The algorithmic stablecoin TerraUSD (UST) collapsed almost one year ago, but some Terra-related projects are still live and trying to overcome some issues. Terraport Finance, a decentralized finance (DeFi) exchange project based on the Terra Classic blockchain, suffered a breach on its liquidity wallet on April 10. Announcing the news on Twitter, Terraport said the hacker had drained all liquidity pools from the platform, causing losses of about $2 million worth of digital assets. “We are currently working with community members and major exchanges to secure as many of these funds as possible and blacklist wallets. All funds have been tracked,” Terraport stated. According to social media reports, the Terraport hacker has allegedly transferred the stolen funds to exchanges like Binance and MEXC Global. The investigators have urged the exchange’s security teams to freeze the assets as soon as possible. While Terraport has been investigating the security issue and preparing an incident report, many online crypto enthusiasts have stood up to criticize the rushed launch of Terraport.
Full story : Terra DeFi project Terraport suffers $2M hack days after launch.
