Listed Finance thwarts hijackers, set to compensate 2021 hack victims

Listed Finance, an Ethereum-based venture that suffered a $16 million hack in 2021, has efficiently thwarted two hijacking makes an attempt. Management of the venture’s decentralized autonomous group (DAO) will likely be returned to its founders, who goal to allocate the remaining treasury to victims of the 2021 hack.

In a thread on X (previously Twitter), Laurence Day, a former core contributor, detailed the efforts of the Listed group in overcoming two hijacking makes an attempt on the remaining treasury of the Listed DAO. Each attackers acquired important quantities of the protocol’s NDX token and aimed to take management of the DAO’s approximately $120,000 in digital asset holdings by way of malicious proposals.

The preliminary proposal, missing a title or description in an obvious effort to keep away from detection, was thwarted as Day and fellow group members mobilized the Listed DAO for votes in opposition to it. The attacker’s proposal neared approval inside an hour, however adequate “No” votes have been solid to forestall its passage.

Okay so this is what simply occurred to the Listed DAO

The wreckage will be seen within the Tally panel beneath

This can be a lengthy thread, however I wish to report it someplace pic.twitter.com/wRTRZZcwhm

— laurence, backed by paradigm (@functi0nZer0) November 25, 2023

Nevertheless, because the Listed staff needed to overtly coordinate votes in opposition to the proposal, Day anticipated the opportunity of a copycat assault. Moreover, as Day detailed in his thread, an extra vulnerability might jeopardize funds past the DAO’s treasury if it results in unfriendly management.

To mitigate the specter of a subsequent assault, the Listed DAO accepted a “poison capsule” proposal, granting it the authority to burn the remaining treasury funds if essential to discourage potential attackers.

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Upon the anticipated second assault, the assailant initially sought to barter for 50% of the remaining treasury, as revealed in on-chain messages. Listed founder Dillon Kellar responded by proposing $10,000 price of Dai (DAI) and warned of burning the whole treasury if the attacker refused.

With solely 4 hours left till Kellar’s ultimatum, and following an try to counter-negotiate for $17,000, the attacker accepted the unique provide and withdrew their malicious proposal. Authority over the DAO will now return to a multisig managed by Day, Kellar, and the pseudonymous co-founder PR0, with plans to compensate victims of the 2021 hack utilizing the remaining treasury funds.

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