DAOs have garnered significant attention and investment within the realm of cryptocurrency, with several managing billions in their respective treasuries.
However, not all participants in DAOs possess noble intentions. Certain contributors seek to manipulate the system, siphoning funds from treasuries without providing any corresponding value.
These actors are called money grabbers, they use various tactics and strategies to deceive and manipulate other members, administrators, and delegates of the DAO. They often create proposals that sound appealing but are vague, unrealistic, or overpriced. They also try to build a reputation and network within the DAO to gain trust and influence. They may even collude with other scammers or bribe delegates, SM managers or administrators to get their proposals approved.
After we published an article on the dark side of DAOs, an anonymous person contacted us, claiming to be part of a group of money grabbers. He agreed to answer some of our questions and explain how they operate.