Terra-based Project Mirror Protocol is Attacked by Scammers

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A group of scammers are trying to empty the community pool of the Mirror Protocol project through the on-chain voting system, CertiK has reported. The cybercriminals have published a series of proposals, if accepted, MIR tokens worth more than $111 million will be sent to their addresses.

The Mirror Protocol has been designed to issue synthetic assets on the Terra blockchain. These are tokenized versions of traditional market instruments like stocks and bonds.

The MIR governance token allows users to submit proposals for improving the protocol and vote on their approval.

The latest fraudulent proposal – “Freeze the community pool in case of hacking” – is registered under number 211. If the attacker manages to get the majority of votes, 25 million MIR (worth about $65.75 million at the current exchange rate).

Voting on this proposal will end on January 1, 2022.

Community members have found six more similar polls on the project management page. Potentially, attackers can get over 45 million MIR.