Ethereum lending app Term Finance loses $8.5 million after attacker buys voting power

The exploit shows how lightly held voting tokens can become a means of attack when control of a protocol is cheaper than the assets it governs.

The top 3

  1. Largest Confirmed Crypto Exchange Hack: Bybit: The Bybit hack in February 2025 is the largest publicly confirmed crypto hack, with approximately $1.5 billion in virtual assets stolen due to a private key leak in its hot wallet system.
  2. Largest DeFi Bridge Hack: Ronin Network: The Ronin Network, supporting Axie Infinity, suffered the largest DeFi hack in March 2022, losing an estimated $625 million in Ethereum and USDC after attackers compromised validator nodes.
  3. Largest DeFi Protocol Exploit: Poly Network: In August 2021, Poly Network experienced an exploit where a hacker stole over $610 million in funds, although most of the stolen assets were later returned by the attacker.

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