On-chain data shows that four projects affected in the attack received the stolen tokens over the weekend. Source
Attacker Behind $14.5M Team Finance Exploit Returns $7M
Tag: 14.5M
Team Finance exploited for $14.5M during protocol migration despite contract audit
On Thursday, decentralized finance, or DeFi, lockup protocol Team Finance said over $14.5 million worth of tokens were exploited though the Uniswap V2 to V3 migration function on its platform. As told by blockchain security firm PeckShield, the hacker transferred liquidity from Uniswap V2 assets on Team Finance to an attacker-controlled V3 pair with skewed pricing. By locking tokens to the contract, the attacker bypassed existing validation mechanisms and pocketed the huge leftovers as refund for profit. Uniswap V3 was designed with better efficiency for liquidity providers (LP) than V2…
Crypto Launchpad Team Finance Suffers $14.5M Exploit
Team Finance, a crypto token launchpad, has suffered a $14.5 million exploit in relation to a smart contract bug in its migration feature. Source