The biggest incident in the currency circle in 2016 was the theft of The DAO. It happened on June 17. Hackers exploited the contract vulnerability of The DAO and successively transferred more than 3.6 million ETH, which was worth more than 70 million US dollars at the time. The DAO, which just broke the history of crowdfunding in the cryptocurrency industry with a crowdfunding amount of US$150 million, set a record for the largest amount stolen overnight. Those who participated in this private placement instantly turned from cheering to lamenting.

Fortunately, the hacker was unable to withdraw the money immediately because the project team originally set a 27-day withdrawal period in order to increase the refund threshold. But what's the use? The blockchain is irreversible, and the facts that have happened cannot be changed. Once the 27-day withdrawal period is up, hackers will take away more than 3.6 million ETH in full view of the public. The most urgent priority is how to properly handle subsequent compensation matters.