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Term Finance Suffers $8.5M Vault Exploit: DeFi Security Risks Continue to Mount

Guavy AI Editorial Team
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Term Finance, an Ethereum-based lending platform, has suffered a significant security breach that drained approximately $8.5 million in digital assets from one of its vaults.

The exploit targeted the platform's Term Vault and resulted in the loss of 2,843 ETH (worth roughly $6.9 million) and 1.68 million USDC, which was later swapped for DAI.

Term Finance has confirmed the hack and stated that they are actively investigating the incident to determine the root cause and recover any funds.

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