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Morning Edition · Sunday, September 6, 2026Published at 2:01 AM EDT · New York
Term Labs Lost $8.5 Million to a Voter, Not a Bug, as Compound Debates Emergency Powers
The attacker bought enough voting power to control four lending vaults and about 91% of an ether meta vault, then passed proposals instructing them to release funds.
Governance is now an attack surface, and attackers can calculate exactly what it costs to buy control. On 23 August an attacker took roughly $8.5 million from Term Labs vaults without breaking a single contract. The wallet accumulated enoug…
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DeFi Reinstalls Central Controls After Governance Attacks
Repeated governance captures push protocols to re-add guardian pauses, upgrade keys and revocable roles, so the practical trend in DeFi runs toward accountable central control rather than away from it, and the decentralization premium in token valuations narrows.
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- Zcash Trades Above $1,000 as Grayscale's Spot Fund Passes $400 Million in Assets
- Miden Builds Its Private Finance Pitch on a Circle-Issued Dollar Token
- Fed Staff Say the Same Dollar Behind a Stablecoin Can Be Counted Twice in the Money Supply
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