$11M Phishing Scam Hits MakerDAO Delegate

A high-ranking MakerDAO governance delegate has fallen victim to a phishing scam, losing $11 million in crypto assets. The scam exploited vulnerabilities in the delegate's security measures, raising concerns about the integrity and safety of the MakerDAO governance process.

• Defendant: Unidentified scammers targeting a MakerDAO delegate
• Crime: Phishing scam resulting in significant financial loss
• Amount Defrauded: $11 million in crypto assets (Aave Ethereum Maker and Peirce USDC tokens)
• Method: Phishing attack exploiting security vulnerabilities and obtaining multiple signatures from the delegate
• Sentence: Investigation ongoing; no verdict or penalties yet
• Additional Penalties: N/A at this stage
• Investigation: Ongoing; details not specified
• Pleas: N/A
• Prosecutor's Statement: N/A

On June 22, 2024, a MakerDAO delegate was targeted in a phishing scam, leading to the loss of $11 million in Aave Ethereum Maker (aEMK) and Peirce USDC tokens. The phishing attack was executed over several hours, during which the delegate unknowingly provided multiple signatures required to complete the unauthorized transfers. The compromised assets were then moved to an external account, prompting an immediate investigation into the incident.

A MakerDAO governance delegate lost $11 million in crypto assets due to a sophisticated phishing scam. The attack exploited security vulnerabilities, obtaining multiple signatures from the delegate and transferring the funds to an external account. This incident has raised serious concerns about the security of the MakerDAO governance process and the need for stricter protective measures. An ongoing investigation aims to identify and prosecute the scammers involved.