$5 million worth of ETC stolen from The DAO moved to a new account

More than $5 million worth of digital currency related to The DAO attack is currently being moved.

This has been confirmed by analyzing the Ethereum Classic blockchain, with the findings coming from data analyst Bok Khoo. Khoo, founder of New Zealand-based Bok Consulting, said his work suggests that more than 3.6 million ETC may have been moved to a new account earlier this week.

The transfer of these funds may be deeply related to the controversial failure of The DAO.

After the DAO hack, an unknown group managed to transfer about $60 million worth of ether to an account they controlled, and the attack ultimately led to a hard fork of Ethereum in order to recover the stolen funds and return them to their original owners. However, not everyone agreed with the hard fork decision.

This decision ultimately led to an ideological split in the Ethereum community, with Ethereum Classic continuing to use the original transaction history and account balances. In the process of revitalizing the original blockchain, The DAO attackers also gained access to the stolen funds, and now it seems that they are seizing this opportunity.

Currently, 1,000 ETC (worth about $1,500) has been transferred from the new account confirmed by Khoo to an account associated with ETC developers.

Since the funds are currently located in an account that does not appear to be subject to The DAO’s withdrawal policy, they can currently be withdrawn.

Khoo has confirmed the new address that The DAO funds were moved to, and has shown that the funds came from an earlier account associated with The DAO.

What will happen next is uncertain.

For example, there don’t appear to be any online marketplaces that accept ETC in exchange for goods.

One digital currency exchange that currently trades ETC has stated that they have been working with "law enforcement" to investigate these funds before the additional funds linked to The DAO attack are released.

However, it is unclear whether other exchanges will trade the funds, and whether the current owners of the funds might seek an on-site exchange that is more difficult to track.