DeFi Protocol Terraport Finance Suffers Hack Ten Days After Launch
Main page News, Hacker Attack, DeFi
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April 11, 2023

Terraport Finance, a DeFi protocol based on the Terra Classic network, has lost $2 million as a result of a hack ten days after its official launch.

The developers of the project have reported the attacker has exploited a vulnerability in the liquidity wallet.

According to the network's data, Terraport has lost about 9.7 million TERRA, 15.1 million LUNC and 5.5 million USTC.

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Last March 31, the TerraCVita development team launched Terraport Finance. The protocol allows users to exchange LUNA and USTC tokens for LUNC and then burn them. In the first week of the project's existence, a total of more than 100 million coins were destroyed.

A Twitter user asked Binance CEO Changpeng Zhao to freeze the stolen funds.

He advised writing directly to the security service, but then said that the Terraport funds did not reach the platform.

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