Hacker uses $2,700 to drain $15.8 million from Team Finance
Team Finance has suffered a malicious exploit with the attacker draining $15.8 million worth of tokens from the protocol. Team Finance is a DeFi platform that helps other projects lock their liquidity. This is done to reduce the risk of what's known as rug pulling — where a project's liquidity is withdrawn, causing the value of the token to crash.
Today’s attacker targeted the liquidity tokens under Team Finance’s custody, according to PeckShield. The attack affected four projects, namely CAW (A Hunters Dream), Dejitaru Tsuka, Kondux, and Feg. CAW was the most impacted in the incident with the attacker removing $11.5 million worth of its liquidity tokens. The attacker used 1.76 ether ($2,700) to launch the attack, PeckShield noted. The attacker’s wallet address still holds the proceeds from the exploit, including $6.43 million in the DAI stablecoin and 880 ETH ($1.36 million).
Source
https://t.me/CryptoMarketUpdates
