Moonwell Governance Attack Sparks Voting Frenzy
- DeFi
- Security
An attacker exploited Moonwell's MFAM governance token, worth fractions of a cent, by accumulating 40 million tokens to push a malicious proposal. With the voting deadline set for March 27, Moonwell holders scrambled to vote it down, turning CT into a battlefield of memes and panic. This incident highlighted the fragility of low-cap governance systems and had the community glued to the outcome.
Incident Details
- Type
- GOVERNANCE ATTACK
- Funds Lost
- $0
- Status
- Ongoing
Community mobilized to vote down the proposal before the deadline.