 Decentralized Autonomous Organization (DAO) Fraud, Hacks, and ControversiesJason Scharfman ()
Chapter Chapter 3 in The Cryptocurrency and Digital Asset Fraud Casebook, Volume II, 2024, pp 65-106 from Springer Abstract: Abstract This chapter provides an overview of Decentralized Autonomous Organization (DAO) fraud, hacks, and controversies. We begin the chapter with an introduction to DAO. Next, we analyze the case study of The DAO hack via a reentrancy attack and its aftermath. The chapter next discusses a variety of common DAO hack types, including flash loan attacks, voting power manipulation, oracle attacks, phishing attacks, and governance attacks. We then proceed to discuss oracles in more detail, including their function, varieties, and oracle alternatives. Next, we discuss DAO voting and governance approaches, decentralization metrics, and vote fraud methods. The chapter concludes with a review of case studies in DAO fraud and controversies, including the BONq DAO hack, the PeopleDAO hack, the Tornado Cash malicious proposal attack, and the Azuki DAO Hack. Keywords: Decentralized Autonomous Organization (DAO); The DAO; Reentrancy attack; Oracle; Multisig; Governance mechanisms; Smart contracts (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-60836-0_3 Ordering information: This item can be ordered from DOI: 10.1007/978-3-031-60836-0_3 Access Statistics for this chapter More chapters in Springer Books from Springer |
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