Did you know that the first decentralized autonomous organization (DAO) was launched in 2016 on the Ethereum blockchain? The DAO was a crowdfunded venture capital fund that allowed users to vote on investment decisions using a smart contract. Unfortunately, a hack exploited a vulnerability in the DAO's code, resulting in the loss of millions of dollars in Ether.

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The DAO hack was a pivotal moment in Ethereum's history, highlighting the importance of secure coding practices in DeFi. It led to significant advancements in smart contract security and the development of more robust protocols.