Defi Protocol Term Labs Loses $8.5M in Governance Exploit

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The post Defi Protocol Term Labs Loses $8.5M in Governance Exploit appeared first on Coinpedia Fintech News

The DeFi protocol Term Labs has suffered an estimated $8.5 million loss after an attacker gained control of its governance system and used it to drain several vaults. The attack did not break the protocol’s code. Instead, the attacker gained enough voting power to approve transfers of funds. How Term Labs Exploit Happens Blockchain security …