Terra’s Mirror protocol warns community against governance attack

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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.

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.

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Voting results of Poll 211. Source: mirrorprotocol.app

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.

Genesis-mining

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.

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Daily GitHub submissions Bitcoin, Solana, Cardano and Polkadot from Nov. 12–Dec. 13, 2021. Source: Santiment

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.

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