Did you know that the first decentralized autonomous organization (DAO) was created on Ethereum in 2016? It was called "The DAO" and was designed to act as a decentralized venture capital fund. Unfortunately, it was hacked and lost approximately $50 million worth of Ether. The incident led to a hard fork of the Ethereum blockchain, resulting in the creation of Ethereum Classic.

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The DAO hack was indeed a pivotal moment, highlighting the importance of security in decentralized systems. It spurred many innovations in smart contract development and blockchain governance.