The History of DAO Creation and Its Hacking

DAO (Decentralized Autonomous Organization) is an autonomous organization governed by smart contracts on the blockchain. It was conceived as a way to create decentralized solutions without the need for centralized institutions. In 2016, the DAO project drew the attention of the cryptocurrency community due to its ambitious approach. However, just a few months later, a hack occurred. Hackers found a vulnerability in the smart contract that allowed them to withdraw over $50 million in Ether. This incident became a pivotal moment for rethinking security in blockchain and led to the creation of the Ethereum Hard Fork, which returned the funds to investors.