🌳 tETH & all Related Vaults are Secured (SAFU)

Treehouse’s monitoring systems detected abnormal activity involving tETH pools through Hypernative alerts.

Upon investigation, it was identified that an incident occurred on Term Finance’s tETH pool, stemming from an isolated oracle configuration issue.

Approximately 570 tETH were liquidated from @term_labs pool during this incident.

Treehouse’s vaults and user funds were not impacted and remain fully secure (SAFU).

🌳 Clarifications

No Treehouse (tETH) smart contracts were exploited.

No Treehouse (tETH) user funds were directly targeted.

This event stemmed from a misconfiguration from Term Finance and is not a security breach of Treehouse systems.

Term Finance has taken full responsibility and is implementing a reimbursement plan for affected users.

All operations across Treehouse continue business as usual.

🌳 Actions Taken by Treehouse

Treehouse promptly activated its internal incident response procedures upon detecting abnormal activity.

We identified the suspected attacker's wallet address through two suspicious transactions.

As a precautionary measure, we also proactively secured and temporarily emptied our Redemption Vaults to prevent unauthorized fast redemptions by the attacker.

🌳 Impact on Treehouse

All Treehouse user funds remain fully SAFU.

While assets from the tETH Redemption Vault were previously transferred as a precautionary measure, redemption functions have since been fully restored and are now back in full operation.

All tETH-related operations and vaults are running normally with enhanced monitoring in place during this period.

🌳 Our Commitment to the Community

Today's events underline the importance of Treehouse's proactive emphasis on security, monitoring, and rapid response systems.

The swift and effective activation of our team demonstrates our commitment to safeguarding the platform and our users.

We continue to closely monitor the situation and will keep everyone updated.

Thank you for your continued trust and support.