Morning Edition · Monday, August 31, 2026Published at 1:50 AM EDT · New York

Three Exploits in Nine Days Took Roughly $10.4 Million Through Governance, Liquidation Math and a Card Program

None of the three attacks required a broken contract: one attacker bought voting control for about 0.5 ether, another manipulated how a lender books liquidation remainders, and a third drained a neobank's card system.

Beyond the Cronos incident, three smaller attacks in the past nine days share a common feature: the code did what it was written to do. Term Labs lost about $8.5 million on 23 August, roughly 2,843 ether and 1.68 million USDC, when an attac…