kaal:claim:3373393-030

Fundamental flaws in the DAO code enabled hackers to transfer one third of total funds to a subsidiary account, and that hack combined with additional technological limitations brought down the first DAO initiative.

This hack in combination with additional technological limitations brought down the first DAO initiative.

Wulf A. Kaal, Blockchain Solutions for Agency Problems in Corporate Governance (2019), III.2 Removal of Agents, p. 19
https://ssrn.com/abstract=3373393 · source PDF

Wulf A. Kaal, Blockchain Solutions for Agency Problems in Corporate Governance (2019). SSRN: https://ssrn.com/abstract=3373393

• the first DAO, 2016

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

• 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:3227933-035 Fundamental flaws in the DAO's code allowed hackers to transfer one third of the total contributed funds to a ...
• restates kaal:claim:3071378-012 The DAO failed because its code had not yet been perfected: hackers took a third of the DAO tokens and transfe...
• restates kaal:claim:2922176-035 Fundamental flaws in the DAO's code allowed hackers to move one third of contributed funds to a subsidiary acc...
• 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...

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