According to on-chain researcher Spreek, the DeFi protocol Hifi Finance has suffered a DAO governance takeover. The attacker gained control through four last-minute votes funded by Tornado Cash, then minted 25 million governance tokens and drained user collateral assets worth approximately $1 million, mostly in RWA tokens.
Hifi Finance DAO governance compromised, $1 million in user collateral stolen
TechFlowShare
Summary
A DeFi exploit recently targeted Hifi Finance, a DeFi protocol, after an attacker compromised its DAO governance. The attacker cast last-minute votes using funds from Tornado Cash and minted 25 million governance tokens. User collateral valued at approximately $1 million, primarily in RWA tokens, was transferred. The incident underscores the urgent need for a protocol update to strengthen governance security.
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