Terraport, a decentralized finance (DeFi) project independently developed by the Terra Classic team under TerraCVita, was reported to have been hacked, causing all its liquidity to be exhausted. According to Terra Finder data, nearly $4 million worth of tokens such as LUNC, USTC, and TERRA have been emptied.
The attacker withdrew 9,148,426 TERRA and 15.1 billion LUNC in the first transaction, and 576,736 TERRA and 5,487,381 USTC in the second transaction. Currently, the Terraport smart contract holds 2.8 million LUNC tokens worth $362.
At the time of the report, neither TerraCVita nor the Terraport team had made any official statements, leading to speculation that this could be a cyber attack or an elaborate rug pull scheme.
Classy Crypto, a core member of the TerraCVita team, confirmed the attack on Twitter but distanced himself from the incident, stating that he has not received any tokens or compensation, and that his relatives have lost thousands of dollars as a result of the incident. He also deleted all previous Terraport-related tweets and removed any connection to TerraCVita from his Twitter bio.
The attack on Terraport has raised concerns about the security and reliability of DeFi projects in the cryptocurrency ecosystem. As the popularity of DeFi continues to grow, ensuring robust security measures and transparent communication with the community becomes critical.
Investors and users are reminded to exercise caution and conduct thorough research before participating in any DeFi project in order to mitigate the risks associated with cyber-attacks and potential financial losses.
As the investigation into the Terraport attack continues, the cryptocurrency community awaits further updates from the TerraCVita and Terraport teams to clarify the nature of the incident and provide guidance to affected users.
At the same time, it serves as a stark reminder of the changing threat landscape in the cryptocurrency space and the need for constant vigilance against cyberattacks.