🧵This is what you didn't know about $ETH

Huge $60M scam || Emergence of $ETC || Blockchain rollback

All of this was real

:How ETH almost disappeared forever ? ↓

Alpha Hunter || DeFi and Airdrop researcher || Influencer

/1 
2016. ETH just got a huge hype and recognition from the community

The team of a new startup decides to merge with ethereum and create The DAO

Everyone could exchange their $ETH for DAO tokens and participate in the management of the DAO

/2
The project is becoming a huge success !

They raised $100M instead of $20M as planned.
$12.7M $ETH at the time.

Everyone is shocked by the incredible success and no one could have predicted the disaster

/3 
But experienced coders soon noticed a critical problem in the code

It could have destroyed The DAO.

But the funders responded that there was no problem and the code was written without errors

/6 
On this day, etherium split into $ETH and $ETC

All users who did not agree to rollback the blockchain moved to $ETC. Their etherium did not change and moved to the community itself.

In $ETH on the other hand the foundation remained

/5
Vitalik was faced with a very difficult choice.

To violate the blockchain philosophy and betray his ideas or to let the hacker take all $ETH, which would lead to the destruction of the blockchain

After a hard vote, they chose to roll back the blockchain.

/4
17th June 2016 9 AM. 
An event happened that changed the crypto industry forever

A hacker using a “child DAO” took $60M users off the record 

he used the splitDAO function and constantly sent requests to get tokens