Terra’s Mirror protocol warns community against governance attack
Public blockchain network Terra has confirmed an ongoing scam attack via an official governance poll on Mirror, an in-house synthetic assets protocol.
According to Mirror, the attacker launched a public poll on Mirror’s official website, which proposes a freeze on the community pool in case of a scam.
— Mirror Polls (@mirror_polls) December 25, 2021
According to Poll ID: 211, named “Freeze the community pool in case of scam”, the scammer proposes an upgrade of safer community governance rules in case of a hack. If the hacker manages to get a positive majority on the poll, 25 million MIR tokens (worth $64.2 million at the time of writing) will be sent to the hacker’s address.
As evidenced by the above screenshot, Mirror’s proactive approach to warn the community has seen a sizable increase in the number of ‘No’ votes — confirming the security of the funds. According to WuBlockchain, the attacker initiated Proposal 185, disguised as a request for cooperation with Solana, effectively trying to defraud 25 million MIR tokens from the community fund pool.
The attacker’s poll will remain publicly available for voting till Jan. 01. However, the Mirror team launched Poll 212 to warn the unwary investors:
“Poll 211 sending 25,000,000 MIR to itself. VOTE NO to any poll sending community funds out.”
Mirror has also identified six other polls — with IDs 185, 198, 204, 206, 207 and 208 — that have attempted to substantially drain the community pool and cause MIR dumping:
“Poll# 208 is the 2nd attack on mDOT and is created by the same thief who started this wave of community pool stealing with its fake-burn poll #177.”
Related: Solana on-chain development increases after a recent DDoS attack
Public blockchain platform Solana has amped up its on-chain development initiatives following a recent distributed denial-of-service (DDoS) attack.
As Cointelegraph reported, the fifth-largest blockchain managed to overcome the attack without having to shutdown the network. However, citing concerns over network vulnerability, Solana has increased its on-chain activities.