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Gate.io Blog:TheDAO Theft:The Story of the Ethereum Hard Fork Explained

2022-03-09 09:00:31 UTCRead:30534

【TL; DR】

1. As a decentralized investment fund on the Ethereum platform, TheDAO is also by far the largest crowdfunding project in the world.

2. TheDAO was hacked on June 17, 2016. Attackers hijacked over 3.6 million ether by exploiting a recursive vulnerability in TheDAO smart contracts.

3. Ethereum officially launched a hard fork on July 20, 2016. Community members who did not support the fork would still mine on the original chain, and the name was renamed Ethereum Classic.

4. Compared to normal program development, the development of smart contracts is more special, for that the development programs must be highly precise.

Having just been hit hard by the theft of TheDAO, the Ethereum community made a prompt and resolute decision in July 2016. Ethereum not only recovered after that setback but also grew stronger, becoming the king of blockchains that drove the trends like the IC0, DeFi, and NFT...

For more information on the specific analysis process, please read this blog:TheDAO Theft:The Story of the Ethereum Hard Fork Explained

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March 9

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