PANews, August 23: According to CertiK monitoring, Term Labs suffered a governance attack, resulting in losses of approximately $8.5 million. Of this, 2,843 ETH and approximately 1.6 million DAI are currently held in an address beginning with 0xD5183. Term Labs responded that its treasury was affected by a governance vulnerability and will release further details following additional investigation.
Term Labs Suffers Governance Attack, Loses $8.5M
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Summary
Term Labs suffered a governance attack, resulting in an $8.5 million loss, according to PANews. CertiK reported 2,843 ETH and 1.6 million DAI in an address starting with 0xD5183. The team confirmed a governance vulnerability affected its vault and will provide further details following an investigation. With the Fear & Greed Index indicating heightened volatility, altcoins under scrutiny may face additional pressure amid such security incidents.
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