Term Finance Vault Exploit Drains $8.5M in Ethereum Deposits

Decentralized lending protocol Term Finance suffered an estimated $8.5 million loss after an attacker exploited governance control of its strategy vaults.

According to blockchain security firms, nearly all of Term's approximately $8.8 million in Ethereum deposits were removed during the attack.

The reported loss represented about 68% of the $12.45 million held in Term's vault product before the attack, according to Defillama data.