Governance Attack on Hifi Finance: How to Check Your DeFi Collateral

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.On 28 October, a single address took control of the Hifi Finance vote with four votes, minted 25 million tokens and drained collateral worth around 1 million dollars. It is the third governance attack within six days.At the DeFi protocol Hifi Finance, a previously unknown address gained control of the protocol's governance vote on 28 October 2026 and then drained user collateral worth around 1 million dollars, roughly 900,000 euros at the exchange rate of 29 October. The finding comes from the on-chain analyst Spreek, whose assessment underpins the day's reporting. Four votes, cast shortly before the end of an ongoing ballot, were enough. The same address then minted 25 million new governance tokens. For investors in Europe, the pattern matters more here than the individual case. A governance attack needs no flaw in the program code that an audit might catch. It uses the voting rules themselves, and at many protocols those rules sit in the open, with no waiting period. Anyone wh...