Binance said its security team detected a malicious governance proposal aimed at an unnamed DAO treasury, with about $1.2 million in tokens potentially at risk and less than 48 hours left before execution. The exchange said the attacker exploited a low proposal-creation threshold in the project's on-chain governance system, then coordinated with the project and other centralized exchanges to close deposits for the affected token. The proposal was voted down before execution and no funds were lost, Binance said. Binance did not identify the project, affected token, proposal ID or on-chain transactions, leaving the exposure estimate and intervention timeline unverified outside the exchange's account. The case highlights persistent governance risks for DAOs, following BonkDAO's disclosure in July that a malicious proposal transferred about $20 million of BONK from its treasury after an attacker amassed enough voting power to authorize the move.