Hack Leads to Plummeting Value of Ethereum Digital Currency
The value of Ethereum, a cryptocurrency somewhat similar to bitcoin, has plummeted following a hack on The DAO’s Ethereum holdings. The DAO is a decentralized and virtual organization designed to provide funds for new projects. Those funds are held and dispersed as Ether. The DAO itself is the single largest holder of Ether; in excess of 9.2 million prior to the hack.