Governance Is the Risk
Your #DeFi deposit can be drained without anyone hacking the code.
Term Finance reportedly lost around $8.5M after an attacker gained enough voting power to control affected vaults and redirect funds.
No reentrancy.
No broken contract.
The weak point was governance.
Before depositing, ask:
→ Who controls the votes?
→ Is there a real timelock?
→ Can governance move user funds?
Don’t only audit the code. Audit who has the power.
Would governance risk change how you choose a DeFi protocol?
#DeFi #Ethereum #CryptoSecurity $ETH
Your #DeFi deposit can be drained without anyone hacking the code.
Term Finance reportedly lost around $8.5M after an attacker gained enough voting power to control affected vaults and redirect funds.
No reentrancy.
No broken contract.
The weak point was governance.
Before depositing, ask:
→ Who controls the votes?
→ Is there a real timelock?
→ Can governance move user funds?
Don’t only audit the code. Audit who has the power.
Would governance risk change how you choose a DeFi protocol?
#DeFi #Ethereum #CryptoSecurity $ETH
