Term Labs2026-09-03 09:03:13Term Labs Restores Fixed-Rate Loan Positions Affected by $8.5M Governance AttackTerm Labs has fully restored all fixed-rate loan positions affected by an August governance attack, with the final transfer completed on August 25. The attack caused approximately $8.5 million in losses. A community-approved recovery plan ensured all affected users were compensated. Meta Vaults and related strategies remain closed, as reported by Crypto.news.950
Term Labs2026-09-03 06:50:37Term Labs Recovers All Fixed-Rate Loan Positions, Details Attack VectorTerm Labs, a fixed-rate lending protocol, announced that all fixed-rate loan positions in affected vaults have been recovered as of August 25. The incident was limited to the floating balance in Term vaults; meta-vaults and related strategies remain closed. The attacker funded via Tornado Cash, submitted a governance proposal to zero out the governance delay, deployed fake contracts, and drained funds. Term V1 and V2 contracts were not compromised, and the direct lending market continues to operate normally.1160
Term Finance2026-08-25 19:32:36Term Finance Permanently Shuts Meta Vaults After Governance Attack, Keeps Withdrawals OpenTerm Labs, the team behind fixed-rate lending protocol Term Finance, said all Term Meta Vaults have been permanently shut following a governance attack, while withdrawal access remains available. In an Aug. 23 update, the team said the shutdown is irreversible and future deposits have been blocked for good. It did not disclose how much remains in the vaults and said only that it would "explore paths" to address any shortfall, leaving the amount depositors may ultimately recover unresolved. Blockchain security firm PeckShield estimated that the attacker stole about 2,843 ETH, worth roughly $6.87 million at the time, along with 1.68 million USDC later swapped into about 1.68 million DAI, bringing total losses to about $8.5 million. On-chain records show transfers of 2,841.74 WETH and 1.68 million USDC to addresses labeled by Etherscan as "Term Finance Exploiter 1" and "Term Finance Exploiter 2." Yearn said the affected vault contract used its V3 architecture, but the exploit targeted a custom governance wrapper built by Term rather than a standard Yearn vault. Term added that its underlying protocol and direct lending markets have not been affected based on the current investigation.1060
Term Labs2026-08-25 00:43:45PeckShield says Term Labs attacker address deposited 300 ETH into Tornado CashBlockchain security firm PeckShield said it detected a deposit from an attacker address tied to Term Labs into Tornado Cash. According to the monitoring update cited by ChainCatcher, the address transferred 300 ETH, with an estimated value of about $741,000. The brief did not provide additional on-chain details, including the exact transaction hash, the timing of the deposit beyond the report, or any information on subsequent fund movements. The report only states that the funds were sent to Tornado Cash and gives the size and approximate dollar value of the transfer. ChainCatcher published the item as a market analysis newsflash.960
Term Labs2026-08-24 03:21:21Term Labs shuts all Meta Vaults and removes DAO governance roles after incidentTerm Labs said all Term Meta Vaults have been shut down as it continues to respond to a security incident tied to Term Vault governance. In an update posted on X, the team said the DAO governance roles have also been removed. According to the statement, the shutdown is irreversible. New deposits into the Meta Vaults are now permanently disabled, while withdrawals remain available. Term Labs said the incident involves Term Vault governance, and added that the underlying Term protocol and its direct lending markets have not been affected based on the team’s current review. The company said it is still verifying the full scope of the impact. If there is still a funding shortfall after that process, the team said it will look for ways to address it. Earlier, Foresight News cited CertiK monitoring that said Term Finance suffered a governance attack yesterday, with losses estimated at about $8.5 million.1170
Wintermute2026-08-24 01:32:28Crypto Morning Brief: Wintermute Sends 3,834 BTC to Binance, Dalio Warns of a U.S. Debt CrisisTechFlowPost’s Aug. 24 crypto morning brief covered a wide range of market-moving developments. The headline on-chain flow came from market maker Wintermute, which moved a cumulative 3,834.3 BTC to Binance during the week, including 590.9 BTC transferred about 43 minutes before the cited update, according to Onchain Lens. In macro markets, Bridgewater founder Ray Dalio warned that a U.S. debt crisis could arrive in roughly three years, with a two-year margin either way, citing a $2 trillion annual deficit and about $10 trillion in debt that needs refinancing. He said investors should cut bond exposure, raise gold allocations to 10% to 15% of portfolios, and hold a small amount of Bitcoin. The brief also noted an $8.5 million governance attack on DeFi lending protocol Term Labs, Eric Trump’s public denial of claims that Donald Trump would launch a new token, Standard Chartered’s view that its $100,000 year-end Bitcoin target may be too low, a whale deposit of 2,555 BTC to Binance, Machi’s reported 84x gain on Hyperliquid in three days, and Jiang Zhuoer’s view that ETH could outperform BTC in the current cycle.1340
Term Labs2026-08-23 07:58:40CertiK says Term Labs hit by governance attack with about $8.5 million lostBlockchain security firm CertiK said Term Labs was hit by a governance attack that led to losses of about $8.5 million. According to CertiK’s monitoring, 2,843 ETH and roughly 1.6 million DAI tied to the incident are currently held at an address beginning with 0xD5183. Term Labs later said its vault was affected by a governance vulnerability and that it will release more details after completing a further investigation. No additional information on the exploit path, recovery efforts, or affected users was disclosed in the source material. The incident was cited by CertiK in a post linked as the source for the update.1190
