Term Labs Loses $8.5M in Governance Exploit as Vault Security Faces Scrutiny

TLDR: Term Labs confirmed a governance exploit that security firms estimate drained roughly $8.5M from its vaults. PeckShield traced 2,843 ETH worth about $6.87M and 1.68M USDC, later swapped into roughly 1.68M DAI. Term’s vault governance uses a Gnosis Safe, Zodiac Delay Module and seven-day timelock with DAO veto rights. DeFiLlama showed $10.87M in TermFinance [...]

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