Security
Term Finance Loses $8.5M After Attacker Exploits Governance Voting to Drain Vaults
CoinCentral·August 24, 2026·1 min read
Term Finance lost an estimated $8.5 million from its Meta Vaults on August 24, 2024. An attacker drained 2,843 ETH (about $6.87 million) and 1.68 million USDC, swapping USDC for DAI. The attacker bought cheap governance tokens to gain voting control. Term Labs permanently shut down all Meta Vaults.
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