How a governance failure led to the Unleash Protocol hack

An unauthorised contract upgrade enabled direct withdrawals from the protocol.
Funds were bridged to Ethereum and laundered through Tornado Cash.
Assets affected included WIP, USDC, WETH, stIP, and vIP.A governance failure at Unleash Protocol has resulted in a major security breach, with attackers draining around $3.9 million in user funds.
The incident was first identified by blockchain security firm PeckShieldAlert and later confirmed by the Unleash team.
While the exploit did not affect the