The Aragon Association, a Swiss-based company focused on creating a decentralized autonomous organization (DAO) on the Ethereum blockchain, has decided not to grant voting rights to holders of its native Aragon (ANT) tokens.
This decision comes as a result of a recent 51% attack on the Aragon DAO by a group known as the "Risk-Free Value Raiders" (RFV), whom Aragon alleges are activists from the asset management firm Arca Capital Management.
Aragon stated that it has a fiduciary duty to protect its funds and mission, citing Swiss regulations that mandate the use of funds to advance the decentralized governance infrastructure. The Association's recent decision has significantly impacted the startup's transition toward becoming a fully decentralized DAO.
Despite this setback, Aragon has repurposed its DAO and transferred an
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First found on: Aragon repurposes DAO after 51% attack, pulls voting rights for ANT holders
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