It passed its audits, so how did the project still get hacked?
In 2016, The DAO was attacked through a reentrancy vulnerability. Ethereum responded with a hard fork, while the original chain, which did not fork, continued as Ethereum Classic (ETC).
Key takeaway: When reading an audit report, pay attention to the audit date, its scope, and any issues that remain unresolved. Don’t just look for the “audited” label.
The Ethereum associated with $ETH was one of the earliest public blockchains to support general-purpose smart contracts.
Understanding the principles can help you avoid some pitfalls, but it can’t replace risk management.
#ETH
In 2016, The DAO was attacked through a reentrancy vulnerability. Ethereum responded with a hard fork, while the original chain, which did not fork, continued as Ethereum Classic (ETC).
Key takeaway: When reading an audit report, pay attention to the audit date, its scope, and any issues that remain unresolved. Don’t just look for the “audited” label.
The Ethereum associated with $ETH was one of the earliest public blockchains to support general-purpose smart contracts.
Understanding the principles can help you avoid some pitfalls, but it can’t replace risk management.
#ETH