Out of the Ether: The Amazing Story of Ethereum and the $55 Million Heist That Almost Destroyed It All - Hardcover

by Matthew Leising (Author)

Discover how $55 million in cryptocurrency vanished in one of the most bizarre thefts in history

Out of the Ether: The Amazing Story of Ethereum and the $55 Million Heist that Almost Destroyed It All tells the astonishing tale of the disappearance of $55 million worth of the cryptocurrency ether in June 2016. It also chronicles the creation of the Ethereum blockchain from the mind of inventor Vitalik Buterin to the ragtag group of people he assembled around him to build the second-largest crypto universe after Bitcoin.

Celebrated journalist and author Matthew Leising tells the full story of one of the most incredible chapters in cryptocurrency history. He covers the aftermath of the heist as well, explaining the extreme lengths the victims of the theft and the creators of Ethereum went to in order to try and limit the damage. The book covers:

• The creation of Ethereum
• An explanation of the nature of blockchain and cryptocurrency
• The activities of a colorful cast of hackers, coders, investors, and thieves

Perfect for anyone with even a passing interest in the world of modern fintech or daring electronic heists, Out of the Ether is a story of genius and greed that's so incredible you may just choose not to believe it.

Front Jacket

In June of 2016, ^$55 million worth of the cryptocurrency ether vanished in one of the biggest hacks in the history of crypto. By exploiting a bug in a contract that held ^$250 million, hackers stole the funds in the digital equivalent of broad daylight, siphoning off the money in full view of anyone with an internet connection.

Out of the Ether: The Amazing Story of Ethereum and the ^$55 Million Heist that Almost Destroyed It All tells the compelling tale of the cryptocurrency heist that shook the world of blockchain as well as the early history of the brilliant and often eccentric coders and hackers who created Ethereum, the second most-valuable blockchain after Bitcoin.

Author and reporter Matthew Leising paints vivid portraits of the inventor of Ethereum, Vitalik Buterin, and many of the cofounders he gathered around him. While the hackers who made off with the $55 million have never been caught, Leising reveals here a person associated with the 2016 attack, whom he identified using blockchain forensics, encrypted messages, and insider sources. The book details the dramatic and, to some, unthinkable "fix" to the hack dreamt up by Buterin and others in the Ethereum community. A fix so controversial, many predicted that it, and not the attack itself, would prove to be the undoing of Ethereum.

Out of the Ether provides in-depth coverage not only of the massive heist that forms the core of the narrative, but also the technological, social, and economic questions raised by Ethereum and other cryptocurrencies. The book examines questions of decentralization, anonymity, and privacy in light of the actions of the larger-than-life coders, developers, and hackers in the story.

Perfect for anyone with even a passing interest in daring heists, digital financial technologies, or blockchain, Out of the Ether is a thriller so cutting-edge you may just choose not to believe it.

Back Jacket

PRAISE FOR OUT OF THE ETHER

"Matthew Leising writes here the definitive book on the early history of Ethereum, a fascinating story about crypto in the early 'wild west' years. It filled in some gaps for me. Fun to look back at how it all began now that cryptocurrencies are stable, trusted, and so needed for the global economy ahead."--TIM DRAPER, Founder, Draper Fisher Jurveston

"This is the fascinating story about the early days of Ethereum, a cryptocurrency and virtual computer that is shaping, and will continue to shape, the future of the internet for decades to come. Its growing value has attracted hackers looking for a virtual payday like moths to a flame. Leising takes it upon himself to try and solve one of the biggest hacks in the history of crypto using a combination of sources and breadcrumbs on the blockchain. A must-read crime procedural for the Age of Crypto."--CAMERON WINKLEVOSS, Co-Founder and President, Gemini Cryptocurrency Exchange

"Matt Leising has written a real page-turner. Proving that real life is much stranger than fiction, he lays out the true story of the ^$55 million heist that threatened to undermine the Ethereum blockchain and its place in the next internet revolution. It's a great ride and a great read. Leising explains the technicalities in concepts that we can all understand while recounting the dramatic 2016 DAO hack and the extraordinary counter measures that prevented it from being far, far worse. I couldn't put this book down." --J. CHRISTOPHER GIANCARLO, Former Chairman, US Commodity Futures Trading Commission

Author Biography

MATTHEW LEISING is one of the foremost blockchain reporters in the world who has been covering the emerging technology for Bloomberg News since 2015. His understanding of the underlying systems allows him to translate complicated topics into easy to understand narratives, whether they're about the intersection of blockchain and Wall Street or the many scams and questionable practices that pervade crypto. Out of the Ether was born from his 2017 story "The Ether Thief" for Bloomberg Markets Magazine.