Security
Term Labs Governance Exploit Wasn’t a Hack — It Was an $8.5M Vote Grab
The Cryptonomist·August 23, 2026·1 min read
On August 23, 2026, a governance exploit hit Term Labs' vault infrastructure, draining about $8.5 million in Ethereum and stablecoins from the DeFi lending protocol. Unlike a typical hack, the attacker bought enough voting power to manipulate governance, not exploiting a smart contract flaw. The incident highlights risks in DeFi governance mechanisms.
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