Web3 is Going Just Great

This is the second hack in October of the swap functionality of a crypto wallet, with Transit Swap suffering a $21 million hack on October 1 — although in that case, the attacker subsequently returned a large portion of the stolen funds.

This 51% threshold doesn't pose an immediate threat to Tornado Cash users, because even validators that censor transactions will still attest to the validity of blocks created by non-censoring validators. However, if 51% or more of validators were to also stop attesting to non-censored blocks, they would no longer be able to be added to the chain.

Now that year mark is approaching, and a report from Rekt alleges that DAO Maker is trying to wiggle out of their promises through a governance vote, which they've framed as trying to "prevent major $DAO DUMP from USDR distributions". Meanwhile, they've deleted the post that explained the original distribution plan.

Most members of the DAO today were not affected by the attack, and so stand to benefit from not honoring the payout. One voting option suggests that these users "had their chance" to cash out their USDR, apparently ignoring that people were holding out for the promised 110% redemption.

Some whistleblowers have also claimed that team members have recently moved large quantities of DAO tokens to various wallets to vote. Some have also claimed that those team members recommended buying USDR tokens several months ago for below $1.10, as a safe arbitrage opportunity when they became redeemable for that amount.

The man in the photo subsequently tweeted his version of events, in which he described encouraging the woman and her friends to jump up while taking a 3D photograph, and then gave them a thumbs-down gesture when they reacted in annoyance to him. He then claimed that they harassed him throughout the conference, by stalking him throughout the conference and posting his photo online with vague allegations of harassment.

The woman later elaborated on the event that had precipitated her report to Devcon staff, saying the man had been "verbally boo'ing and taunting us" at the photo booth.

It's a little unclear what actually happened at the event and who is at fault, something I don't intend to speculate on as a complete outsider. However, what's not unclear is the reaction from some people in the crypto community, who have used the incident (and their belief that the woman fabricated the harassment story) as evidence that all women, people of color, and "wokeness" are a blight on the crypto space. Various crypto enthusiasts have used the opportunity to denigrate what they view as a general issue of "feminazis", "purple hairs", or "SJWs" in crypto, and DAOs that aim to encourage gender minorities to engage with crypto. "Letting SJWs infiltrate into crypto was a huge mistake", wrote one person. "This is the woke crowd we didn't have to deal with last cycle. They came into crypto with their distorted vision of everything. [Crypto Twitter] got your back, mate."

Mango Markets posted on Twitter to urge users not to deposit into the project, and asked the hacker to contact them "to discuss a bug bounty". The hacker had their own plans, instead submitting a governance proposal in which they would return $46 million of the stolen funds (keeping $70 million) in exchange for a promise that the protocol would not try to freeze the assets or pursue criminal charges. The hacker then used their 32 million governance tokens to vote in support, but ultimately were not able to get the proposal to pass. A different proposal with largely the same terms, but which left the attacker with only $47 million of the stolen funds, passed shortly after.