Term Labs: Successfully restored fixed-rate loans after a $8.5 million governance attack
2026-09-03 17:02:48
According to CoinMeta, Term Labs announced that it has successfully restored all fixed-rate loan positions affected by the governance attack in August, with the last transfer occurring on August 25th. The protocol stated that the attack was limited to the liquid balances within Term Vaults, and its V1 and V2 contracts were not affected. Security companies Certik and PeckShield estimated that the attack caused losses of approximately 8.5 million US dollars, including about 2,843 ETH and 1.68 million USDC. Term Labs also mentioned that the affected Meta Vaults and strategies are still in a closed state, and new deposits have been permanently disabled.
Source:Cryptonews
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