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ajb413 avatar ajb413 commented on July 28, 2024 1

I think that we should always disclose known risks in the documentation if we are aware of them. If we decide to add extra defenses we should document that as well. I'd say a good spot is in the docs in the governance section for approveThis https://github.com/compound-finance/comet/tree/main/docs#erc-20-approve-manager-address

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ajb413 avatar ajb413 commented on July 28, 2024 1

Added note to the docs here #414

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kevincheng96 avatar kevincheng96 commented on July 28, 2024

The main intention for having approveThis is to allow governance to transfer out any ERC20s accidentally sent to Comet. We do recognize the ability for governance to give approval for the base and collateral assets and transfer out user funds.

However, as you noted, this will likely require a governance attack. We'd like to point out that in the case of a governance attack, the attacker would not even need approveThis to steal user funds as they could upgrade the implementation of Comet to whatever they please.

@ajb413 Do you think this governance attack risk is worth documenting, and if so, where would be the best spot to detail this risk?

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kevincheng96 avatar kevincheng96 commented on July 28, 2024

Sounds good, thanks Adam!

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