Hifi DAO Suffers Governance Takeover Attack, Initial Losses Estimated at $20,000

Hifi DAO has encountered a governance takeover attack, rendering HIFI token holders unable to control the protocol, governance smart contracts, and HIFI token supply. The team has urged users with collateral in the Hifi Protocol to withdraw immediately and requested the controllers of the two relevant addresses to withdraw WETH from the protocol. The core team failed to detect and prevent this attack in a timely manner and has taken full responsibility. Measures have been implemented to limit the impact of the attack, with initial losses estimated at around $20,000. The DAO has sufficient funds and will compensate all affected parties, with liquidity permanently withdrawn from decentralized exchanges. All outstanding debts collateralized by RWA will be directly managed by the core team and will no longer be processed through the compromised smart contracts, with full repayment expected by March 26, 2027, and no new debts will be issued by the protocol. The team will release a complete investigation report in due course.

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