DAO Archives - WEB3NOW

Axie Infinity hacked!

ITS 👏 NOT 👏 A 👏DECENTRALIZED 👏 EXCHANGE 👏 IF 👏 SOMEONE 👏 CAN 👏 STEAL 👏 EVERYONES 👏 MONEY 👏 BY 👏 COMPROMISING 👏 A 👏 SINGLE 👏 CONTRACT 👏

$500+ million dollars goes poof. In the next week some exchange will raise the money to bail them out. pic.twitter.com/kdvaRUU30h
— Bitfinex’ed 🔥 Κασσάνδρα 🏺🇺🇦 (@Bitfinexed) March 29, 2022

Popular blockchain game Axie Infinity suffers a $625 million exploit, possibly the largest in defi history

March 29, 2022https://t.co/3nOhJ9o4wi pic.twitter.com/pLqSPc3BUV
— web3 is going just great (@web3isgreat) March 29, 2022

DAOs vs reality…

“Many DAOs are wrestling with challenges, including massive financial losses from software flaws and hacks, internal divisions that threaten some entities’ continued existence and allegations of improper diversion of community funds.” https://t.co/PVnkFRkzVU
— Frank Pasquale (@FrankPasquale) March 12, 2022

“Members of DAOs are clashing with one another about how to balance the need for skilled and experienced managers against the idealistic vision of communal decision-making. In some cases, crypto investors and regulators say, the ventures amount to Ponzi schemes intended to do little more than bolster the value of the digital tokens they sell.”

Abracadabra’s rug-pull

ABRACADABRA trying to rug-pull their holders.

Here's how it works. Give these scammers DAO tokens in exchange for SPELL Tokens.

They then run off with the DAO tokens and disappear leaving you worthless SPELL tokens.

Funds managed by Daniele Sesta. 🤣https://t.co/AjLnAFS15d pic.twitter.com/tWscUZYRRJ
— Bitfinex’ed 🔥 (@Bitfinexed) January 30, 2022

2 hour documentary on the crypto fraud

The 2 hour documentary on the crypto fraud to watch! it’s really a #mustwatch

Web3 native series?

So, the SpiceDAO are doubling down!
This doesn't answer the fact that they own no rights, so it's not clear how they will manage to create a "Web3 native series".
Given their track record of paying 100x for a book without doing any research, I remain unconvinced. pic.twitter.com/uJ061gmBwk
— Andres Guadamuz (@technollama) January 17, 2022

This confirms that people don’t understand copyright…