Term Labs Confirms Restoration of Fixed-Rate Loan Positions Following Security Incident

Term Labs released a technical report confirming that all fixed-rate loan positions in affected vaults were restored on August 25. The incident was limited to liquidity balances within Term vaults, while Term V1 and V2 contracts remained secure and direct lending markets stayed open. Between August 17 and 18, an attacker used Tornado Cash to fund wallets and submitted a malicious governance proposal to eliminate delay parameters and bypass LP change restrictions. On August 23, the attacker drained assets from ETH and USDC strategies. Term Labs is currently