Another Defi Company Becomes Victim Of Hack

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Team Finance announced that it suffered a $14.5 million exploit in relation to a smart contract bug in its migration feature.

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Tokens were exploited through the audited v2 to v3 migration function.

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Team Finance urged the exploiter to get in contact for a bug bounty payment.

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Team Finance is a DeFi platform that helps other projects lock their liquidity.

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According to PeckShield, the attacker targeted the liquidity tokens under Team Finance’s custody.

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The attacker’s wallet address still holds the proceeds from the exploit which includes $6.43 million in DAI stablecoin and 880 ETH.

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Team Finance has temporarily suspended all activity through Team Finance until it confirms that this exploit has been fixed.

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