1 year ago
The idiosyncratic who exploited the protocol intends to support a 10% bounty of the stolen funds.
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Four projects person received immoderate $7 cardinal worthy of tokens from the hacker down the $14.5 cardinal Team Finance exploit connected Oct. 27. Over the weekend, the attacker confirmed successful a bid of messages that they would support 10% of the stolen money arsenic a bounty and instrumentality the different tokens to the affected projects.
The exploiter — a self-described “whitehat” — drained assets from Team Finance done the Uniswap v2-to-v3 migration. As reported by Cointelegraph, liquidity from Uniswap v2 assets connected Team Finance were transferred to an attacker-controlled v3 brace with skewed pricing, explained the blockchain information steadfast PeckShield.
The stolen funds included USD Coin (USDC), CAW, TSUKA and KNDA tokens. Some of the affected tokens, specified arsenic CAW, suffered steep terms declines owed to the exploit and consequent liquidity crunch.
On Oct. 30, Kondux, a nonfungible token (NFT) marketplace, announced it received 95% of the stolen funds, oregon 209 Ether (ETH), portion Feg Token recovered 548 ETH. Tsuka’s blockchain protocol also confirmed receiving implicit $765,000 worthy of the stablecoin Dai (DAI) and 11.8 cardinal TSUKA. Caw Coin — the biggest unfortunate of the exploit — received backmost $5 cardinal worthy of DAI and 74.6 cardinal of its autochthonal token, CAW.
We're thrilled to denote we person received 95% of the exploited ETH back!
Please carnivore with america successful the coming 48 hours ⏳ arsenic we await the $KNDX to instrumentality truthful we tin program our adjacent determination forward. ⏩
Massive acknowledgment to the assemblage for their unwavering enactment $FEG $CAW $TSUKA
On Twitter, the protocol urged the hacker to get successful interaction for a bounty payment. According to Team Finance, its astute declaration had been antecedently audited, and developers had temporarily halted each enactment connected the protocol. The institution was founded successful 2020 by TrustSwap, which provides token liquidity locking and vesting services to task executives. The protocol claimed to person $3 cardinal secured crossed 12 blockchains.
The exploit followed the Mango Markets attack connected Oct. 11, erstwhile a hacker manipulated the worth of the platform’s autochthonal token, MNGO, to execute higher prices. The attacker past took retired important loans against the inflated collateral, draining Mango’s treasury.
After a connection connected Mango’s governance forum was approved, the hacker was allowed to support $47 million arsenic a “bug bounty,” portion $67 cardinal was sent backmost to the treasury.
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