User spends $10k to control $6.5M in votes on Arbitrum DAO, sparks governance concerns

A recent vote-buying incident within Arbitrum DAO has raised concerns about the viability of decentralized governance as investors exploit on-chain mechanisms to acquire influence through borrowed voting power. According to an April 8 report by crypto analyst Ignas, a user identified as hitmonlee. eth spent 5 Ethereum (ETH), approximately $10,000, to obtain 19. 3 million ARB tokens’ […] The post User spends $10k to control $6 source: https://cryptoslate.com/user-spends-10k-to-control-6-5m-in-votes-on-arbitrum-dao-sparks-governance-concerns/