Ethereum based DeFi Lending Protocol Term Finance Suffers Setback as Governance Exploit Drains Millions from Vaults
Security
The Ethereum-based fixed-rate lending platform Term Finance has suffered substantial losses after an attacker manipulated its governance system. Security researchers estimate the damage at around $8.5 million, with the majority of assets drained from the protocol's specialized vault products on August 23, 2026.
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