The BarnBridge SMART Yield (cUSDC) protocol was attacked on Ethereum, resulting in a loss of approximately $776,000, according to ChainCatcher. The incident is suspected to be a governance attack.
According to ChainCatcher, the attacker first gained DAO governance permissions and then upgraded the SmartYield/controller proxy to a malicious implementation contract. This contract subsequently called the _takeUnderlying privileged function of CompoundProvider, exploiting pre-existing USDC approvals from 50 user accounts to transfer aggregated funds to the attacker via transferFees.
BarnBridge SMART Yield Protocol Hit by $776K Governance Attack on Ethereum
2026-07-15 05:34:55
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