DAOUSDT
DAO Maker / Tether USD
cryptoComposite

Yeah, it’s based on the security exchange act, the exchange act, and the DAO report, and the supreme courts application of the Howey test… [You should read it](https://www.cftc.gov/sites/default/files/2026/03/2026-05635a.pdf) there is one really interesting bit right at the end though..Michael Selig is both the only appointed commissioner currently at the CFTC, AND the acting chairman… ”on this matter, Chairman Selig voted in the affirmative. No commissioner voted in negative.” this document isn’t worth pissing on…

**Fun fact with bad timing:** in April 2022, Binance led the $150M round that went toward paying back Ronin's users after the hack. On Oct 31, the FBI said North Korea was behind the more than $6B that just left Binance itself. Ronin is still the cleanest example of how this keeps working. Most people remember it as "one guy opened a fake job offer." The company's own postmortem tells a longer story. **The setup** * Ronin was Axie Infinity's own chain. Money crossed over a bridge run by **9 validators, and any 5 signatures could approve a withdrawal.** * Sky Mavis, the studio behind Axie, ran **4 of the 9.** * Why only 5? Their own Q&A: some nodes "didn't catch up with the chain, or were stuck in syncing state." **The favor nobody switched off** * Nov 2021: the network was getting hammered, so Sky Mavis asked the Axie DAO for help handing out free transactions. The DAO allowlisted Sky Mavis to sign on its behalf. * Dec 2021: the arrangement ended. Their words: "the allowlist access was not revoked." * So signature #5 was still reachable from inside Sky Mavis. **The drain** * The Block later reported (two anonymous sources) that a senior engineer got a fake job offer after several rounds of interviews, sent as a PDF. Sky Mavis declined to comment on how it happened. Its postmortem only says "one employee was compromised." * Mar 23, 2022: two withdrawals, **13:29:09 and 13:31:04 UTC. 115 seconds apart.** 173,600 ETH and 25.5M USDC, about $625M. * Nobody noticed for **six days.** Their words: "We didn't have a proper tracking system for monitoring large outflows from the bridge." The alarm was a user who couldn't withdraw 5,000 ETH. **The part I keep thinking about:** users were paid back in coins. ETH had dropped so much by the time the bridge reopened in June that the refund was worth about $216.5M. And the Axie DAO, the group that did the favor, didn't get its own 56,000 ETH covered in that refund. Question for people who know bridges better than me: **is a 5-of-9 multisig with 4 keys at one company decentralized in any real sense?** And how many bridges today look the same if you squint? I made a 14 minute doc on the whole chain (the FBI naming Lazarus, the money going through mixers, the roughly 10% that got seized back) for a small channel I started a few weeks ago. Sources are on screen the whole way. If you want the full story with the visuals: [https://www.youtube.com/watch?v=63\_InzH4fO4](https://www.youtube.com/watch?v=63_InzH4fO4) Honest feedback welcome, I'm still learning this.

thank you! and please keep me posted if you ever have more "you have one job" type DAO ideas we added bounty drafts so you don't even have to fund them yourself, you can just throw the idea out there for other people to run with

They could call ETH, and reverse it, like they did with the DAO. Hahahah