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.

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Team's response: "We're sad, but thats how DAO works." Lol