Crypto Tales Edition : 1
The DOA HACK (ETHEREUM'S DARK DAY)!
Back in 2016, Ethereum was still new, and people were dreaming big.
Then came The DAO — a “decentralized venture capital fund” with no CEO, no bank, just code. Investors could vote on which projects to fund, and the hype was unreal. In weeks, it pulled in 12 million $ETH — worth about $150M at the time.
But hidden in the code was a small bug. A few devs spotted it, warned about it, but the party kept going.
On June 17, someone used that flaw to drain 3.6 million ETH into their own account. No password crack, no hacking into servers — just playing the code against itself. Everyone could watch it happening live on the blockchain, helpless.
The community split in two: some said “code is law” and should never be changed, others wanted to roll it back. Ethereum forked, returning funds on the new chain (ETH), while the old chain kept the hack in history (ETC).
One bug, two Ethereums, and a permanent scar on crypto’s history.
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