MakerDAO Members Voting on a Safeguard Against BProtocol Flash Loan-Type Attack
- The Maker DAO community is voting Friday on a proposal to change its governance system to harden it against flash loan attacks.
- This proposal comes after the team from BProtocol flash borrowed $7 million worth of MKR tokens from derivatives platform dYdX to swing a vote on Maker in their own favor.
- Maker DAO’s MKR token is required to vote on changes to the DeFi platform.
- According to a Maker DAO forum post, the proposed fix extends the delay between a proposal’s passing and its implementation from 12 hours to 72 hours, which would give the community enough time to review and veto an unfair vote.
- Additionally, the proposal would also deactivate two modules that allow users to freeze Maker’s liquidation engine and its oracle service.
- The proposal is being put to an on-chain vote Friday, Oct. 30.
