The Aragon Association repurposed the recently deployed Aragon DAO after suffering a 51% attack from activist investors who refer to themselves as the “vultures of crypto.”
Aragon, an open-source framework designed to launch decentralized autonomous organizations , has pulled plans for its native Aragon token holders to be given voting rights over the future direction of the organization.
The Aragon Association, a Switzerland-based organization that oversees the management of Aragon said in a May 9 tweet it exercised its “fiduciary duty” to secure its treasury and overall mission by “repurposing the Aragon DAO as part of a new grants program.”at the hands of a group called the “Risk Free Value Raiders” who were seeking to manipulate the use of ANT as a means to achieve financial gain.
Today, the Aragon Association acted on its fiduciary duty to secure its treasury by repurposing the Aragon DAO into a grants program. This is a response to a coordinated attack by the group known as "Risk Free Value Raiders" who took down Rook DAO.
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