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An attacker has been seen trying to seize control of Yam Finance through a governance vote, potentially putting about $337,000 at risk, according to Defimon Alerts.
Defimon Alerts said the attacker delegated 504,000 YAM to an address under the attacker’s control, slightly above the quorum threshold, using about 3.3% of total YAM supply, and then submitted governance proposal 45. If the proposal passes and is executed, the attacker would gain admin control of the YAM timelock contract, enabling control over the protocol’s contracts and DAO treasury, with roughly $337,000 potentially vulnerable to theft, the security firm said.
The protocol is effectively no longer operating, Defimon Alerts added, with about 34 hours remaining until the vote ends, and urged YAM holders to vote against the proposal.