The Protocol Hack
Total supply: 50On Aug. 15 2010, an unknown hacker nearly destroyed Bitcoin. The hacker generated 184.467 billion Bitcoin out of thin air in what has become known as the Value Overflow Incident.Satoshi Nakamoto, Bitcoin’s infamous and anonymous creator, created a code fix within 3 hours of the incident first being reported on Bitcointalk. Early Bitcoin developer Gavin Andresen worked alongside Satoshi to bring about a quick resolution. Within 5 hours of the incident, Satoshi released version 0.3.1 of Bitcoin, which prevented future printing of Bitcoins via this exploit and rewound the blockchain to erase the hacked 184.467 billion Bitcoins.
January 15, 2022