Cryptocurrencies

    Victims of DAO Maker hack await compensation

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    Victims of the 2021 hack involving DAO Maker, a crypto fundraising platform, report significant financial losses and lack of promised compensation.

    The security breach led to the theft of approximately $7 million, with DAO Maker developers pledging full reimbursement to affected users.

    However, victims remain uncompensated, attributing the hack to a security oversight involving a compromised private key.

    DAO Maker's focus has shifted to supporting new Web3 projects in 2024, leaving hack victims without resolution.

    Initial compensation efforts included distributing 500 USDC to each victim and issuing IOU tokens named "USDR," but questions arise about the effectiveness of these measures and the platform's accountability.

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