Crypto▲ Bullish
Binance stops malicious DAO proposal targeting $1.2M treasury in under 48 hours
Binance's security team flagged a malicious DAO proposal targeting a $1.2M treasury, coordinated freezes across platforms, and gave the community time to vote it down. No funds were lost.
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Binance's security team flagged a governance attack on an unnamed DAO, catching a malicious proposal that aimed to drain roughly $1.2 million from its treasury. The community voted the proposal down, and no funds were lost. The incident, detected August 18, 2026, came barely a month after BonkDAO lost about $20 million in a similar governance hack in July.
Binance's internal monitoring systems picked up the suspicious proposal and alerted the affected project's team. The exchange then coordinated with other centralized platforms to freeze deposits tied to the DAO's tokens. That cross-platform coordination bought the DAO's community enough time to mobilize. Token holders rallied to vote against the proposal, killing it before any funds could move.