kaal:claim:2922176-035

Fundamental flaws in the DAO's code allowed hackers to move one third of contributed funds to a subsidiary account, ending that initiative, but the flaws were in the implementation and do not defeat the DAO vision, which developers continue to rebuild.

Source quote, verbatim
The initial DAO did not end well, but DAO enthusiasts and coders are developing new structures to address the flaws of the existing DAO infrastructure. Fundamental flaws in the DAO code made it possible for hackers to transfer one third of the total contributed funds to a subsidiary account.
From

Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, The ‘Unmediated’ and ‘Tech-Driven’ Corporate Governance of Today's Winning Companies (2017), VI. Decentralized Corporate Governance, p. 46
https://ssrn.com/abstract=2922176 · source PDF

Cite as

Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, The ‘Unmediated’ and ‘Tech-Driven’ Corporate Governance of Today's Winning Companies (2017). SSRN: https://ssrn.com/abstract=2922176

Holds when
Classification

failuresupport: evidencedfailure: DAO code flaw exploitfamily: smart-contract-bug-and-exploitdaoblockchainsmart-contractsdecentralizationgovernance-design

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