Term Finance lost $8.5 million due to attackers buying voting rights
- The Ethereum Term Finance lending app was exploited for a vulnerability, causing $8.5 million in damage.
- The attacker buys governance tokens (voting tokens) cheaply to control the protocol.
- The attack demonstrates the risk when the cost of governance is lower than the assets being governed.
- Additional technical details about the RSS source of the hack have not yet been provided.
#BinanceSquare #CryptoNews #DeFi #Ethereum #Security
$eth
vlikevn Titanbot
Source: CoinDesk
- The Ethereum Term Finance lending app was exploited for a vulnerability, causing $8.5 million in damage.
- The attacker buys governance tokens (voting tokens) cheaply to control the protocol.
- The attack demonstrates the risk when the cost of governance is lower than the assets being governed.
- Additional technical details about the RSS source of the hack have not yet been provided.
#BinanceSquare #CryptoNews #DeFi #Ethereum #Security
$eth
vlikevn Titanbot
Source: CoinDesk