PeopleDAO hack so dumb it's almost funny.
14 Mar 2023, 11:10
PeopleDAO hack so dumb it’s almost funny
❕Unbelievably, PeopleDAO used a Google Sheet to handle automatic payrolls and linked to it in a public Discord server with edit access.
All the hacker had to do was insert their own address with a payment due of 76.5ETH — and then make that info invisible.
PeopleDAO, formerly ConstitutionDAO, was formed in Nov 2021 to purchase a rare original copy of the U.S. Constitution only to be outbid by a billionaire after disclosing their max bid publicly.
ConstitutionDAO failed in another way: they had no clear mechanism to unwind the individual contributions, causing massive gas losses in the process.
📌They should’ve used better tools. In DeXe’s DAO builder, payroll is done via proposals and voting — like all DAO governance is meant to be done. And integration with any other DeFi protocol is done automatically.
📖Read more » here
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1DeXeDEXE #110
14 Mar 2023, 11:12
PeopleDAO hack so dumb it’s almost funny
❕Unbelievably, PeopleDAO used a Google Sheet to handle automatic payrolls and linked to it in a public Discord server with edit access.
All the hacker had to do was insert their own address with a payment due of 76.5ETH — and then make that info invisible.
PeopleDAO, formerly ConstitutionDAO, was formed in Nov 2021 to purchase a rare original copy of the U.S. Constitution only to be outbid by a billionaire after disclosing their max bid publicly.
ConstitutionDAO failed in another way: they had no clear mechanism to unwind the individual contributions, causing massive gas losses in the process.
📌They should’ve used better tools. In DeXe’s DAO builder, payroll is done via proposals and voting — like all DAO governance is meant to be done. And integration with any other DeFi protocol is done automatically.
📖Read more » here
PeopleDAO hack so dumb it's almost funny.
PeopleDAO hack so dumb it’s almost funny
❕Unbelievably, PeopleDAO used a Google Sheet to handle automatic payrolls and linked to it in a public Discord server with edit access.
All the hacker had to do was insert their own address with a payment due of 76.5ETH — and then make that info invisible.
PeopleDAO, formerly ConstitutionDAO, was formed in Nov 2021 to purchase a rare original copy of the U.S. Constitution only to be outbid by a billionaire after disclosing their max bid publicly.
ConstitutionDAO failed in another way: they had no clear mechanism to unwind the individual contributions, causing massive gas losses in the process.
📌They should’ve used better tools. In DeXe’s DAO builder, payroll is done via proposals and voting — like all DAO governance is meant to be done. And integration with any other DeFi protocol is done automatically.
📖Read more » here