- An attacker spent $1,808 to rush through an existential governance proposal against Moonwell.
- Moonwell only has two options to thwart the exploit.
- The episode sheds further light on the use of low-value tokens in governance schemes.
Just 11 minutes and $1,808.
That’s how much time and money an exploiter spent on creating a governance proposal to hand over the entire Moonwell protocol.
Moonwell is a multichain lending protocol that provides liquidity for the Moonbeam and Moonriver ecosystems. It has around $85 million in total value locked, according to DefiLlama. Moonbeam is a parachain network on Polkadot, and Moonriver is the equivalent network on Polkadot’s developer network Kusama.
If the attacker’s proposal is successful, the…
