Theft. There's no such thing as 'borrowing without prior approval'. While the exchanges are now powering down, and this may indicate they intend to return the money to it's owners, a fit of remorse by burglars that causes them to return their booty doesn't change the fact they stole it.
The funds the exchanges powered up didn't belong to them. Voting on governance with those funds is an exclusive right of ownership of those funds. To do so, the exchanges had to steal them. The funds remain in their possession presently, and not in the possession of their rightful owners.
Banks do the same thing, and corrupt lawmakers call it lawful. When theft is the law, government is a crime. Natural law is actual, a result of physics and ecology. If society institutes codes that don't reflect natural laws, but instead completely oppose them, society becomes incapable of being maintained in the real world.
Theft is theft and a crime, no matter what scribbles on paper say. Laws that justify theft are crimes themselves. The exchanges stole the money, and committed crimes under just laws.
RE: De-Spinning the Spin - The real truth