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Crypto Fundraising DAO Loses Over $7M in Latest Crypto Exploit

DAO Maker, a fundraising platform for upcoming crypto projects that has no relation to the more widely known MakerDAO, was exploited Thursday, resulting in a loss of more than $7 million, according to China-based blockchain security analysis firm PeckShield.

In a Twitter thread, the DAO Maker team said 5,521 users were affected, with the average user losing $1,250.

“Blockchain forensics company CipherBlade is already investigating, and exchanges blocked the hackers’ wallet,” DAO Maker tweeted.

A compensation plan is in the works, the project said.

UPDATE (Aug. 12, 14:04 UTC): Adds comments from DAO Maker’s Twitter feed.

Source: CoinDesk

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