How Was Terraport Finance Hacked?
Contents
Learn how Terraport Finance was hacked, resulting in the loss of approximately $3.9 million.
TL;DR
On April 10, 2023, Terraport Finance was hacked, resulting in the loss of approximately 15 billion $LUNC tokens, 9.7 million $TERRA tokens, and 5.5 million $USTC tokens, totaling approximately $3.9 million.
Introduction to Terraport Finance
Terraport Finance is a DeFi platform on Terra Classic Network.
Vulnerability Assessment
The root cause of the exploit is unknown at the moment; however, the team stated that the `breach was detected` in the Terraport Liquidity wallet.
Steps
Step 1:
In the first attack transaction, the attacker drained approximately 9,148,426 $TERRA tokens worth approximately $1.18 million, and 15.1 billion $LUNC tokens, worth $1.88 million.
Step 2:
In the second attack transaction, the attacker drained approximately 576,736 $TERRA tokens worth approximately $115K, and 5,487,381 USTC tokens, worth $117K, totaling approximately $3.9 million worth of stolen funds.
Aftermath
Changpeng Zhao, CEO of Binance, confirmed that their team reviewed the hacked transactions and discovered that no …
TL;DR
On April 10, 2023, Terraport Finance was hacked, resulting in the loss of approximately 15 billion $LUNC tokens, 9.7 million $TERRA tokens, and 5.5 million $USTC tokens, totaling approximately $3.9 million.
Introduction to Terraport Finance
Terraport Finance is a DeFi platform on Terra Classic Network.
Vulnerability Assessment
The root cause of the exploit is unknown at the moment; however, the team stated that the `breach was detected` in the Terraport Liquidity wallet.
Steps
Step 1:
In the first attack transaction, the attacker drained approximately 9,148,426 $TERRA tokens worth approximately $1.18 million, and 15.1 billion $LUNC tokens, worth $1.88 million.
Step 2:
In the second attack transaction, the attacker drained approximately 576,736 $TERRA tokens worth approximately $115K, and 5,487,381 USTC tokens, worth $117K, totaling approximately $3.9 million worth of stolen funds.
Aftermath
Changpeng Zhao, CEO of Binance, confirmed that their team reviewed the hacked transactions and discovered that no …