  A fundamental goal of Web 3.0 is to establish a decentralized network and
application ecosystem, thereby enabling users to retain control over their data
while promoting value exchange. However, the recent Tron-Steem takeover
incident poses a significant threat to this vision. In this paper, we present a
thorough empirical analysis of the Tron-Steem takeover incident. By conducting
a fine-grained reconstruction of the stake and election snapshots within the
Steem blockchain, one of the most prominent social-oriented blockchains, we
quantify the marked shifts in decentralization pre and post the takeover
incident, highlighting the severe threat that blockchain network takeovers pose
to the decentralization principle of Web 3.0. Moreover, by employing heuristic
methods to identify anomalous voters and conducting clustering analyses on
voter behaviors, we unveil the underlying mechanics of takeover strategies
employed in the Tron-Steem incident and suggest potential mitigation
strategies, which contribute to the enhanced resistance of Web 3.0 networks
against similar threats in the future. We believe the insights gleaned from
this research help illuminate the challenges imposed by blockchain network
takeovers in the Web 3.0 era, suggest ways to foster the development of
decentralized technologies and governance, as well as to enhance the protection
of Web 3.0 user rights.
