Term Labs exploited for $8.5M through governance vulnerability

ALERT: Term Labs has been exploited for roughly $8.5 million through a governance vulnerability affecting Term vaults.
The attacker drained approximately 2,843 ETH worth $6.87 million and another 1.68 million USDC, according to PeckShield.
The exploit wallet was reportedly initially funded through Tornado Cash.
Term Labs has confirmed the incident, adding another major DeFi security event to watch as investigators track the stolen funds on-chain.