The DAO of an Ethereum-based project that was hacked for $16 million is being handed over to the founding team again.
Ethereum-based Indexed Finance successfully thwarted both attempts to hijack the project’s DAO.
Using Indexed Finance’s NDX token, attackers attempted to capture $120,000 worth of cryptocurrencies still available on the DAO. Laurence Day, one of the project’s former main developers, and other community members, by collecting enough votes stopped the attack.
Indexed DAO took strict precautions, thinking that a second attack might follow and Destroying all cryptocurrencies in the treasury in the event of an attack approved the bill that paved the way for it.
When the protocol was attacked for the second time, the attacker lost the cryptocurrencies in the treasury. get 50% bargained for. Indexed founder Dillon Kellar attacked the attacker offered $10,000 and if he does not accept, the treasure by completely destroying threatened.
Although the attacker tried to increase the offer to $17,000, he accepted the offer of $10,000 a few hours before the deadline.
Control of the DAO was handed over to Day, Kellar, and another founder known as PR0. The three names gave the remaining money in the treasury to the users who suffered financial losses in the hacking attack in 2021. repair the damage plans to use it for.