PANews|Jul 15, 2026 05:25
[BlockSec: BarnBridge Governance Attack Suspected to Have Caused Approximately $776,000 in Losses]
According to monitoring by BlockSec Phalcon, the BarnBridge SMART Yield (cUSDC) protocol on Ethereum has been attacked, resulting in an estimated loss of approximately $776,000, suspected to be a governance attack. The attacker first obtained DAO governance privileges, then upgraded the SmartYield/controller proxy to a malicious implementation contract. This contract subsequently invoked the _takeUnderlying privileged function of CompoundProvider, leveraging pre-existing USDC authorizations from 50 user accounts to transfer aggregated funds to the attacker through the transferFees function.
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