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The DAO hack 10 years ago drained 3.6M ETH and split Ethereum into two chains.

Market News
18 Jun 2026, 01:56 WIB
Crypto Briefing
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Neutral
The DAO hack 10 years ago drained 3.6M ETH and split Ethereum into two chains.

On June 17, 2016, a reentrancy bug in The DAO's smart contract was exploited, stealing 3.6 million ETH—about one-third of its funds. This led to a hard fork in Ethereum, creating two blockchains: Ethereum and Ethereum Classic, reflecting a split in community philosophy over immutability versus intervention. Unclaimed stolen funds were later used to establish TheDAO Security Fund, now worth $220 million, to support Ethereum's security. The event remains a key lesson in smart contract risks and governance for investors and developers.

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