Crypto▲ Bullish
Umbra Privacy attacker met stake threshold, futarchy rejected $1.5M drain
An attacker met the minimum stake threshold to propose draining Umbra's treasury, but MetaDAO's decision market rejected the malicious bid at 28% odds.
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Someone just tried to walk out of Umbra Privacy's treasury with roughly $1.5 million in USDC. The attacker met the minimum stake threshold on MetaDAO to submit a governance proposal that would have drained between $1.5 million and $1.57 million from Umbra's treasury. It was the first proposal on MetaDAO to ever meet that threshold.
MetaDAO does not use standard token-weighted voting. It runs on a futarchy model where participants bet on whether a proposal will be good or bad for the project through decision markets. If the market prices a proposal as harmful, it gets rejected. If it prices the proposal as beneficial, it passes.
The decision market priced the malicious proposal at roughly 28% likelihood of passing. The proposal was rejected.
Umbra Privacy operates as a privacy layer on Solana, offering zero-fee asset shielding. The project ran a community sale through MetaDAO in October 2025 that generated over $154 million in commitments for a capped raise of just $3 million.