## The hackers responsible for the Dao hack might have stole $85,000 worth of Steem.

![](https://s31.postimg.org/k28eeiacr/Screen_Shot_2016_07_14_at_8_07_10_PM.png) 
## Did the hackers responsible for Dao hack just hack Steemit now? Looks like a very possible scenario.
## Steemit developers need to increase security features after cyber attack. Steemit’s security team was able to catch this attack quicker then Dao it seems.
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# Revamp security
This attack is an eye opening moment for Steemit developers who need to revamp security and make it more challenging to get into anyones account. It didn’t come across my mind until this attack that security is one of the many features that Steemit is lacking in comparison to Coinbase and Bittrex. This might be the same hackers responsible for the Dao hack.

I think Coinbase has about the best security out of all the sites I use almost daily and I hope Steemit developers really pay close attention and come up with the same model of security as Coinbase has. I love that every time I use Coinbase it has a 2-step verification, I have to enter a code that they text to my phone every single time that I log on, this is a second layer of protection that makes me feel more safe about doing business with Coinbase. I would love to see this second layer of protection come to Steemit so that every user has to authenticate who they are, especially if you are withdrawing money out of your account you want this added layer of protection so that someone can't get on and steal your money. 

![](https://s32.postimg.org/r7dlg1f91/Screen_Shot_2016_07_14_at_8_21_43_PM.png)

Also Coinbase and Bittrex use an identity verification system and require you to submit a valid drivers license or ID in order to use certain features and I hope this is also something that Steemit developers will consider implementing as well.
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# Could have been worse

It could have been a lot worse. This attack is nothing in comparison to the Dao hack that had more then $50,000,000 million worth of Ethereum stolen. At least this wasn’t a much bigger attack that could have devastated the entire community. At least this was only a compromise on accounts and not on the entire Steem code. We could have been D.O.A (dead on arrival) if this would have compromised the entire Steem code, and we would be talking about how we lost everything on Steemit right now and how it was such a heist.  
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# Mt. Gox
![](https://s31.postimg.org/d609vvm7v/Screen_Shot_2016_07_14_at_8_45_57_PM.png)
Worse then the Dao attack this could have been Mt. Gox part 2 and we could have lost all Steem coin and be talking about this being a scam right now. If we were going to have an attack I am sure glad it was only this tiny fraction of the currency and not all coins being lost in the hack. Attacks are always bound to happen eventually, if there are large amounts of money involved then  hackers will always find a way to cheat the system and steal our hard earned money that we worked hard for. Look at Target, Mt. Gox, The Dao, [T.J. Maxx back in 2007](http://www.nbcnews.com/id/17871485/ns/technology_and_science-security/t/tj-maxx-theft-believed-largest-hack-ever/#.V4hPbFcumi4). Where there is money, there is a way to steal that hard earned money.
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# Thief’s no longer need to rob a bank they can steal from the comfort of there computer at home

This is the new form of bank robbery folks. The thief’s no longer need to get a gun and go rob a bank. They can just sit at home and find weaknesses in corporate security systems and breach the firewall.   

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# We can take steps to make our accounts more secure
*As a community we all need to increase the security on our accounts.* 
* We need to make our passwords longer make them 20 to 25 combo if we can, a combo of upper case, lower case, numbers, and symbols to increase our security. 
* Never save your password onto a computer. 
* Have a phyisical copy of your password written down in a safe place at home, do not put what website it is for on the paper or someone can steal that and get into it super easy.
* Always log off on public computers.
* And try to avoid public wifi anyone can steal data off your device if they know what they are doing.
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# How it went down
Here is how I believe the Steemit hack went down. Ethereum decided to hard fork just last week in a [unanimous vote](https://www.cryptocoinsnews.com/ethereum-reaches-unanimous-agreement-hardfork/) the hacker took to social media about a month ago posting on virtually every message board about how a soft fork and hard fork would hurt the reputation of the entire Ethereum currency and his argument is that a hardfork would make the currency crater and go down in value because it is a decentralized currency so he made it sound like a fork hard or soft would hurt the reputation of Ethereum as a whole and make it less viable as a currency. His argument was to force Ethereum to not do anything. They played their cards and it did not work out so they or whoever it is has decided to hack certain accounts on Steemit with a passcode generator to make up for their lost Ethereum that they are not going to get. I don't believe in coincidence's and it is sure no coincidence that exactly a week after the hard fork vote we have a another hack in a different currency. Also it makes sense that they took less money then the Ethereum hack because part of the reason Ethereum decided to hard fork is because it was such a large amount of money, so maybe they decided if they try for a small amount of money they can get away with the theft.
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# Lesson learned

I hope this will be a good lesson to the entire community to increase our security and not take it for granted. I hope Steemit developers will implement some good security features to secure all of our accounts. This is minimal damage. $85,000 is nothing compared to what it could have been, we could have been talking about Steemit being bankrupt right now.

#steemit #steem #money #security

sources: wikipedia, and https://daowiki.atlassian.net

## All views expressed in this article are my opinion only this is not meant to harm the Steemit community or Dao community at all.