Incident Overview
On April 26, 2025, lending protocol Term Labs introduced an internal inconsistency in decimal precision during an update to the tETH oracle, resulting in incorrect pricing of the tETH asset within the protocol. This mispricing triggered unintended liquidations, affecting approximately 918 ETH. The incident stemmed from human error during a sensitive system upgrade — a failure in operational execution rather than a flaw in the code or smart contracts. Through rapid response and negotiation efforts, Term Labs successfully recovered around 556 ETH, reducing the final net protocol loss to 362 ETH (approximately $650,000).
Sources & References
This record presents information attributed to the linked sources. Incident dates describe the original event, not a new report. Reported loss figures reflect the source record and are not current market valuations.