Data: BarnBridge governance attack suspected to have caused approximately $776,000 in losses

According to BlockSec Phalcon monitoring, the BarnBridge SMART Yield (cUSDC) protocol was attacked on Ethereum, resulting in a loss of approximately $776,000, suspected to be a governance attack.

The attacker first gained DAO governance rights, then upgraded the SmartYield/controller proxy to a malicious implementation contract, which subsequently called the _takeUnderlying privileged function of CompoundProvider, using the pre-existing USDC authorizations of 50 user accounts to transfer aggregated funds to the attacker through transferFees.