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Hifi Finance is estimated to have lost about $1 million in user collateral assets in a governance attack, according to crypto analyst Spreek, who shared the assessment on X.
The attacker was said to have used four accounts funded through Tornado Cash to join the vote just before the voting deadline and seize the decentralized autonomous organization’s decision-making power. The attacker is then believed to have minted an additional 25 million governance tokens and drained user collateral assets. The exact scale of the losses and the detailed attack process have not yet been confirmed.