Term Finance suffered a loss of $1.6 million due to a configuration error in its oracle, and has recovered over a million dollars

According to Golden Finance, the Ethereum fixed rate lending protocol Term Finance suffered a loss of approximately $1.6 million in ETH due to a configuration error in the oracle. The team stated that through internal capture and negotiation, over $1 million in funds have been recovered, and the remaining shortfall will be covered by the agreement treasury, with plans to release a detailed review report. Term emphasized that "this is not a hacker attack, no smart contracts have been utilized, and user funds have not been directly targeted." On the same day, the DeFi protocol Impermax Finance also suffered a lightning loan attack, with losses exceeding $150000.