Terraport’s liquidity wallet hack occurred just 10 days after the platform’s launch. A developer group, TerraCVita, has created his DeFi platform that powers the Terra Luna Classic ecosystem by increasing the burn rate of the network’s native token, LUNC.
Terraport Finance allows users to exchange Terra and UST tokens for LUNC. The LUNC is then burned. The platform has burned 100 million of his LUNC tokens in his first week since launch.
The exact amount of lost LUNC and USTC tokens has not yet been revealed.
Crypto exchanges requested to monitor funds
After the Terraport Finance hack, a Twitter user named Rajia Bibi contacted Binance CEO Changpeng Zhao (CZ) within minutes of the incident. demanding Its Binance will freeze any funds stolen from Teraport that may have been deposited on its platform.
The user also submitted a similar request to crypto trading platform MEXC Global. In response, CZ suggested that since Bibi is a “slow middleman,” it would be more efficient to contact the appropriate his Binance team directly.
Our team confirmed the transaction. According to our analysis, no funds have been deposited on Binance. Some of the hacked funds were deposited into MEXC and KuCoin. There is not much you can do here.
— CZ🔶 Binance (@cz_binance) April 10, 2023
Some of the stolen funds were deposited on cryptocurrency exchanges KuCoin and MEXC, but CZ also revealed that nothing was found on Binance.