BlockSec said Ethereum-based DeFi protocol BarnBridge may have been hit by a governance attack involving its SMART Yield (cUSDC) product. According to BlockSec’s monitoring, the attacker allegedly seized DAO control, upgraded the protocol with a malicious contract, and abused existing user approvals. Estimated losses were about $776,000. The disclosure was made through the source link provided in the input. No additional details on recovery, response measures, or affected user count were included in the source material.
BlockSec said BarnBridge’s SMART Yield (cUSDC), an Ethereum DeFi protocol product, may have been hit by a governance attack.
According to BlockSec, the attacker took control of DAO permissions, upgraded a malicious contract, and used user approvals to steal funds. Estimated losses were about $776,000.
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