Security incident · 2026-08-23
TermFinance Vaults
According to the public DefiLlama incident dataset, TermFinance Vaults (Ethereum) suffered a security incident on 2026-08-23, with about $8.5M reported lost.
| Date | 2026-08-23 |
|---|---|
| Reported loss | $8.5M |
| Chain | Ethereum |
| Target type | DeFi Protocol |
| Technique class | Governance |
| Technique | Malicious Proposal |
| Bridge incident | No |
| Within 2026 | #29 by loss that year, 0.4% of all reported losses that year |
How this kind of attack works
The attacker briefly gained enough voting power to pass a proposal that sent treasury funds to themselves.
Would a pre-payment check have helped
Governance attacks are countered by voting design and timelocks.