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Governance takeover attempt risks $337K in YAM Finance via proposal to control protocol Timelock.

Market News
02 Sep 2026
Crypto news
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Bearish
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An attacker self-delegated about 504,000 YAM tokens (3.3% of supply) to submit proposal #45 aiming to become pending admin of YAM Finance's Timelock, risking control over protocol contracts and $337,000 in the DAO treasury. The proposal could grant the attacker administrative control if passed and executed before block 25,897,343. Security firm Defimon alerted the community to vote against the proposal to prevent the takeover. This incident follows a trend of governance attacks exploiting low participation in decentralized organizations, with similar attacks recently targeting StrongBlock, Term Labs, and BonkDAO.

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