Team Finance suffered a huge loss of $14.5 million, including the FEG liquidity. According to the on-chain data, the affected areas in the exploit had recovered all the stolen funds leaving the 10% bounty token for the hacker.
Feed Every Gorilla Token (FEG) serves as a blockchain platform operating on the Binance Smart Chain (BSC) and Ethereum (ETH). It provides a decentralized transaction network that creates opportunities in the crypto territory. A few days ago, a crypto launchpad, Team Finance, suffered an exploit of $14.5 million via a smart contract bug in its new migration feature.
The price of FEG Token got picked up after the project claimed 548 ETH in liquidity lost during its exploit of the Team Token protocol.
As per the reports, the hacker behind last week’s exploit has returned around $7 million. Recently, FEG’s worth has increased to 11%, bringing the value back near the price level during the exploit. The projects that lost their funds in exploitation also got the bounty alternative to recover their liquidity, along with Tsuka, Kondux, and CAW.
The attacker had given the deposit addresses of all affected projects via different blockchain messages, which proved irrational until now. Still, the attacker demanded to keep a bounty of 10% of the stolen funds.
Source: https://www.cryptonewsz.com/feg-recovers-90-percent-liquidity-after-team-finance-exploit/