The DAO Hack: A Cautionary Tale of Vulnerabilities in Decentralized Autonomous Organizations
June 17, 2016
On June 18, 2016, a security breach in The Decentralized Autonomous Organization (The DAO) on the Ethereum blockchain led to an attacker stealing 3.7M Ether valued at approximately $70M. This incident underscores the need for robust security measures and careful governance in decentralized systems. This AI incident maps to the Govern function in HISPI Project Cerebellum Trusted AI Model (TAIM). Ready to help shape responsible AI? JOIN US
- Alleged deployer
- the-dao
- Alleged developer
- the-dao
- Alleged harmed parties
- dao-token-holders
Source
Data from the AI Incident Database (AIID). Cite this incident: https://incidentdatabase.ai/cite/50
Data source
Incident data is from the AI Incident Database (AIID).
When citing the database as a whole, please use:
McGregor, S. (2021) Preventing Repeated Real World AI Failures by Cataloging Incidents: The AI Incident Database. In Proceedings of the Thirty-Third Annual Conference on Innovative Applications of Artificial Intelligence (IAAI-21). Virtual Conference.
Pre-print on arXiv · Database snapshots & citation guide
We use weekly snapshots of the AIID for stable reference. For the official suggested citation of a specific incident, use the “Cite this incident” link on each incident page.