Terra's Mirror Protocol Under a Series of Governance Attacks

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Terra ecosystem has been showing prolific growth, with blockchain surpassing Binance Smart Chain in term of total value locked across its protocols. Currently Terra's blockchain TLV is $21.1 billion, and is rising steadily.

But all of this lime light have also attracted attention of hackers. Recently synthetic assets protocol Mirror came under governance attack, with attacker trying to rob the protocol of $38.7 million worth of tokens.

The attacker tried to rob the network, by posting a (malicious) public poll no 185 titled "Freeze the community pool in case of scam". The proposal if approved would have sent 25 million MIR tokens (worth $64.2 million at the time of writing) to the hacker’s address.

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However, the Mirror Protocol thwarted away the scam proposal by warning the user, with majority of community voting against it. Poll 212 to warn the unwary investors.

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Mirror Protocol has been under a series of governance attacks, with poll 185, 198, 204, 206, 207 and 208 also amid at substantially draining Mirror's community pool. Despite of scam attempts, Mirror Protocol's native MIR token remains bullish.

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DAOs and DeFi; we probably need to consider the relevance of these two in terms of security. they are fast eating down the reputation of blockchain technology when it comes to security.

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