The Bancor network, billed as a protocol for creating smart tokens using smart contracts on the Ethereum database was forced to alter the terms of its "initial coin offering" "due to massive malicious attacks on network & resulting pending transaction bottleneck". First thought by Ether huffers to be due to a bad actor attempting to prevent the "initial coin offering" from taking place, it was later discovered that transactions to the Bancor "smart" contract address itself was causing the DDoS attack on the network. During the course of the attack it was revealed that despite an advertised cap on the number of tokens proffered in the crowdsale, the contract owners could create new tokens at any time they liked at no additional cost. Despite the signs pointing to impending disaster and a possible repeat of history, the creators managed to capture over $150 million US dollars in the first 3 hours of the crowdsale.