Indexed DAO to distribute remaining treasury after defeating hijack attempts | Headlines | News | CoinMarketCap
11/26/2023 04:23
Indexed Finance, the Ethereum-based project that was hacked for $16 million in 2021, has fended off two hijacking attempts and will return control of …
The Block11 minutes ago
Foresight
Published on November 25, 2023 21:12 GMT+00:00edited on November 25, 2023 21:14 GMT+00:00
Indexed Finance, the Ethereum-based project that was hacked for $16 million in 2021, has fended off two hijacking attempts and will return control of its DAO to its founders, who plan to redistribute the treasury to victims of the 2021 hack.
In a thread on X, former core contributor Laurence Day explained how the Indexed community rallied to defeat two attempts to hijack Indexed DAO's remaining treasury. Each attacker purchased large amounts of the protocol's NDX token and attempted to seize the roughly $120k worth of digital assets the DAO still controls through malicious proposals.
The first such proposal, which had no title or description in an apparent attempt to evade detection, was defeated after Day and others marshaled the Indexed DAO community to vote against it. …