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Onyx DAO treasury loses $2.91M in XCN after attacker exploits governance proposal

Market News
06 Oct 2026
Crypto Briefing
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Bearish
Onyx DAO treasury loses $2.91M in XCN after attacker exploits governance proposal

On October 6, 2026, an attacker exploited Onyx DAO's governance system to transfer 620 million XCN tokens, worth about $2.91 million, from its Ethereum treasury to attacker-controlled wallets. The attacker managed to pass a malicious governance proposal and bypassed all governance checks, including a two-day timelock designed to prevent such exploits. This incident highlights risks in decentralized governance, especially when voting power is concentrated, and may prompt Onyx to strengthen its security measures, such as multi-signature requirements or stricter voting protocols. Onyx has faced similar security issues before, with losses exceeding $3.8 million in past years, emphasizing the need for ongoing community vigilance and improved governance safeguards.

The Onyx DAO treasury's recent movement of 620 million XCN tokens is notable context for readers. For those tracking the broader cryptocurrency market, here is Pluang's snapshot as of Oct 07, 2026 03:33 WIB: out of 50 major cryptocurrencies, 12 rose and 37 fell today. Among them, ZIL (Zilliqa) declined by 3.52% to Rp63 with a typical hold time of 133 days and a buy order activity of 72%, CRV (Curve DAO Token) dropped 3.47% to Rp6,488 with 55% sell orders, and MANA (Decentraland) decreased 3.13% to Rp1,827 with 71% buy orders.

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