Moonwell faces a low-cost governance attack, with the attacker attempting to push malicious governance proposals that threaten user funds.

金色财经_ · 2026-03-26T20:17:07+00:00

Decentralized lending protocol Moonwell faces a low-cost governance attack, as an attacker purchased 40 million MFAM tokens for approximately $1,800 in an attempt to push malicious proposals, risking up to $1.08 million. The proposal voting will continue until March 27, and currently, most voters oppose the measure.

金色财经_

2026-03-26 20:17:07

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Golden Finance reports that the decentralized lending protocol Moonwell is experiencing a low-cost governance attack. An unidentified attacker spent approximately $1,800 to purchase about 40 million MFAM tokens, attempting to push a malicious governance proposal that would transfer control of the protocol’s core contracts to their own contract. If the proposal is executed, approximately $1.08 million in user funds could be at risk. The entire operation—from purchasing tokens to submitting and passing the proposal—took only about 11 minutes. The proposal involves seven lending markets, the controller, and the oracle. Once enacted, the attack contract could directly withdraw protocol funds. Voting is still ongoing until March 27. Although the initial proposal quickly reached the quorum, subsequent participation shows most voters oppose the measure. The final outcome will depend on the final vote tally and any unclaimed voting rights.

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