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Yam Finance governance vote puts $337K at risk
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Yam Finance governance vote puts $337K at risk

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  • Yam Finance faces a governance takeover attempt through proposal 45.
  • The attacker delegated 504,000 YAM, or about 3.3% of supply, to clear quorum.
  • If approved, the proposal could transfer control of the Timelock and expose about $337,000.

Yam Finance is facing a governance takeover attempt after an attacker used 504,000 YAM (CRYPTO:YAM) to submit proposal 45.

The delegated tokens represent about 3.3% of YAM's total supply and sit slightly above the quorum threshold needed for the vote.

Proposal 45 contains an action targeting the YAM Timelock's setPendingAdmin function, which could give the attacker administrative control if approved and executed.

If control is transferred, the attacker could potentially gain access to Yam Finance's protocol contracts and DAO treasury, with about $337,000 reportedly at risk.

The vote was expected to end in about 34 hours from the reports, with Defimon Alerts urging YAM holders to reject proposal 45.

Yam Finance is largely inactive, which may have made its governance system vulnerable to an attacker controlling enough voting power to meet quorum.

The incident highlights how low governance participation can leave dormant DeFi protocols exposed when treasury funds remain under on-chain control.

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