$1.58 Million Vanishes in Minutes: How a Tiny Token’s Governance Was Hijacked

BeInCrypto Editorial

(01:38 PM UTC)

1 min read

A low-cap token’s weak safeguards enabled a swift takeover that exposed ongoing risks in DeFi voting systems.

Blockchain security firms today reported a $1.58 million exploit on Token of Power ($TOP), where an attacker seized governance control, minted billions of tokens, and drained liquidity from a Balancer V1 pool.

How the Attack Happened

An address funded through Tornado Cash acquired over 50%…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

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