X100 Stablecoin Exploit Drains $4.7M on October 24 via Governance Vulnerability

According to The Cryptonomist, X100 stablecoin suffered an exploit on October 24 that drained $4.7M from its treasury after attackers exploited governance vulnerabilities to seize protocol voting control.

The attack exposed critical flaws in the protocol's governance mechanism, allowing unauthorized actors to accumulate voting power and execute unauthorized treasury transfers.

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