According to CoinMeta, Term Finance announced that due to an attack worth approximately 8.5 million US dollars, it has permanently shut down all its Meta Vaults and revoked the relevant DAO governance permissions. In an update on August 23, Term Labs stated that all Meta Vaults have been closed, and users are no longer able to make new deposits, but existing depositors can still submit withdrawal requests. This incident involved a governance vulnerability, and hackers extracted approximately 2,843 Ether and 1.68 million US dollars in stablecoins from the affected Vaults. Blockchain security company PeckShield estimates the loss to be around 8.5 million US dollars. Term Labs has not yet disclosed the remaining assets in Vaults or the amount that each depositor can withdraw, nor has it revealed whether they have contacted the hackers or law enforcement authorities.