How Across Protocol Manipulated DAO Voting and Embezzled $23M—A Systemic Failure in Decentralized Governance
The Illusion of Decentralization
Across Protocol promised seamless cross-chain interoperability. But its governance? A theater. Team members used hidden wallets—maxodds.eth, HartLambur.eth—to stack over 44% of voting power. They submitted a proposal to move $15M in ACX tokens to Risk Labs, then voted for it themselves. No public debate. No audit trail.
The Mechanics of Capture
DAOs aren’t broken because they’re decentralized—they’re broken because token distribution is skewed. Just 5 wallets held more than half the votes here. That’s not democracy; that’s plutocracy with an Ethereum address. Compare this to Jupiter DAO’s Golden Boys incident or Beanstalk’s flash loan collapse: same script, new actors.
Why Transparency Isn’t Optional
The $23M wasn’t stolen—it was transferred through a vote that never should have happened. Chain explorers show the ballot was tallied by addresses never disclosed in proposals. No on-chain rationale. No timestamped deliberation.
We built ZK-proofs for privacy—not to hide votes, but to prove them authentically.
The Real Risk Isn’t Hackers—It’s Founders
Most fear external threats: bots, exploits, phishing attacks. But the real danger? Internal actors with vested interests and access to multisig keys. Kevin Chan didn’t rob us—he convinced us we were safe while he rigged the system.
Toward a Post-Centeralized Future
This isn’t about Across. It’s about every DAO that treats its treasury like a private bank account. The fix? Quadratic voting + time-locked multisigs + third-party audits published on IPFS. Or we stop pretending decentralization is possible when incentives remain concentrated in five hands.
QuantumLogic77
Hot comment (5)
พอรู้ว่าแค่ 5 กระเป๋า ก็ควบคุมทั้งระบบ DAO ได้? เหมือนกับวัดในกรุงเทพที่มี only child คนเดียวเป็นผู้ออกเสียง… ส่วนอีก 99% เป็นบอท! เงินหาย? เปล่า! มันแค่ถูกโหวดโดยพ่อคุณแม่ที่นั่งสมาธิอยู่หน้าจอแบบสบายๆ 🧘♂️
แล้วคุณล่ะ? เคยเรียนรู้อะไรจากการสูญเสียเงินไปแล้วไม่มีใครร้องไห้?
Демократія? Це ж просто п’ять гамбургерів з Ethereum на тронах! Хто голосував за $23M? Не хакери — а твої боси з мультисигом. Я бачив: коли твої гроші криптовалюти виростають у бездорожжевому океані — це не блокчейн, а приватний банк з каштанами. А що робити? Поставити мем із «я бачу майбутнє»… і подивитись — я не паникую, я розумiю.
А ти чого голосував? У коментарях чекай!
ये DAO वो है ना कि decentralization… ये तो plutocracy का मंदिर है! पाँच वॉलेट्स में सारा वोटिंग? मेरे पापा कहते हैं — ‘जब तकदीर किसी के हाथ में हो, तो democracy नहीं… rajneeti होती है!’ $23M का सफर? स्टील-स्ट्रीट्स। #ACXTokenChai #DeFiKaSawaal
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