Term Finance Shuts Meta Vaults After $8.5M Exploit

The permanent closure of the Meta Vaults, rather than a pause, signals the team sees no viable path to restoring them — a notable choice for a protocol that has not yet quantified what remains. That gap matters most for depositors still in the withdrawal queue: whether withdrawals can be met in full is the open question, and it will shape how the market reads similar vault structures elsewhere. The absence of a stated shortfall remedy leaves the recovery path, not the exploit itself, as the thing to watch.