🚨 $8M+ drained from Ethereum lending protocol Term Finance
Attacker exploited governance voting power to execute the heist:
• 2,843 $ETH (~$6.9M)
• 1.68M $USDC
• 68% of vault assets gone
Another reminder that DAO governance isn't just about decentralization—it's a massive attack surface. If you're holding tokens in protocols with weak governance safeguards, you're not just an investor, you're exit liquidity waiting to happen.
Term Finance just became a textbook case of why governance security > everything else in DeFi.
Attacker exploited governance voting power to execute the heist:
• 2,843 $ETH (~$6.9M)
• 1.68M $USDC
• 68% of vault assets gone
Another reminder that DAO governance isn't just about decentralization—it's a massive attack surface. If you're holding tokens in protocols with weak governance safeguards, you're not just an investor, you're exit liquidity waiting to happen.
Term Finance just became a textbook case of why governance security > everything else in DeFi.
