The cyberattack this morning has effectively doomed the ether-based project that seemed so hopeful only a day ago. The Ethereum platform itself, however, in the long term is safe from harm.

The massive attack which resulted in $53 mln worth of ether moved from the DAO account went down like a bomb on the Ethereum community. Though the hacker admittedly will not be able to withdraw the stolen money, investors are not likely to put their funds at risk again, believe co-founder of cyber•Fund Dima Starodubcev and CEO of Satoshi•Fund Konstantin Lomashuk.

Dima Starodubcev: What has happened only proves one more time that there should be no rush building something on smart contracts. 

Nevertheless, it is quite commendable that the community was quick on the draw and produced an intelligent solution to remedy the effects of the catastrophe. Whether the network will back up this decision [an implementation of soft and hard forks] will be clear in two months. 

Konstantin Lomashuk: The DAO case and its death will affect the [Ethereum] price in the short term as 14% of ether will be cast back to the market. My long-term recommendation for Ethereum is to buy and hold. Though Poloniex now offers an extra premium for risk, in case something goes wrong, about 20%, if you are buying DAO tokens with ether.  It is a chance to gain some extra profit.

Dima Starodubcev: Or maybe a chance to lose more ether instead of gaining extra profit. It is another possibility to consider.

CoinFox: Do you believe the DAO’s death is inevitable?

Dima Starodubcev: It is inevitable.

Nadya Krasnushkina