Hacker hijacked DAO governance, printed himself 11.8 Billion tokens and sold all of it, crashing the price of TrueSeigniorageDollar to zero.
In the latest DeFi attack, a hacker slowly bought enough stake (33%) to control True Seigniorage Dollar's DAO voting process, thus hijacking the DAO. Then proposed a new implementation in the code and using his own stake, passed the changes and when implementing it, he inserted a malicious code to print himself 11.8 billion of TSD coins and then immediately dumped all of it on pancake swap. Thus the price of the project went to zero instantly.
submitted by /u/DetroitMotorShow