Binance says it blocked potential governance attack, protecting $1.2M

Binance said it protected $1.2 million in DAO funds after detecting a potential governance attack targeting a specific project. The attempted attack sought to exploit a vulnerability in the project’s on-chain governance mechanism to bypass existing protocol requirements, Binance said. When the threat was identified, less than 48 hours remained before the hack could have succeeded. Binance’s security team immediately contacted the project and worked with other centralized exchanges listing the token to temporarily suspend token deposits, minimizing the risk of fund outflows.