A DeFi project called Terraport Finance was recently targeted by hackers, resulting in the theft of 9.5 million TERRA, 15 billion LUNC, and 5.5 million USTC tokens, totaling $4 million.
The team behind Terraport Finance took to Twitter to inform its community of the breach and that they are actively working on resolving the issue and securing the protocol.
They assured users that they are collaborating with exchanges and community members to identify and blacklist the wallets involved in the attack, and that all funds are being tracked.
The team has also requested Binance and MEXC Global to freeze the stolen crypto assets, as the hackers sent them to these exchanges.
Terraport Finance was launched by TerraCVita development team in March 2023 to revive the Terra Luna Classic network.
It provides users with a platform to exchange three tokens: Terra Classic (LUNC), TerraClassicUSD (USTC), and TERRA.
The hack has caused significant dissatisfaction among the Terra Luna Classic community, with some members accusing the Terraport team of not conducting an audit of the platform before its launch.
In January, Terraport Finance secured $2 million in funding and was able to burn 100 million LUNC tokens within the first week.
This unfortunate event is yet another reminder of the risks associated with DeFi projects.
In a similar incident, the decentralized exchange SushiSwap was also hacked, resulting in hackers stealing over $3.3 million using a vulnerability in the RouteProcessor2 trade routing smart contract.