YAM Finance governance attack puts $337K in assets at risk

YAM Finance has faced a governance takeover attempt after an attacker accumulated enough delegated YAM voting power to submit a proposal that could hand over control of the protocol’s Timelock and put roughly $337,000 at risk. Summary An attacker self delegated approximately 504,000 YAM, representing 3.3% of the supply and enough voting power to clear the governance quorum. Proposal #45 seeks to make the attacker pending administrator of the YAM Timelock, potentially giving the address control over protocol contracts and the DAO treasury. Defimon estimated roughly $337,000 is at risk and urged YAM holders to vote against the proposal before block 25,897,343. Defimon, the on-chain monitoring service operated by security firm Decurity, said it detected the attempt after an address self-delegated approximately 504,000 YAM tokens, representing around 3.3% of the token’s supply and enough voting power to move just above the governance quorum. Community alert: Defimon detected a governance takeover attempt of @YamFinanceAttacker self-delegated ~504K $YAM (~3.3% of supply, just over the quorum) and submitted YamGovernorAlpha proposal #45 with an empty description ("0x"). The single action...