The DAO Hack

June 17, 2016

On June 18, 2016, an exploit targeting a vulnerability in The Decentralized Autonomous Organization (The DAO) on the Ethereum blockchain led to a theft of 3.7M Ether, worth approximately $70M. This incident serves as a reminder of the importance of implementing robust governance and safeguards for any autonomous system or AI project.

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Matched TAIM controls

Suggested mapping from embedding similarity (not a formal assessment). Browse all TAIM controls

MAP 3.2 — similarity 0.645, rank 1. TAIM detail and related incidents →
MAP 4.1 — similarity 0.642, rank 2. TAIM detail and related incidents →
GOVERN 6.1 — similarity 0.641, rank 3. TAIM detail and related incidents →

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.