Team Finance, the token launchpad platform, suffered $14.5 million in damages from a Smart Contract vulnerability in its migration feature, the company said Thursday.
The platform has paused all activities. After the vulnerabilitysayIn the tweet, it also urged the attackers to contact them to claim the bug bounty.
This vulnerability is related to a bug in the migration function version 2 to v3 that has been audited.
The assets taken away include USD Coin, CAW, TSUKA, and KNDA, and since the liquidity pool was “migrated” to Uniswap v3, some of the affected tokens, such as CAW, were affected.fromgreatly reduced price from the liquidity crisis that followed.
The development team has temporarily stopped all activities on the protocol. It claims that all funds on the platform are not at risk of further attack. Team Finance was founded in 2020 and has parent company TrustSwap to provide token liquidity locking and vesting services to project managers. The protocol claims to have $3 billion in 12 blockchains.
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