CoinMeta data: According to GoPlusSecurity, on September 22, a governance attack occurred on the Neutron chain. The attackers utilized governance proposals to gain administrative access to the contract and transferred funds, resulting in a loss of approximately $9.4 million (of which about $1.96 million has already been transferred). The root cause of the attack lies in the fact that WASMD on Neutron allows on-chain governance to execute msgupdateadmin and rewrite the contract administrators; application-level multi-signatures are not the ultimate authority. The attack process included malicious proposals, cheap voting, and fund transfers. The attackers uploaded malicious code one hour before the voting ended and executed the contract migration.