The source states a failed Ethereum initial coin offering from 2016 moved 1,003 ETH after using a weakness in its own smart contract (self-executing blockchain code).
A failed Ethereum initial coin offering (fundraising sale of new crypto tokens) from 2016 has reportedly unlocked 1,003 ETH by exploiting a vulnerability in its own smart contract (self-executing blockchain code). The source provides only the core claim and amount moved, without naming the project, wallet addresses, timing details, or the technical method used. The incident highlights a recurring risk in early Ethereum-era contracts, where flawed code could leave funds inaccessible or exposed long after a project ceased operating.