DAO on Solana loses $230K after ‘attack proposal’ goes unnoticed

The legwork behind DeFi hacks can be quite sophisticated. But an attacker targeting Synthetify last week only had to vote on — and pass — their own proposal to steal some $230,000 worth of crypto.

Synthetify was exploited by an attacker who made and voted for public proposals in the protocol’s decentralized autonomous organization. By the time other DAO members noticed something was amiss, the funds had already been sent to Tornado Cash. 

The situation represents a fresh example of a governance failure resulting in lost funds.

Synthetify is a Solana-native DEX that fell into debt following FTX’s meltdown late last year. In April, the project announced that it has plans to…

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