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News Explorer — DeFi Project Terraport Finance Hacked for $2M

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Apr 11, 6:35 am

Unchained Crypto

DeFi Project Terraport Finance Hacked for $2M

Terraport, a newly launched DeFi platform on Terra Classic, was hacked and all liquidity pools were drained. The team tracked the stolen funds and is working with major exchanges to freeze assets associated with the hacker’s address. Data shows that the hacker withdrew a total of 9.7 million of Terraport’s native token TERRA, 15 billion LUNC and 5.5 million of the algorithmic stablecoin USTC. Suspicious changes to the code of three key smart contracts were made a few hours before the DEX was drained.

Terraport, a newly launched DeFi platform on Terra Classic, was hacked and all liquidity pools were drained. The team tracked the stolen funds and is working with major exchanges to freeze assets associated with the hacker’s address. Data shows that the hacker withdrew a total of 9.7 million of Terraport’s native token TERRA, 15 billion LUNC and 5.5 million of the algorithmic stablecoin USTC. Suspicious changes to the code of three key smart contracts were made a few hours before the DEX was drained.

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