Investors who fell victim to the DAO Maker hack in 2021 are still awaiting reimbursement for their losses, despite promises made by the project's development team.

DAO Maker, a crypto fundraising platform distinct from MakerDAO, recently announced plans to raise funds for new Web3 projects in 2024. However, many individuals affected by the August 2021 hack claim they were never fully compensated for their losses, despite assurances from DAO Maker's team.

Victims of the hack argue that DAO Maker bears responsibility for their losses, alleging that the breach resulted from negligence on the part of the project's developers. Approximately $7 million in users' funds were stolen during the hack, attributed to a compromise of a private key.

Following the breach, DAO Maker pledged to partially compensate affected investors, initially providing an immediate airdrop of 500 USD Coin per person. The remaining losses were to be covered through an IOU token called "USDR," redeemable for DAO tokens at a later date.

However, investors claim that USDR redemptions were never facilitated, and they have yet to receive compensation for their remaining losses. Furthermore, allegations suggest that DAO Maker manipulated its governance process to cancel the reimbursement plan, using its substantial token supply to ensure a favorable outcome.

Despite assurances from DAO Maker's team, victims report that the promised redemption process never materialized. Attempts to exchange USDR tokens for other cryptocurrencies were thwarted, leaving holders with assets of diminishing value.

DeFi researcher SOMA Analytics has provided evidence suggesting a cover-up by DAO Maker, alleging that the team orchestrated a proposal to abandon the redemption process for USDR. The proposal, allegedly supported by newly created wallets controlled by a select few, ultimately passed but was later deleted from public view.

While DAO Maker continues to offer fundraising services for Web3 startups, the unresolved issue of reimbursement has left many investors disillusioned. The project's DAO token remains in circulation, despite ongoing challenges and allegations surrounding its handling of the hack incident.