Term Labs
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anchored·3HY6B9…zYuASummary
Term Labs is the company behind Term Finance, an Ethereum-based fixed-rate DeFi lending protocol that uses an on-chain double-auction mechanism to match borrowers and lenders. The protocol, backed by $8 million in venture funding from Electric Capital, Coinbase Ventures, and Maelstrom, suffered two significant loss events: a $1.6 million oracle misconfiguration in April 2025 (partially recovered) and a governance manipulation attack on August 23, 2026 that drained approximately $8.5 million from its strategy vaults. The 2026 attack represents an active, unresolved incident with no published post-mortem or reimbursement plan at time of writing.
Connected Entities
6 entities · 60 linked investigations- Ethereum→mentioned with→Coinbase(60%)
- Term Labs→mentioned with→Coinbase(70%)
- Term Labs→mentioned with→Amazon(60%)
- Term Labs→mentioned with→Ethereum(80%)
- Term Labs→mentioned with→Balancer(60%)
- Balancer→mentioned with→Ethereum(70%)
- Term Finance→mentioned with→Amazon(60%)
- Term Finance→mentioned with→Ethereum(80%)
- Term Labs→mentioned with→Term Finance(80%)
- Term Finance→mentioned with→Term Labs(80%)
10 submissions awaiting moderator review.
Timeline(8 events)
28 February 2023
Term Labs raises $2.5 million seed round led by Electric Capital, with participation from Coinbase Ventures, Circle Ventures, and Robot Ventures.
PR NewswireAugust 2023
Term Finance launches on Ethereum mainnet, offering fixed-rate lending via on-chain double-auction mechanism.
CoinDesk9 July 2024
Term Labs closes a $5.5 million strategic funding round led by Electric Capital, including Maelstrom (Arthur Hayes) and Ava Labs Blizzard Fund, bringing total funding to $8 million.
Global Fintech Series16 January 2025
Term Labs launches Strategy Vaults and Meta Vaults on Ethereum and Avalanche following a one-month private beta that attracted $1.4 million in deposits.
Crypto Reporter28 April 2025
A misconfigured tETH oracle update triggers approximately 918 ETH ($1.6 million) in unintended liquidations. Term Finance attributes the incident to internal human error, not an exploit.
The Block30 April 2025
Term Finance recovers approximately 556 ETH (~$1 million) through internal asset capture and negotiation with liquidators. The remaining ~362 ETH shortfall is committed to be covered by the protocol treasury.
Cryptopolitan23 August 2026
Governance manipulation attack drains approximately 2,843 ETH and 1.68 million USDC (swapped to DAI) from Term Finance strategy vaults — approximately $8.5 million total. Attacker address 0xD5183d8BfC65a50863C62aF2538198A8288FFc13 is identified by CertiK and PeckShield. Initial attacker funding traced to 2 ETH from Tornado Cash.
BeInCrypto / CertiK / PeckShield23 August 2026
Term Labs acknowledges the governance exploit publicly via its X account. The team states the affected vaults are under active investigation and characterizes the incident as a governance issue rather than a smart contract vulnerability. No post-mortem or reimbursement plan is published.
Crypto BriefingDecision Log
- slot 445505190 · hash DAXk3K2zSyWHP9HX19WZwsAbZ3Xw2AZkU6GZCyZyAt3Z
- slot 443510643 · hash Fye2XfksbTN4G1XgHGADNdBUzWvVMoYwgqhNhQkRJ3h1
- slot 443510640 · hash G4HfYo8xvqiC5aVSpy1XJsquNKfbgmJRSVqjyB9rBSu3
- slot 443510016 · hash 727hc3NLmLUGyrsZrDvvNJpVN5E9figZXVqjRFsTyWy9
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 12 of 15 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/23/2026, 5:04:55 PM
last updated: 9/15/2026, 4:37:46 PM
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