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The DAO Hack: A Blockchain Dilemma
Robert D. Austin; Helen LangCase IVEY-9B20E017-EEntrepreneurship, Information TechnologiesOn June 17, 2016, the founders of the Decentralized Autonomous Organization (DAO), an experimental venture capital network based on blockchain technology, discovered they had been victims of an attack—a theft of investors' cryptocurrency worth about US$55 million. Because the attacker ingeniously exploited a flaw in the rules that governed the operations of the DAO, as written into a smart contract, it was possible to argue, as the attacker did, ...Starting at €8.20