Aragon Decides to Repurpose Aragon DAO; A Move Against Coordinated Attack

• Aragon has responded to a coordinated 51% attack on its DAO.
• This attack has made Aragon repurpose the Aragon DAO.
• Aragon’s move was criticized by prominent entrepreneurs.

The Aragon Association made an announcement on Tuesday that it has decided to cancel its previous plans regarding the extensive voting authority granted to holders of its ANT token.

These voting powers encompassed various aspects, such as strategic direction and control over a $200 million treasury. This development significantly hampers the Ethereum startup’s transition towards becoming a decentralized autonomous organization, which was a central goal for the company.

The decision to retract the voting powers was prompted by a recent incident where the newly established Aragon DAO fell victim to a 51% attack. The attack was orchestrated by a group known as the “Risk Free Value (RFV) Raiders.” Their intention behind the attack was to manipulate the use of ANT tokens for personal financial gain.

The RFV Raiders and Arca are responsible for the takedown of Rook DAO, Invictus DAO, Fei Protocol, Rome DAO, and Temple DAO.

One of the members has also been jailed for his involvement in the M…

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