The post Ethereum Lending Platform Term Finance Recovers $1 Million After Oracle Error – Coincu appeared on BitcoinEthereumNews.com.

Key Points: Term Finance faced a $1.6 million loss due to an oracle error, reclaiming over $1 million through recovery and negotiation. The loss resulted from an oracle vulnerability, not a hack. Remaining loss is approximately $650,000 in ETH. Term Finance, operating within the Ethereum ecosystem, experienced a loss of approximately $1.6 million in Ether (ETH) on Saturday due to a misconfigured oracle. The significance of this incident lies in its impact on Term Finance‘s fixed-rate lending market; the firm quickly recovered more than $1 million in ETH, underscoring the importance of secure oracle configurations. Term Finance Recovers $1 Million After Oracle Mishap Term Finance, led by Anthony Bassili, initially faced an estimated loss of $1.6 million due to a vulnerable oracle. The organization confirmed the issue was not due to a hacker attack or smart contract flaw. “The loss was caused by an oracle vulnerability, not a hacker attack or smart contract exploitation, and user funds were not directly locked,” revealed the leadership team at Term Finance, emphasizing the nature of the incident. A focused recovery effort yielded over $1 million, with 223.197 ETH recovered internally and 333 ETH through negotiation. Following recovery strides, Term Finance reduced remaining losses to about $650,000. The incident did not involve a reduction in Total Value Locked (TVL) or place user funds at risk. Community and industry figures have remained largely silent. No major statements were posted from key opinion leaders within the crypto community regarding the oracle vulnerability, and Term Finance has made limited public commentary. Ethereum Market Volatility Amid Crypto Security Concerns Did you know? In April 2025, another DeFi platform, KiloEx, lost $7 million due to a similar oracle-related vulnerability, illustrating the recurring risks in the ecosystem. Ethereum, trading at $1,791.49 with a market dominance of 7.35%, saw a recent…

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Filed under: News - @ April 27, 2025 11:27 pm