DeFi & Smart Contract Security26 August 2026
Term Finance's $8.5M Governance Takeover: When a Timelock Doesn't Trigger
An attacker bought up Term Finance's thinly-held governance token and voted itself control of the protocol's vaults, draining roughly 68% of assets — with the on-paper timelock and veto safeguards never firing.
defi-securitygovernance-attacksmart-contracts
4 min readRead
Web3 & Smart-Contract Security15 August 2026
BonkDAO's $20M Governance Attack: The Contracts Worked Exactly as Coded
An attacker spent roughly $4.4M buying BONK to clear a 1% quorum, then pushed a malicious treasury proposal through a near-empty vote — no exploit, no bug, just governance math.
dao-securitygovernance-attackdefi
4 min readRead