Security
Term Finance Exploit: $951 Bought 90% Control, Drained $8.5M
The Cryptonomist·August 24, 2026·1 min read
A crypto attacker spent $951 to gain 90% control and drain $8.5 million from the Term Finance lending protocol. The exploit, which occurred over the weekend, is being cited as a case study in how thin governance participation can make a protocol an easy target. No smart contract bug was involved.
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