According to CoinMeta, Yam Finance recently encountered an attempt at governance takeover. The attacker accumulated sufficient delegated voting rights and submitted a proposal that could grant them control over the protocol’s time lock. The risk involved is approximately $337,000. Decurity, a security company that operates an on-chain monitoring service called Defimon, stated that the attacker delegated about 504,000 Yam tokens to themselves, which accounts for about 3.3% of the total supply, sufficient to exceed the required quorum for governance. Defimon warned the community that the attacker’s proposal contained an empty description and called on Yam holders to vote against it before block 25,897,343. The proposal still needs to go through the governance process and be executed before the attacker can make any changes to the time lock administrator.