GOVERNANCE EXPLOIT ALERT 🚨
$ETH lending protocol Term Finance just got rekt for $8M+ through a voting power attack
Attacker drained:
• 2,843 $ETH (~$6.9M)
• 1.68M $USDC
• 68% of vault assets gone
This is why DAO governance isn't just about "decentralization" - it's about attack vectors. Voting power concentration = single point of failure.
Another day, another DeFi protocol learning expensive lessons about security assumptions.
If you're farming yield on governance-heavy protocols, understand WHO controls the votes. Not your keys, not your coins. Not your votes, not your funds either.
$ETH lending protocol Term Finance just got rekt for $8M+ through a voting power attack
Attacker drained:
• 2,843 $ETH (~$6.9M)
• 1.68M $USDC
• 68% of vault assets gone
This is why DAO governance isn't just about "decentralization" - it's about attack vectors. Voting power concentration = single point of failure.
Another day, another DeFi protocol learning expensive lessons about security assumptions.
If you're farming yield on governance-heavy protocols, understand WHO controls the votes. Not your keys, not your coins. Not your votes, not your funds either.
