kaal:claim:3071378-012

The DAO failed because its code had not yet been perfected: hackers took a third of the DAO tokens and transferred them to another account, and that hack together with other technological limitations led to the demise of the DAO.

Unfortunately, the code had not yet been perfected and hackers were able to take a third of the DAO tokens and transfer them into another account. This hack and other technological limitations, led to the demise of the DAO.58

Wulf A. Kaal, Blockchain Technology and Race in Corporate America (2017), II.2 Limitations, p. 14
https://ssrn.com/abstract=3071378 · source PDF

Wulf A. Kaal, Blockchain Technology and Race in Corporate America (2017). SSRN: https://ssrn.com/abstract=3071378

• The DAO, launched May 2016 on Ethereum

failuresupport: evidencedfailure: dao-code-vulnerabilityfamily: smart-contract-bug-and-exploitdaogovernance-design

• restated_by kaal:claim:3373393-030 Fundamental flaws in the DAO code enabled hackers to transfer one third of total funds to a subsidiary account...
• restates kaal:claim:2939127-030 Fundamental flaws in the DAO's code let hackers move one third of its total funds to a subsidiary account, and...
• restates kaal:claim:2998033-007 The DAO failed because of fundamental flaws in its own code, which allowed hackers to move one third of its fu...
• restated_by kaal:claim:3227933-035 Fundamental flaws in the DAO's code allowed hackers to transfer one third of the total contributed funds to a ...

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