Earlier today, Terraport’s liquidity pool was hacked for over $2 million, leading to its community members urging crypto exchanges to freeze the funds if they are sent to their platform.
Terraport confirmed that its liquidity pool was exploited for an undisclosed sum. The DeFi platform said it was “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.”
The project said it would issue a press release detailing the incident soon.
“We should’ve audited Terraport before launch like LUNCDAO had said. We should’ve listened.”
Terraport community agitations got a response from Binance CEO Changpeng ‘CZ’ Zhao, who advised them to file their case through appropriate channels on the platform.
CZ later added that a review of the transactions showed that the stolen funds were sent to KuCoin and MEXC.
In response, MEXC said:
“[It] has always acted fast in fighting evil. We have long cooperated with other exchanges to jointly fight against illegal behaviors and promote the sound development of the industry.”
KuCoin CEO Lyu Johnny also said his exchange was taking actions to protect users and will continue to do so.
Meanwhile, the hack has not impacted LUNC’s price, which is currently trading at $0.00012369 after dropping by 1.4% in the last 24 hours.
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