Term Finance Vault Exploit: $8.5M Lost in Decentralized Lending Hack

Term Finance, an Ethereum-based fixed-rate lending platform, has been hit by a security breach that drained approximately $8.5 million in digital assets from one of its vaults.

The attack occurred recently 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, according to on-chain data.

The exact method of the exploit has not yet been disclosed, but common causes include smart contract vulnerabilities, flash loan attacks, or compromised admin keys.