Arbitrum DAO Targeted by Vote Buying Scandal – $6.5 Million Manipulated in a Single Move

The Arbitrum DAO is facing accusations of voting manipulation after a user allegedly bought 19.5 million ARB votes for just 5 ETH, resulting in an estimated $6.5 million investment. Crypto analyst Ignas raised alarm bells about the potential threat to decentralized governance on X (formerly Twitter). The incident highlights a concerning vulnerability within Decentralized Autonomous Organizations (DAOs), where manipulation of voting power by individuals can have significant impact on decision-making processes.