The DAO Hack (5/7)

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Ethereum suffered an unfortunate blemish when the DAO (an Ethereum crowdfunded token that crowdfunded millions) was hacked and an unknown person exploited a vulnerability that allowed him/her to steal 1/3rd of the DAO’s funds.

Because of this, the Ethereum community made a decision to hard fork (and roll back) the blockchain to restore the funds. This was (and still is, to many) controversial as many in the crypto community believe a decentralized ledger should never be blemished with a reversal.

From this controversial decision, Ethereum Class (ETC) was formed that maintains the original, unaltered Ethereum network. Ethereum classic is still around to this day.


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