Binance says it stopped $1.2M DAO attack

• Binance said its security team stopped a governance attack that could have exposed about $1.2 million.
• The unnamed DAO rejected the proposal before it could execute, and Binance said no funds were lost.
• Binance said less than 48 hours remained when its team detected the proposal.

Binance said its security team stopped a malicious governance proposal that threatened about $1.2 million in tokens.

The exchange said its monitoring systems detected the proposal with less than 48 hours before execution.

Binance said its response was intended to protect users and reduce risks across the wider crypto ecosystem.

Binance then contacted the DAO and other exchanges, which closed deposits for the affected token as a precaution.

The DAO rejected the proposal before execution, and Binance said no funds were lost.

Binance did not identify the DAO, token or proposal, so the $1.2 million figure cannot be independently verified.

The incident follows a July attack that drained about $20 million from BonkDAO through a malicious governance proposal.