Spreek says Hifi Finance may have lost about $1m in alleged DAO governance attack

The story so far: Hifi DAO governance attack

An analyst estimated Hifi Finance lost about $1m of user collateral in an alleged DAO governance attack, with Tornado Cash-funded accounts seizing control. Hifi Finance confirmed a governance takeover attack, put preliminary losses at about $20,000 and said the DAO will compensate affected users.

1. 29 Oct 202601:31 UTC

   Spreek says Hifi Finance may have lost about $1m in alleged DAO governance attack

   Crypto analyst Spreek estimated that Hifi Finance lost about $1m of user collateral in an alleged governance attack, with four accounts funded through Tornado Cash said to have joined the vote just before the deadline and seized control of the DAO. The attacker is believed to have minted 25 million more governance tokens and drained collateral; the loss figure and attack details are unconfirmed.

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2. 31 Oct 202602:09 UTC

   Hifi Finance says Hifi DAO hit by governance takeover attack

   Hifi Finance said Hifi DAO suffered a governance takeover attack, leaving HIFI holders unable to control the protocol, its governance contracts or token supply. It put the preliminary loss at about $20,000 and said the DAO will compensate affected users.

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