Ampleforth Proposal 54 Canceled, 98% of USDC Balance Requested

Ampleforth's Proposal 54 was canceled on-chain before voting began, which aimed to transfer 2.5 million USDC to the proposal's author. Tally records show zero votes and the cancellation occurred before the scheduled voting start. The proposal was framed as a grant for Observatory for SPOT, an analytics tool for the AMPL and SPOT ecosystem, directing USDC to wallet 0x730C...dd82. A treasury snapshot from September 15, 2026, indicated approximately 2.54 million USDC, making the request about 98.5% of the displayed USDC and 70.2% of the total marked value of 3.56 million. Prior to the proposal, wallet 0x38cA...24D8 delegated 87,238.5461 FORTH to the proposing wallet, with the proposal creation following 19 minutes later. The proposal disclosed 0x38cA...24D8 as a potential voting address, but its control remains unidentified. On September 14, 0x38cA...24D8 transferred away the FORTH and called cancel(54) shortly after. Ampleforth's governance code allows cancellation if a proposer's voting power falls below a threshold. The sequence of transactions aligns with this rule, but does not clarify motives. The governance process involves discussions and formal proposals before binding votes, yet the records show the request reached the system without community support testing. GoPlus Security labeled the proposal as an attack before its cancellation, though no treasury loss or exploit occurred.

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