Binance’s security team detected and stopped a malicious proposal aiming to drain approximately $1.2 million from an unnamed DAO’s treasury. The incident, occurring on August 18, 2026, was neutralized in under 48 hours through cross-platform coordination to freeze deposits and community mobilization where token holders voted the proposal down. No funds were lost. This marks the second major governance-targeted attack on a DAO in two months, following the BonkDAO hack in July 2026 which resulted in approximately $20 million in losses. Chief Security Officer Jimmy Su highlighted that growing risks in the crypto space are increasingly centered on human behaviors and access rather than platform-specific code vulnerabilities.
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