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Story Ecosystem IPFi Platform Hacked: Multi-Signature Governance Mechanism Breached, Millions in Assets Stolen
【BitPush】Unleash Protocol reports a major security incident. An external address infiltrated the backend through its multi-signature governance mechanism, successfully gained management permissions, and then executed an unauthorized upgrade of the smart contract—directly triggering a large asset withdrawal without approval.
The list of affected assets has been confirmed: WIP, USDC, WETH, stIP, vIP are all compromised. After being transferred to the external address, these assets were relayed through a third-party cross-chain infrastructure and ultimately disappeared into the darkness.
Currently, Unleash has hit the pause button—the entire protocol operations have been halted. The official statement indicates that the main responsibility for this incident lies in their governance and permission framework design. No signs of infiltration have been found in the Story Protocol's own contracts, validators, or underlying infrastructure. In other words, the issue is primarily locked within Unleash's own contracts and management permissions.