Term Finance lost approximately 1.6 million dollars due to an oracle configuration error, and has currently recovered over one million dollars

ChainCatcher news, according to official sources, the Ethereum fixed-rate lending protocol Term Finance has suffered a loss of approximately 1.6 million USD in ETH due to an oracle configuration error. The team stated that through internal capture and negotiation, over 1 million USD has been recovered, and the remaining deficit will be covered by the protocol's treasury, with plans to release a detailed review report.

Term emphasized, "This is not a hack; no smart contracts were exploited, and user funds were not directly targeted."