Term Finance Suffers $8.5M Exploit and Closes Meta Vaults
Term Finance permanently shut down its Meta Vaults following an estimated $8.5 million exploit that drained nearly all Ethereum deposits.
Decentralized protocol Term Finance has experienced a security breach targeting its vault governance, leading to an estimated loss of $8.5 million.
The exploit resulted in the drainage of nearly all Ethereum deposits stored in the platform's Meta Vaults. Following the incident, Term Finance announced the permanent shutdown of the affected vaults.
Incidents like this highlight the governance and smart contract vulnerabilities present in decentralized finance pools, reinforcing the importance of keeping long-term assets secured in independent self-custody where you retain full control over your private keys.
Source: Cointelegraph
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