ChainCatcher report: According to on-chain researcher Spreek, the DeFi lending protocol Hifi Finance appears to have been subjected to a DAO governance attack. An address funded by Tornado Cash cast four votes shortly before the governance vote concluded, gaining control of the protocol’s governance. The address then minted 25 million HIFI tokens and withdrew all user-collateralized assets from the protocol, valued at approximately $1 million, most of which were RWA tokens.
Hifi Finance Suspected of Governance Attack, Mints 25 Million HIFI Tokens
ChaincatcherShare
Summary
Hifi Finance is facing a suspected governance attack after a Tornado Cash-funded address cast four votes to seize control. The address minted 25 million HIFI tokens and drained $1 million in real-world asset (RWA) holdings, primarily RWA tokens. A protocol update is anticipated as the community responds to the incident. User collateral was fully withdrawn, raising concerns about governance security.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.