A suspected governance attack on BarnBridge is believed to have resulted in losses of approximately $776,000
Svmuu News: According to BlockSec’s monitoring, the BarnBridge SMART Yield cUSDC protocol was attacked on Ethereum, resulting in a loss of approximately $776,000. The incident is suspected to be a governance attack.The attacker first gained DAO governance permissions, then upgraded the SmartYield/controller proxy to a malicious implementation contract. This contract called the _takeUnderlying privileged function of CompoundProvider, exploiting pre-existing USDC authorizations from 50 user accounts to transfer the pooled funds to the attacker via the transferFees function.
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Source:Odaily · Source Link
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