BarnBridge Governance Attack Reportedly Causes Approximately $776,000 in Losses

Odaily Planet Daily News According to BlockSec monitoring, the BarnBridge SMART Yield cUSDC protocol was attacked on Ethereum, causing losses of approximately $776,000, suspected to be a governance attack. The attacker first gained DAO governance rights, then upgraded the SmartYield/controller proxy to a malicious implementation contract. This contract invoked the privileged `_takeUnderlying` function of CompoundProvider, exploiting pre-existing USDC allowances from 50 user accounts to transfer pooled funds to the attacker via `transferFees`.