A decentralized organization called CityDAO was hoping to turn 40 acres in Wyoming into a "cryptocurrency city", but their plans have now been targeted by hackers who successfully got away with members' funds.
The software used by their communities is still vulnerable to hackers, despite the fact that the technology is relatively secure.
The group poste posted an emergency notice on Monday. The CityDAO admin account has been hacked. There isn't a land drop. Don't connect your wall.
In November, the CityDAO claimed to have become the first DAO to own land.
The group said that the parcel was a proof of concept and not in the most convenient location. It has a well for water, a flat area for building, and is 45 minutes from an airport.
Each parcel of land is an NFT that can be owned by the DAO collectively or by individuals, according to CityDAO. The goal of the city is to build the future of real estate ownership on chain with Solidity and Web3.
In the past year or so, the popularity of a DAO has skyrocketed, promising community members equally divided representation as a way to be a part of a larger project.
A hedge fund billionaire outbid ConstitutionDAO for an original copy of the United States Constitution with 40 million dollars in digital currency.
The cracks are starting to show. A hacker gained access to an admin account of the Discord server and created a fake land drop from it. The infiltrator got away with $95,000 worth of ether.
One CityDAO victim said on Tuesday that the attack was a ridiculous security breach from Discord that allowed the hacker to pass two-factor authentication and password.
They asked everyone to be careful when clicking on links in server, connecting their wallet to applications and just activities online in general. Please bare with us so that we can resolve the issue in the best way possible.
The incident will likely be the last. A few weeks ago, different scam artists pulled off a similar hack, getting away with $150,000 in coins.
Those interested in the space should watch their backs. With all the attention they have been getting, hackers are starting to circle like sharks.
The people building aBlockchain City in Wyoming were scammed by hackers.
There is more evidence of a financial bubble on the internet.
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