The community accuses Compound of governance attack by proposing to transfer $24 million worth of COMP tokens from the treasury to the protocol designed by Golden Boys.

Compound Finance recently passed Proposal 289, allocating 5% of the Compound Treasury (499,000 $COMP, valued at 24 million USD) to a revenue protocol designed by Golden Boys. The community claims this is a governance attack, accusing a small group of individuals of purchasing a large amount of tokens on the open market and forcefully passing the proposal. Compound Finance security advisor Michael Lewellen discovered several addresses accumulating a large amount of $COMP tokens on the open market and proposing multiple proposals to transfer $COMP to the goldCOMP product created by an organization known as Golden Boys. However, after Proposal 289 was passed, Humpy, the leader of Golden Boys, defended the proposal, claiming that the requested investment was set up through a trust with binding actions, not theft/embezzlement of funds. Nevertheless, Ogle, one of the five members of the Golden Boys multisig, stated that he was completely unaware of the proposal. (The Block)