TechFlow News — March 14: The official team behind True Seigniorage Dollar (TSD), a cross-chain stablecoin on ETH and BSC, announced that a malicious attacker exploited the TSD DAO to mint 11.8 billion TSD tokens into their account and subsequently dumped all of them on Pancakeswap. According to True Seigniorage Dollar, the attack unfolded as follows: the developer account originally held only 9% of the DAO voting power. The attacker gradually accumulated tokens at low prices, eventually gaining control of 33% of the DAO. They then proposed an implementation plan and voted in favor of it. Within the implementation, the attacker inserted code into the mint function to mint 11.8 billion TSD tokens for themselves.
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