Aragon launches defensive measures against Arca’s ‘51% attack’
May 09. 2023
By Tom Mitchelhill
The Aragon Association has pulled plans to give ANT holders voting rights over its DAO in the wake of the attack.
Aragon, an open-source framework designed to launch decentralized autonomous organizations (DAOs), has pulled plans for its native Aragon (ANT) token holders to be given voting rights over the future direction of the organization.
The Aragon Association, a Switzerland-based organization that oversees the management of Aragon, said in a May 9 tweet thait exercised its “fiduciary duty” to secure its treasury and overall mission by “repurposing the Aragon DAO as part of a new grants program.”
The decision was made after the recently launched Aragon DAO suffered a 51% attack at the hands of a group called the “Risk Free Value (RFV) Raiders,” who were seeking to manipulate the use of ANT as a means to achieve financial gain.
According to a blog post from Aragon, the RFV Raiders are linked to the recent attack and liquidation of Rook DAO, which occurred in early April. Aragon alleges that the Raiders are activist investors from the asset management firm Arca Capital Management who refer to themselves as the “vultures of crypto.”
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