The hack on Terraport’s liquidity wallet occurred just 10 days after the platform’s launch. TerraCVita, a developer group, created the DeFi platform to boost the Terra Luna Classic ecosystem by increasing the burn rate of LUNC, the native token of the network.
Terraport Finance enables users to exchange their Terra and UST tokens for LUNC, which is then burnt. The platform burned 100 million LUNC tokens within the first week of its launch.
The exact value of the LUNC and USTC tokens lost has not been disclosed yet.
Crypto exchanges requested to monitor funds
Following the Terraport Finance hack, a Twitter user named Rajia Bibi reached out to Binance CEO Changpeng Zhao (CZ) within minutes of the incident, requesting that Binance freeze any funds stolen from Terraport that may have been deposited on its platform.
The user also contacted the crypto trading platform MEXC Global with a similar request. In response, CZ suggested it would be more efficient for Bibi to contact the appropriate Binance team directly, as he was a “slow middleman.”
Our team reviewed the transactions. Our analysis shows no funds were deposited in Binance. Some of the hacked funds was deposited to MEXC and KuCoin. Not much we can do here.
— CZ 🔶 Binance (@cz_binance) April 10, 2023
Although some stolen funds had been deposited at crypto exchanges KuCoin and MEXC, CZ also disclosed that none had been found on Binance.
Source: https://cryptoslate.com/terraport-finance-hacked-for-2m-just-10-days-after-launch/