On October 23, 2022, a hacker gained access to Layer2DAO's multisig wallet on Optimism and drained 49,950,000 L2DAO tokens. Layer2DAO negotiated with the attacker and repurchased 31,239,677 tokens to stabilize the market. The token price dropped 36.48% following the incident.

The project Layer2DAO on Optimism was attacked by hackers. The hackers stole 49.95 million L2DAO tokens and sold some tokens by obtaining the multi-signature permission of Layer2DAO. Layer2DAO said it has repurchased more than 30 million tokens remaining in the hands of hackers through treasury funds. The L2DAO price fell by about 90% at one point.