Term Labs updates on the progress of the attack: Meta Vault has been closed and governance authority revoked

On 24 August, DeFi updated the progress of the attack on Term Labs, whose disclosure affected the governance mechanisms of the Term Vault Treasury, rather than the bottom Term Agreement and its direct lending market, and now closed all Meta Vault Treasury and removed the governance authority of DAO to prevent further inflows, and this closure would be irreversible and would permanently prevent new deposits from entering. The off-the-shelf functionality remains open and is working with external security teams on rehabilitation and recovery; where funding gaps are identified, solutions will be explored. Term Labs reminds users to focus only on information published in official accounts and to guard against fraud by impostors. Previously, Term Labs lost approximately $8.5 million in governance attacks。