The DAO That Got Hacked and Forked History

In 2016 a bold experiment launched on Ethereum — simply called The DAO

It was one of the first decentralized autonomous organizations a leaderless VC fund where holders of DAO tokens could vote on how to invest over $150 million in ETH

But the code had a flaw A hacker exploited it and drained over $60 million in ETH sparking a massive crisis in the Ethereum community

The result Ethereum was hard-forked into two chains — Ethereum (ETH) and Ethereum Classic (ETC)

It was a defining moment in crypto showing both the power and risk of trustless code and the real stakes of building onchain

The DAO That Got Hacked and Forked History

In 2016 a bold experiment launched on Ethereum — simply called The DAO

It was one of the first decentralized autonomous organizations a leaderless VC fund where holders of DAO tokens could vote on how to invest over $150 million in ETH

But the code had a flaw A hacker exploited it and drained over $60 million in ETH sparking a massive crisis in the Ethereum community

The result Ethereum was hard-forked into two chains — Ethereum (ETH) and Ethereum Classic (ETC)

It was a defining moment in crypto showing both the power and risk of trustless code and the real stakes of building onchain

https://en.wikipedia.org/wiki/The_DAO_(organization)