Kyle DH | pryvit.eth
@PryvitKyle
Expert at nothing but curious about everything.
Security and Privacy for @brave
Joined May 2022
692 Following 872 Followers
So is this called a hostile takeover or more akin to private equities' slash and burn model but with a dash of crypto?
Craziest thing I've seen in a while:
• Someone buys $4M worth of BONK
• Then posts a DAO proposal asking to transfer $20M in BONK to themselves
• Waits 7 days without anyone noticing
• Then votes "yes" with their own BONK holdings, and the proposal passes
• $20M is transferred to them
And now the Bonk team has suddenly realized they lost $20M.
This wasn't even a hack.
The proposal passed because no $BONK holders checked the governance forum.
Insane to see the current state of DAOs.
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