THE BLOCK: Term Labs permanently shuts all Term Meta vaults, revokes DAO governance roles; withdrawals still available

AI Market Summary

Term Labs says all Term Meta vaults are permanently shut and DAO governance roles revoked after a reported governance exploit impacting Term Finance vaults, with losses cited around $8.5M. While withdrawals remain open, the incident underscores persistent smart-contract and governance risk in DeFi, likely pressuring risk appetite and raising scrutiny on similar vault and DAO-controlled products in the near term.

Impact level

● Medium

Affected assets

BTC/USDT+0.81%

AI Insight · BTC/USDTAI Insight

▼ Bearish

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THE BLOCK reported that Term Labs said in an update it has permanently closed all Term Meta vaults and revoked DAO governance roles. Withdrawals remain available. The team previously disclosed that a governance exploit impacted Term Finance vaults, with reported losses of $8.5 million.

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