In a series of events, Indexed Finance, a DeFi project built on the Ethereum blockchain, successfully defended against two hijack attempts on its treasury. The project’s DAO (Decentralized Autonomous Organization) faced malicious proposals from attackers who purchased a significant amount of Indexed’s native token, NDX, in an attempt to gain control of the treasury. The first proposal almost gained approval but was thwarted by community members who rallied against it. Anticipating another attack, the DAO passed a “poison pill” proposal, granting them the authority to burn the treasury assets as a last resort. As expected, a second hijacker attempted to take control and even succeeded in getting their proposal passed. However, the hijacker was approached by Indexed Co-founder Dillon Kellar, who offered a counter-offer of $10,000 DAI to cancel the proposal or risk the assets being burned. The hijacker accepted the offer, foiling the second hijack attempt. In response to the multiple attacks, control of the treasury has now been handed over to Laurence Day, Kellar, and an individual known as PR0, who will manage it using a multi-sig system. The NDX token has experienced a decline in value and trading volume.