DAO - Reading Assignment

Ethereum Smart Contract Security Course
#101

  1. What is DAO?
    Decentralized Autonomous Organization - computer code through which a set of smart contracts interoperates and functions as governance mechanism.

  2. What function had the vulnerability?
    Split function

  3. Why was the hard fork initiated?
    The first proposed solution was a soft fork but due to some security flaws hard fork was performed.

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#102
  1. What is DAO?

Decentralized autonomous organizations - a bundle of smart contracts

  1. What function had the vulnerability?

split-function

  1. Why was the hard fork initiated?

In order to reverse the DAO hack and refund the withdrawn ether

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#103
  1. The DAO is a digital fund that invests a pooled amount of ETH and consists of multiple people.
  2. The split function had the vulnerability.
  3. The hard fork was initiated to retrieve the funds and fix the problem.
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#104
  1. The DAO is a Decentralised Autonomous Organisation named after its definition of an acronyme, the particular ‘decentralised autonomous organisation’ type.
  2. the Split() function had the infamous vulnerability to re-entrency attacks.
  3. The Hard Fork was initated due to a lack of other soft-fork proposals that came with additional security flaws and the existing time threshold until the crooked funds could definitively quit the DAO, still being in the child DAO.
    While a self-determined group of GrayHats tried to save the world for EthClassic’s sake. Is that correct ?

Thank you.

#105
  1. **What is DAO?
    It is a Decentralized autonomous organizations; a computer code through which a set of smart contracts are connected together and function as a governance mechanism.
  2. **What function had the vulnerability?
    The split() function
  3. **Why was the hard fork initiated?
    To overwrite the blockchain history and restore the stolen ethers.
1 Like
#106
  1. What is DAO?
  2. What function had the vulnerability?
  3. Why was the hard fork initiated?

1.Decentralized Autonomous Organization

2.The vulnerability was a re-entrency attack where the attack could change the control flow of the smart contract. To avoid suppressing the minority by the majority inside the smart contracts of the DAO a “protection function” (equivalent to appraisal right) was implemented where anybody could split the DAO in two (so called Child DAO). You have to submit a special form of proposal and then the minority could move their Ether into the new child DAO. The split function contained the ability for a re entrency attack because inside the function because the effect (set balance/fund to 0) was checked after and not before sending the funds.
3.In order to return the funds to the investors and patch the problem, the community needed to fork the blockchain.

1 Like
#107

  1. What is DAO?
    Distributed autonomous organisation, which is computer code through which a set of smart contracts are connected together and function as a governance mechanism.

  2. What function had the vulnerability?
    The split function.

  3. Why was the hard fork initiated?
    The hard fork was initiated because people believed the transactions needed to be reversed. But others believed that went against the whole point of immutability.

1 Like
#108

1.- DAO was a project in 2016 for a Decentralized Autonomous Organization that crowdfunded to invest in new projects.
2.- The DAO smart contract for creating child splits had a reentrancy vulnerability. And the logic in the contract transferred Ether before balance state was updated.
3.- The hardfork was started to revert the blockchain to an instance before the hack and keep safe the Ether from the users.

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#109
  1. DAO was the first decentralized autonomous organization which is based on different interacting smart contracts. These smart contracts represents a governance mechanism. In short, the DAO was a venture capital fund where investors governing the DAO. All funds raised from the investors were pooled and you got an amount of token in proportion of your investment. Token holders could submit proposals for funding a project by using the DAO funds.
  2. The vulnerability was a re-entrency attack where the attack could change the control flow of the smart contract. To avoid suppressing the minority by the majority inside the smart contracts of the DAO a “protection function” (equivalent to appraisal right) was implemented where anybody could split the DAO in two (so called Child DAO). You have to submit a special form of proposal and then the minority could move their Ether into the new child DAO. The split function contained the ability for a re entrency attack because inside the function because the effect (set balance/fund to 0) was checked after and not before sending the funds.
  3. The hard fork was initiated because the majority agreed to it and they want to role the transaction back and refund the victims.
    The branch created with the hard-fork continued as the Ethereum whereas the old branch kept going as the Ethereum Classic.
1 Like
#110
  • What is DAO?
    A DAO is another computer code through which a set of smart contracts are connected together and function as a governance mechanism.
  • What function had the vulnerability?
    the split function
  • Why was the hard fork initiated?
    the proposed soft fork got cancelled, because it had security flaws, hence a hard fork was discussed as the hack was too big to let go.
1 Like
#111
  1. DAO is collection of smart contracts that make up a Decentralized Autonomous Organization that serves as governance.
    2.The split function was structured in a way that calls can be made to get funds before effects are done.
  2. The hard fork was brought up because people acknowledged that the malicious attacker Child DAO was doing a “code-allowed” malicious attack. So the debate between immutability on the Ethereum Blockchain caused a split between recovering stolen Ether and maintaining fundamentals.
2 Likes
#112
  1. What is DAO? The DAO is the first big ethereum application which introduces concept of a DAO(Decentralized Autonomous Organisation)
  2. What function had the vulnerability?
    It was function called “split”
  3. Why was the hard fork initiated?
    It was decision of the major part of the community, they decided to do it in order to return ether back to investors. After that action ethereum spllited into two chains Ethereum and Ethereum Classic
2 Likes
#113

  1. DAO is the decentralized autonomous organization, which is a group of smart contracts connected and used for a governance mechanism.

  2. The split function had the vulnerability, where minority voters could transfer their Ether into a child DAO. The vulnerability came from this transfer, where their balance wasn’t updated until the transfer was complete, and the transfer could be called many times to drain the DAO of Ether.

  3. The hard fork was initiated to reimburse the investors who had lost their money in the hack.

2 Likes
#114

  1. What is DAO?
    An Ethereum blockchain project that created a Decentralised Autonomous Organisation, to act as a virtual venture capital fund governed by the investors. It is known as ‘The DAO’ and was launched on 30th April 2016, in May (the initial offering) raised 12.6 million ETH from investors (i.e. over $150m at the time). The DAO was hacked on 16th June 2016, with 3.6million ETH of investors’ funds drained from the smart contract.

  2. What function had the vulnerability?
    The split function was vulnerable to being recursively called to drain funds from the DAO. In other words, a re-entrancy attack that caused a recursive function call (to the split function) to transfer the attacker’s ETH DAO balance (into a child DAO contract) BEFORE their DAO balance was updated (zero’d). The recursive call thereby kept transferring out the attacker’s deposited funds on each pass, without updating the attacker’s balance (which would have prevented further withdrawals). This recursive withdrawal is how the ETH was drained from the DAO.

  3. Why was the hard fork initiated?
    To retrieve the ETH taken from the DAO by the hacker, restoring the funds to their initial owners (i.e. the DOA investors). There was a planned soft-fork (before the hard-fork was agreed upon) but upon discovering another unrelated security flaw in the soft-folk it was abandoned. After further discussion, the hard-fork was performed (completed 20th July 2016) with the funds being restored to the DAO investors.

2 Likes
#115
  1. What is DAO? — decentralized autonomous organizations
  2. What function had the vulnerability? — split functions
  3. Why was the hard fork initiated? — to recover the stolen ETH
1 Like
#116
  1. What is DAO?
    Distributed Autonomous Organizations are smart contracts that are connected and together function as a governance mechanism.
  2. What function had the vulnerability?
    Split
  3. Why was the hard fork initiated?
    It was decided that was the best way to give the stolen funds back
1 Like
#117
  1. What is DAO?

Distributed autonomous organization aka “DAO” is computer code through which a set of smart contracts are connected together and function as a governance mechanism.

  1. What function had the vulnerability?

SPLIT FUNCTION

“Once a split function is called, the code was written in a way to retrieve the Ether first and update the balance later. Additionally, it was not checking whether there was a recursive call, which is an expression used to indicate a function that calls himself.

The attacker(s) managed to recursively call the split function and retrieved their funds multiple times before getting to the step where the code would check the balance.”

  1. Why was the hard fork initiated?

Even though the majority agreed on a soft fork, it was later discarded due to additional security flaws it would pose.

After the cancellation of the soft work, the hard fork proposal was voted and accepted by majority of the Ethereum community. This would reverse all transactions happened after the starting point of the work.

The hard fork completion meant that the funds were returned to the investors (victims of the hack).

1 Like
#118

1: Decentralized Autonomous Organization.

2: The split function had the re-entrency problem.

3: In order to return the lost funds due to the hack. The soft fork was debated but cancelled due to security problems/flaws.

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#119

1 Decentralised Autonomous Organisation.

2 The split function had re-enterency bug.

3 To return victims of hack DAO’s the money.

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#120
  1. A crowd funding application that allows voting on proposals based on the amount of voting tokens
  2. the split function allowed a withdrawal, followed by recording the withdrawal. Because of reentrancy, this allowed the withdraw function to be called again before recoding the withdrawal.
  3. to restore the stolen funds
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