Terraport, a recently launched Terra Classic-based DeFi platform developed by TerraCVita, has been hacked and all of its liquidity has been drained. Terra Finder data shows almost $4 mln worth of Terra Classic (LUNC), TerraClassicUSD (USTC) and TERRA were drained. LUNC DAO, the renowned Terra Classic validator, drew attention to the unfortunate development today by sharing two transactions suggesting the protocol has drained all of its liquidity in LUNC, USTC and TERRA.
The first transaction shows the withdrawal of 9.1 mln TERRA worth about $1.8 mln and 15.1bln LUNC tokens worth $1.88 mln. All of these funds were withdrawn from the protocol's liquidity. The second transaction shows withdrawals of 576,736 TERRAs worth about $115,000 and 5.48 mln USTC, currently valued at $117,000.
ReXx, a prominent member of the Terra Classic community, revealed that a $124,000 portion of funds withdrawn to MEXC Global was frozen by the exchange following a warning. ReXx noted that it is working with other exchanges to freeze the remaining assets. RexX indicated that he had previously paid attention to the project's codebase, noting that they should pay for an audit from Certik. However, these calls were rejected. Community members questioned why the project was rolled out without a proper Certik audit.
