🚨 $8M+ GOVERNANCE EXPLOIT ON ETHEREUM LENDING PROTOCOL
Term Finance just got wrecked through a governance voting power attack
The damage:
• 2,843 $ETH (~$6.9M)
• 1.68M $USDC
• 68% of vault assets DRAINED
This is exactly why governance tokens aren't just memecoins - they're attack vectors. Someone gamed the voting mechanism and walked away with the treasury.
DAO security isn't optional anymore. If your protocol has governance, assume it's being studied by attackers right now.
Another day in DeFi. DYOR on governance risks before you stake.
Term Finance just got wrecked through a governance voting power attack
The damage:
• 2,843 $ETH (~$6.9M)
• 1.68M $USDC
• 68% of vault assets DRAINED
This is exactly why governance tokens aren't just memecoins - they're attack vectors. Someone gamed the voting mechanism and walked away with the treasury.
DAO security isn't optional anymore. If your protocol has governance, assume it's being studied by attackers right now.
Another day in DeFi. DYOR on governance risks before you stake.
