๐จ DeFi Just Lost $8.5M โ And the Problem Wasnโt a Normal Smart-Contract Hack.
Term Labs says a governance exploit impacted its Term vaults, with security monitors reporting roughly $8.5M in assets lost.
That part is worrying.
But the bigger question for me is this:
If an attacker can gain enough governance power to control a DeFi protocol, should we really call it โdecentralizedโ โ or does governance itself become the biggest attack surface?
Code can be audited.
But who controls the votes?
Thatโs the part Iโll be watching much more closely from now on.
Would you trust a DeFi protocol with strong code but weak governance?
Yes or no โ and why? ๐
#Defi #Ethereum #Crypto #TrenddingTopic
Term Labs says a governance exploit impacted its Term vaults, with security monitors reporting roughly $8.5M in assets lost.
That part is worrying.
But the bigger question for me is this:
If an attacker can gain enough governance power to control a DeFi protocol, should we really call it โdecentralizedโ โ or does governance itself become the biggest attack surface?
Code can be audited.
But who controls the votes?
Thatโs the part Iโll be watching much more closely from now on.
Would you trust a DeFi protocol with strong code but weak governance?
Yes or no โ and why? ๐
#Defi #Ethereum #Crypto #TrenddingTopic