MIT Students Stole $25 Million In Seconds By Exploiting ETH Blockchain Bug, DOJ Says
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Billy Restey is a digital artist who runs a studio in Seattle. But after hours, he hunts for rare chunks of bitcoin. He does it for the thrill. βItβs like collecting Magic: The Gathering or PokΓ©mon cards,β says Restey. βItβs that excitement of, like, what if I catch something rare?β
In the same way a dollar is made up of 100 cents, one bitcoin is composed of 100 million satoshisβor sats, for short. But not all sats are made equal. Those produced in the year bitcoin was created are considered vintage, like a fine wine. Other coveted sats were part of transactions made by bitcoinβs inventor. Some correspond with a particular transaction milestone. These and various other properties make some sats more scarce than othersβand therefore more valuable. The very rarest can sell for tens of millions of times their face value; in April, a single sat, normally worth $0.0006, sold for $2.1 million.
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