Hifi Finance: Holders lose control over the protocol; users are reminded to withdraw their collateral
2026-10-31 11:14:11
According to CoinMeta, the DEFI lending protocol Hifi Finance indicates that Hifi holders have lost actual control over the protocol, governance smart contract, and token supply. Users are advised to immediately withdraw their collateral from the protocol. The core team acknowledges that they failed to detect and prevent or reverse this DAO takeover attack in a timely manner and takes full responsibility for it. The team states that measures have been taken to significantly limit the impact of the attack, with estimated total losses of about $20,000; the final amount is still to be confirmed. DAO has sufficient resources to fully compensate those affected. All liquidity from decentralized exchanges DAO has been permanently withdrawn. Existing outstanding debts secured by RWA will be directly managed by the core team and will no longer interact with the compromised contract. It is expected that these debts will be repaid in full on March 26, 2027, and no new loans will be issued thereafter.
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