Technology

Build Finance DAO suffers ‘hostile governance takeover,’ loses $470,000

Build Finance DAO suffered a “hostile governance takeover” over the last few days and has lost around $470,000 in funds, according to an announcement today. Over the last few days, an unknown person managed to use a large supply of tokens to vote through a proposal that gave them full control over the DAO’s treasury and its ability to mint tokens. “As things stand, the attacker has full control of the governance contract, minting keys, and treasury. The DAO no longer has control over any part of the key infrastructure,” said Urbane Grandier, a member of Build Finance’s core team, in its Discord server.

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