Term Finance Loses $8.5M in DeFi Governance Attack

Ethereum lending protocol Term Finance lost an estimated $8.5 million in a governance attack, with the attacker seizing control of several lending vaults. The attacker withdrew approximately 2,843 ETH (about $6.9 million) and 1.68 million USDC, draining roughly 68% of assets in Meta Vaults, which held about $12.45 million before the exploit.