A person managed to submit a proposal to the DAO that governs BuildFinance, a "decentralized venture builder", that would allow them to take over the project contract. The attacker succeeded in obtaining enough votes for the proposal to pass, primarily because they held an outsized number of governance tokens, and because they were able to disable community Discord features that would have alerted more of the community to the proposal. After the proposal passed and they were granted control over the project, they began minting and selling the project's native $BUILD token, draining the project treasury of about $470,000. According to BuildFinance, "As things stand, the attacker has full control of the governance contract, minting keys and treasury. The DAO no longer has control over any part of the key infrastructure." Some have questioned whether the incident can properly be described as an "attack" or "hostile takeover": everything worked exactly as it was supposed to in a "code is law" sort of way, even though it was against the intentions of the project founders and presumably most of its community.