According to CoinMeta, on August 18, Binance stated that its security team successfully thwarted a malicious governance proposal that could have put approximately $1.2 million worth of tokens from an unnamed decentralized autonomous organization (DAO) at risk. Binance claimed that its monitoring system independently identified the proposal within 48 hours before it was to be executed and coordinated with the project team and other centralized exchanges to shut down deposits of the affected tokens. The project team voted against the proposal before it was implemented, and Binance reported no financial losses. The attacker attempted to exploit weaknesses in the project’s on-chain governance mechanism; the threshold for creating such a proposal was considered too low, allowing the attacker to bypass the intended protocol requirements. Binance did not explain what these requirements were, nor did it disclose whether the attacker had accumulated governance tokens or borrowed voting rights. This incident highlights that user protection is not just about safeguarding one's own platform but also about enhancing the entire ecosystem's ability to withstand attacks.