$11 000 000 USD

JUNE 2024

GLOBAL

MULTIPLE

DESCRIPTION OF EVENTS

"This delegate plays a key role in MakerDAO’s governance, contributing to vital decision-making processes that shape the protocol’s future."

 

"Delegates within MakerDAO are tasked with voting on various governance proposals, polls, and executive votes. Their influence is substantial, impacting major decisions within the Maker protocol.

 

These delegates, alongside MKR token holders, determine the outcomes of proposals that progress from initial discussions to final executive votes.

 

When a proposal gains approval, it is not immediately implemented. Instead, it enters a waiting period known as the Governance Security Module (GSM). This interval acts as a security buffer, preventing abrupt changes to the protocol and ensuring a period for reconsideration or potential veto."

 

"The heart of the phishing scam lies in the exploitation of an important figure within the MakerDAO system. The sender’s address, identified as “0xfb94d3404c1d3d9d6f08f79e58041d5ea95accfa,” dispatched 3,657 aEthMKR tokens to the recipient address “0x739772254924a57428272f429bd55f30eb36bb96.”

 

In an alarming 11 seconds, the transaction was confirmed, sealing the fate of the stolen assets."

 

"5 hours ago, a victim lost $11 million worth of aEthMKR and Pendle USDe tokens due to signing multiple Permit phishing signatures."

 

"Scam Sniffer detected the Scam in the early hours of June 23. The unsuspecting delegate fell prey to the phishing attack after signing multiple signatures, a series of actions that ultimately led to the unauthorized transfer of their crypto assets."

One of the large delegates of the MakerDAO protocol accidentally signed a malicious transaction on a wallet with a reported $11m worth of assets, transferring those to an attacker. This was likely due to an impersonation account on Twitter, which was mimicking the main account of a prominent protocol. There is no word on who the victim was, and much less on the attacker or any efforts to recover the funds.

Sources And Further Reading

 For questions or enquiries, email info@quadrigainitiative.com.

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