By the end of this lesson you’ll know how DAO governance has failed, with a dated case for each kind, and be able to tell which of them a DAO you’re looking at has guarded against.
Beanstalk: a vote bought for one transaction
17 April 2022 · Beanstalk
About $77 million
On 17 April 2022 an attacker borrowed a very large sum through a flash loan, used it to take a majority of Beanstalk’s voting power, passed a proposal filed the day before that sent the protocol’s funds to the attacker’s own address, and repaid the loan, all inside one transaction.
One transaction, start to finish.
Continue with The Crossover Pro
The rest of this story, plus two paid editions a week. $24.99 a month, or $249 a year. Already a member? Sign in above.
Subscribe to Pro