Exploiting governance with metamorphic proposals

The Unit 0x team, a Coinbase team dedicated to investigating and preventing attacks in the broader crypto ecosystem, investigated a recent governance takeover which serves as a great case-study for handling metamorphic contracts by governance protocols. In this in-depth analysis the team will discuss the “Wild Magic” technique used to trick reviewers of the governance proposals, how it was used to steal assets from the governance contract, and explore attacker’s on-chain activity following the hack.