Panther Protocol governance system exploited via uncontested proposal, draining 5.12M ZKP tokens through proxy upgrade.
Security & Exploits ·
Panther Protocol's governance system was exploited through an uncontested proposal that drained 5.12M ZKP tokens by upgrading ZKP proxies to a drainer implementation. An attacker submitted a governance proposal and posted a "yes" answer backed by 0.5 ETH bond, which finalized after no honest party counter-bonded a "no" answer within the 12-hour timeout and 8-hour cooldown period, allowing the module to execute the drain.