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> But if you were the board, or the majority shareholder, it would be fine. Which is what happened here. I am fairly sure a majority shareholder could not just
by ac29 4y ago
> But if you were the board, or the majority shareholder, it would be fine. Which is what happened here.
I am fairly sure a majority shareholder could not just vote to give themselves all of a companies assets.
- vmception 4y agoYou wouldn’t want to be an investor in one that did or looked like it was doing that But yes there are other deterrents like not optimizing share price or returns for the other shareholders, by laws, state laws, rules from the exchange you trade on and mayyybe a regulator
- cinquemb 4y agoWhen i heard beanstalk was exploited, i was thinking this was some like some instant leveraged buy out, like in tradi where a investment fund borrows a bunch of money (with the other companies assets as collateral), buys a company and sells there most profitable assets while the company lingers own death door for years (with some kind inflated asset valuation with the rest of their collateral leftover) before bankruptcy. Just much faster in crypto because they allowed for their governance to be vulnerable to flashloans.
- vmception 4y agoYes like that