Crypto
Term Labs Vault Exploit Yields Estimated $8.5M Loss
A recent exploit targeting Term Labs' vaults resulted in an estimated $8.5 million loss.
The attack, which occurred on August 23, involved attackers draining Ethereum (ETH) and USD Coin (USDC) from affected Term vaults.
Term Labs confirmed the incident and is currently investigating the matter.
Crypto security firm PeckShield tracked about $8.5 million in losses from the governance attack, with 2,843 ETH valued at around $6.87 million being drained during the assessment.