DAO Hack

The DAO Hack was a security breach in 2016 involving "The DAO," a decentralized investment fund built on the Ethereum blockchain. Attackers exploited a vulnerability in its code, allowing them to repeatedly withdraw funds they shouldn't have been able to access. This resulted in the theft of about $60 million worth of Ether. To fix the situation, the Ethereum community decided to implement a hard fork, creating two versions of the blockchain: one with the stolen funds restored and one reflecting the original chain. This event highlighted the importance of security and cautious development in decentralized platforms.