The Decentralized Autonomous Organization (DAO) raised $150 Million crowdfunding a new investment fund to finance ventures that would advance the crypto-currency Ethereum.
Investors traded cash for Ethereum and got tradable DAO tokens in return, which gave them the right to vote on which investments the fund would make.
Last week DAO was hacked and someone stole $55 Million, dropping the value of Ethereum by 38%. Slock.It, the group that created DAO, claims that all funds will be retrieved from the attacker but the fund is dissolving.
Welcome to the Wild West of digital currency.