'Term Finance Recovers $1 Million of Ethereum from $1.6 Million Loss'

Uk Jin

Summary

Term Finance reported that it recovered $1 million of Ethereum from the $1.6 million loss caused by an oracle configuration error.
The recovery amount was achieved through internal recovery and return negotiations.
Term Finance emphasized that the incident was due to a bug in the oracle update and unrelated to hacking.

Lending protocol Term Finance, which suffered a massive loss of Ethereum (ETH) due to an oracle configuration error, has reportedly succeeded in partial recovery.

According to crypto media outlet The Block on the 27th (local time), Term Finance announced on X (formerly Twitter) that "out of the existing $1.6 million (918 ETH) loss, $400,000 (223.197 ETH) was internally recovered, and $600,000 (333 ETH) was successfully negotiated for return."

Term Finance stated, "This issue was caused by an oracle update bug," distancing themselves from hacking allegations.

ETH

Uk Jin

wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.

'Term Finance Recovers $1 Million of Ethereum from $1.6 Million Loss'

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