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Smart Contract Exploit Drains 8,536 ETH, Worth $26 Million

Around $26 million in Ethereum was reportedly stolen in a smart contract (self-executing blockchain code) vulnerability discovered just one hour ago.

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Summary

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Terms & Concepts
  • Smart Contract: A self-executing blockchain code that automatically enforces agreements when predefined conditions are met.
  • ETH (Ethereum): The native cryptocurrency of the Ethereum blockchain, used for transactions and smart contract operations.