Ethereum Lending Protocol Term Finance Faces Oracle Configuration Error

According to Foresight News, Ethereum's fixed-rate lending protocol, Term Finance, experienced a loss of approximately $1.6 million in ETH due to an oracle configuration error. The team has managed to recover over $1 million through internal measures and negotiations. The remaining deficit will be covered by the protocol's treasury, and a detailed report on the incident is planned for release. Term Finance emphasized that this was not a hack, no smart contracts were exploited, and user funds were not directly targeted. On the same day, the DeFi protocol Impermax Finance suffered a flash loan attack, resulting in losses exceeding $150,000.