May 24, 2022

Issues to Watch in Decentralized Autonomous Org Case

Law360
Andrew W. Balthazor | Ashley L. Shively

Litigation attorneys Andrew Balthazor and Ashley Shively co-authored an article for Law360 about a class action case involving a decentralized autonomous organization (DAO). On May 2, users of decentralized finance (DeFi) platform bZx filed a novel putative class action against the decentralized autonomous organization governing the DeFi platform and related entities, seeking to hold those entities legally responsible for cyber hackers' theft of about $55 million worth of virtual assets from the platform. This article addresses the questions of liability in the context of these relatively new decentralized autonomous organizations and points out possible legal issues to keep an eye on.

READ: Issues to Watch in Decentralized Autonomous Org Case

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