Crypto
$8.5M Governance Exploit Hits Term Vaults
A significant security incident has occurred at Term Vaults, resulting in an $8.5 million exploit targeting protocol governance.
According to PeckShield, a security firm, approximately 2,843 ETH and $1.68 million in USDC were drained from the protocol.
The stolen assets were subsequently swapped for DAI, with the total value of the affected assets reaching around $8.5 million at the time of the attack.
Term Labs stated that they are actively investigating the incident and will release further information once it is available.