The DAO hack
E364853
The DAO hack was a 2016 exploit of a major Ethereum-based investment fund smart contract that led to the theft of millions of ether and ultimately prompted a controversial hard fork of the Ethereum blockchain.
All labels observed (2)
| Label | Occurrences |
|---|---|
| The DAO | 1 |
| The DAO hack canonical | 1 |
Statements (50)
| Predicate | Object |
|---|---|
| instanceOf |
Ethereum incident
ⓘ
cryptocurrency hack ⓘ cybersecurity incident ⓘ smart contract exploit ⓘ |
| affectedProject | The DAO investment fund ⓘ |
| affectedProjectType | decentralized autonomous organization ⓘ |
| approximateValueStolenInEther | about 3.6 million ETH ⓘ |
| approximateValueStolenInUSDAtTheTime | about 50 million USD ⓘ |
| associatedWith |
Ethereum Classic supporters
ⓘ
Ethereum Foundation response ⓘ |
| cause |
recursive call bug
ⓘ
reentrancy vulnerability ⓘ smart contract vulnerability ⓘ |
| communityReaction |
deep division within Ethereum community
ⓘ
support for both fork and no-fork positions ⓘ |
| controversy |
code is law principle
ⓘ
immutability versus intervention debate ⓘ |
| date | 2016-06-17 ⓘ |
| exploitedComponent | The DAO split function ⓘ |
| exploitTechnique | repeated recursive withdrawals ⓘ |
| followedBy |
ongoing legal and regulatory discussions about DAOs
ⓘ
shutdown of The DAO ⓘ |
| governanceIssue | on-chain versus off-chain governance debate ⓘ |
| impact |
highlighted risks of smart contract bugs
ⓘ
increased scrutiny of ICOs ⓘ loss of confidence in The DAO ⓘ regulatory attention to Ethereum and DAOs ⓘ |
| legalCharacterization | disputed theft versus legitimate use of contract code ⓘ |
| locationInBlockchain |
Ethereum blockchain
ⓘ
surface form:
Ethereum mainnet
|
| notableFor |
being one of the earliest major DeFi-related exploits
ⓘ
leading to permanent split between ETH and ETC ⓘ |
| platform |
Ethereum blockchain
ⓘ
surface form:
Ethereum
|
| precededBy | launch of The DAO in 2016 ⓘ |
| response |
community vote on hard fork
ⓘ
introduction of best practices for smart contract development ⓘ security audits of Ethereum smart contracts ⓘ temporary halt of The DAO operations ⓘ |
| result |
Ethereum hard fork
ⓘ
creation of Ethereum Classic ⓘ loss of user funds ⓘ network split ⓘ theft of ether ⓘ |
| securityLesson |
importance of formal verification for smart contracts
ⓘ
need for upgradable contract patterns ⓘ risk of unaudited complex smart contracts ⓘ |
| target |
The DAO hack
self-linksurface differs
ⓘ
surface form:
The DAO
|
| timeToDrainFunds | spread over several hours ⓘ |
| triggeredEvent |
Ethereum hard fork at block 1920000
ⓘ
creation of Ethereum Classic chain ⓘ |
| year | 2016 ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.
this entity surface form:
The DAO