Marinade Finance said its DAO was targeted on Sept. 25 in an attack that used two malicious proposals in an attempt to seize governance control. Both proposals were rejected by the DAO committee, and the protocol said no funds were moved during the incident. According to the team, mSOL, Native Staking, and SAM services were not affected.
The attacker exploited a flaw in the DAO voting process that allowed a small amount of MNDE tokens to be counted as far more voting power than they actually represented. Using that inflated vote count, the attacker submitted a forged proposal labeled MIP-23 that sought to replace the voting process. A second proposal attempted to move assets from the DAO treasury.
Marinade Finance said the real voting power of MNDE holders was greater than the support counted for the two malicious proposals. The DAO committee vetoed both proposals within six hours, around four days before their scheduled execution time. The project added that the vulnerability has now been fixed.
Marinade Finance said its DAO was attacked on Sept. 25 through two malicious proposals that attempted to seize governance control. Both proposals were vetoed by the DAO committee. No funds were transferred, and mSOL, Native Staking, and SAM were not affected.
The project said the attacker exploited a flaw in the DAO voting process, allowing a small amount of MNDE tokens to be counted as voting power far above the actual amount. The attacker then submitted a forged proposal, labeled 「MIP-23」, in an attempt to replace the voting process. A separate proposal was also submitted to try to transfer assets from the DAO treasury.
Marinade Finance said the actual voting power held by MNDE holders exceeded the support behind both malicious proposals. The DAO committee completed the veto within six hours, about four days before the proposals were scheduled to execute. The team said the vulnerability has been fixed.
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