CoinDesk (@CoinDesk): HISTORY: On this day in 2016, The DAO's 28-day token sale officially closed and DAO tokens became tradable on exchanges. The project had raised a stag…
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HISTORY: On this day in 2016, The DAO's 28-day token sale officially closed and DAO tokens became tradable on exchanges. The project had raised a staggering 12.7 million ETH, worth roughly $150 million at the time. Built on Ethereum, The DAO was meant to be a decentralized venture fund governed entirely by smart contracts and token holders. Less than three weeks later, on June 17, a hacker exploited a reentrancy vulnerability in The DAO's code and drained 3.6 million ETH