BarnBridge Governance Attack Suspected to Cause Approximately $776,000 in Loss

Odaily News According to monitoring by BlockSec, the BarnBridge SMART Yield cUSDC protocol on Ethereum was attacked, resulting in losses of approximately $776,000, suspected to be a governance attack. The attacker first gained DAO governance privileges, then upgraded the SmartYield/controller proxy to a malicious implementation contract. This contract called the `_takeUnderlying` privileged function of CompoundProvider, exploiting pre-existing USDC approvals from 50 user accounts. Through `transferFees`, the attacker transferred the aggregated funds to their own address.