Binance says it stopped $1.2M DAO governance attack

Binance said on Aug. 18 that its security team helped stop a malicious governance proposal that could have exposed approximately $1.2 million in tokens from an unnamed decentralized autonomous organization’s treasury. Summary Binance says its security team detected a malicious governance proposal threatening approximately $1.2 million in tokens. Less than 48 hours remained before the proposal could execute against the unnamed project’s treasury. Binance contacted the project and coordinated precautionary deposit closures with other centralized cryptocurrency exchanges immediately. The project rejected the proposal before execution, and Binance reported that no funds were lost. Binance did not identify the project, publish the proposal identifier or provide on-chain transaction records. The cryptocurrency exchange said its monitoring systems independently identified the proposal with less than 48 hours remaining before execution. Binance then contacted the project and coordinated with other centralized exchanges to close deposits for the affected token. The project voted against the proposal before it could execute, according to Binance’s published account. The company said no funds...