/permissions.

Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.

For general information on our other products and services or for technical support, please contact our Customer Care Department within the United States at (800) 762-2974, outside the United States at (317) 572-3993, or fax (317) 572-4002.

Wiley publishes in a variety of print and electronic formats and by print-on-demand. Some material included with standard print versions of this book may not be included in e-books or in print-on-demand. If this book refers to media such as a CD or DVD that is not included in the version you purchased, you may download this material at http://booksupport.wiley.com. For more information about Wiley products, visit www.wiley.com.

Library of Congress Cataloging-in-Publication Data is Available:

ISBN 9781119602934 (Hardcover)
ISBN 9781119602958 (ePDF)
ISBN 9781119602941 (ePub)

COVER DESIGN: PAUL McCARTHY
COVER ART: GETTY IMAGES | JOSE A. BERNAT BACETE

Dedication

For Rebecca, my life, my love. You always believed I could do this when I'd convinced myself otherwise. For that, you have my undying gratitude and thanks.

Cast of Characters
Ethereum Cofounders
  • Vitalik Buterin Ethereum inventor, ringleader, onetime fashion maven, and lover of bunnies
  • Anthony Di Ilorio Created Toronto's first Bitcoin meetup, early and important investor in Ethereum, later pushed out in a power struggle
  • Charles Hoskinson One of the first five cofounders, wanted to lead the project from the start, fired after six months for abusive and manipulative behavior
  • Amir Chetrit Met Vitalik in Israel working on colored coins project, unclear what he contributed to Ethereum, fired for lack of commitment
  • Mihai Alisie Cofounder of Bitcoin Magazine with Vitalik, helped set up Ethereum's Zug headquarters, business development
  • Gavin Wood Architect of Ethereum, C++ client creator, a bit prickly, took Vitalik's vision and made it real
  • Jeff Wilcke Created Ethereum's Go client, sided with developers on power struggle question
  • Joe Lubin Early and important investor in Ethereum, former software developer and Wall Street software engineer, true believer, user of strange words, founder of Ethereum development studio ConsenSys
Other important early people
  • Roxana Sureanu Helped get Bitcoin Magazine off the ground, willing hardscrabble traveler, turned the Spaceship House from a dwelling into a home
  • Stephan Tual Ethereum evangelical, ran marketing for the project, has the gift of gab, one of three founders of slock.it, added to Ethereum leadership after Zug purge
  • Christoph Jentzsch Helped debug Ethereum code in run up to 2015 launch, theoretical physicist by training, co-founded slock.it, really wishes he could revisit line 666 in the DAO code
  • Mathias Grnnebk Helped establish Zug headquarters, reader of tax laws, worked for Charles Hoskinson, helped craft Ethereum Foundation business plan
  • Taylor Gerring Helped secure Bitcoin raised in Ethereum crowdsale, taker of many photos, added to Ethereum leadership after Zug purge
  • Anthony D'Onofrio Designer and software developer, helped improve early Ethereum web site, took drugs, saw future, one of the few people Gav Wood likes
  • Emin Gn Sirer Blockchain pioneer, first to use proof of work to back a digital coin, Cornell associate professor of computer science, called unsuccessfully for a moratorium on the DAO then found the DAO bug and dismissed it
  • Peter Vessenes Bitcoin pioneer, tangled with the Bitcoin Foundation, pointed out smart contract security issues
  • Ming Chan First executive director of the Ethereum Foundation, whipped it into shape to keep it within its means, Vitalik favored her though she rubbed many the wrong way
Badass blockchain ninja warriors
  • Alex Van de Sande Known as avsa, helped marshal the Robin Hood Group from his apartment in Rio, co-developed the Mist wallet, excellent husband, the one who pushed the button to start the DAO counterattack
  • Griff Green The Mayor of Ethereum circa June 2016, hugger, visionary, driver of the RHG, slock.it's first employee, wants a sick jump shot but it's just not happening this time around
  • Fabian Vogelsteller tech whiz who helped the RHG prepare to fight the ether thief, co-developed Mist wallet
  • Lefteris Karapetsas coding guru, replicated DAO attack in a few hours
  • Jordi Baylina helped the RHG drain remaining $4 million of ether from the DAO, coding genius, Spanish freedom fighter
Other really important early people
  • Dmitry Buterin Vitalik's dad, supportive father, hater of communists
  • Natalia Buterin Vitalik's mom, patient mother, adventurous spirit
  • Maia Buterin Vitalik's step mom, patiently waited for Vitalik's cooking
Important people who helped Ethereum go mainstream
  • Amber Baldet Hands-on builder, coder, vital within JPMorgan to link Ethereum to its in-house Quorum project
  • Christine Moy Amber's first hire for Quorum within JPMorgan, finance master in all areas of the bank
  • Patrick Nielsen Hired by Amber at JPMorgan, solved the privacy issue for the bank that gave birth to the Quorum ecosystem
  • Marley Gray Microsoft director of blockchain and distributed ledger business development in 2015, lover of Andrew Keys, delivered on Microsoft's vision of a growth mindset by linking up with Ethereum
  • Alex Batlin Ran UBS Labs, a fintech-focused unit at the Swiss bank, instrumental in creation of Enterprise Ethereum Alliance
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