Term Finance loses $8.5M as attacker exploits cheap governance voting power

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Ethereum-based lending protocol Term Finance suffered an $8.5 million loss following a targeted exploit. An attacker acquired voting tokens to gain control over the protocol's governance mechanism. The incident highlights a critical vulnerability where the cost of buying voting power was lower than the value of assets under the protocol's control. This type of governance attack underscores growing concerns about lightly held voting tokens in decentralized finance protocols.

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