$9.3 Million in Crypto Disappears Following Neutron DAO's Governance Proposal

A recent proposal passed by Neutron DAO's governance process has led to an estimated loss of $9.3 million in crypto, with security tracker SlowMist attributing $4.9 million of that to Astroport and $4.4 million to Drop.

The proposal, titled 'AIATO: AI ($0.23 · Live) Agent Takeover. Phase 1: Agent Admin Registration,' was passed on September 22nd and included 11 'Update Admin' actions, which can change the control of a contract's administrator.

This incident highlights the risk that network governance may retain consequential authority over the software it hosts, making it crucial for users to assess applications beyond their procedures.