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Cornell Prof Uncovers Bugs in Smart Contract System, Urges More Safety in Program Design

The opening scene of Christopher Nolan’s The Dark Knight represents the quintessential bank heist. Joker and crew, armed with guns, break into a bank and manage to whisk away gunny bags full of cash. However, not all robberies are this dramatic. As cryptocurrencies become more popular, millions of dollars can be swindled with just the click of a button. In May, Prof. Emin Gun Sirer, computer science, and his colleagues discovered a bug that left DAO, a smart contract that crowdsources investment proposals, vulnerable to such heists.