Terraport Hacked With Many Controversial Suspicions

Key Points:

• Terraport was hacked, and all its liquidity was drained.
• The data shows that nearly $4 million worth of LUNC, USTC and TERRA tokens have been emptied.
• The community is speculating that this could be a hack or an elaborate Rug Pull scheme.

Terraport, a decentralized financial project launched by TerraCVita, an independent Terra Classic development team, has been hacked, and all of its liquidity has been depleted.

According to Terra Finder statistics, over $4 million in LUNC, USTC, and TERRA tokens were destroyed. In the first transaction, the attacker spent 9,148,426 TERRA and 15.1 billion LUNC, and in the second, he spent 576,736 TERRA and 5,487,381 USTC.

The Terraport smart contract now has 2.8 million LUNCs worth $362 in its possession. The TerraCVita and Terraport teams have not made any formal statements as of press time, fuelling concerns that this may be a hack or an elaborate Rug Pull operation.

Terraport raised eyebrows on April 8 when it disclosed that it had burnt around 100 million LUNC tokens without transaction evidence. The community expressed its worries, urging that the transactions be made public.

Classy Crypto, a TerraCVita core member, acknowledged the assault on Twitter but distanced himself from the occurrence, claiming that he received neither tokens nor compensation and that his loved ones lost thousands of dollars as a result of the crime.

He also erased all prior Terraport tweets and removed his TerraCVita link from his Twitter profile.

ReXx, a prominent Terra Classic forum member, said that part of the monies withdrawn to MEXC Global, totaling $124,000, were frozen by the exchange after an alert. He said that he is collaborating with other exchanges to freeze the remaining funds.

Terraport is a platform powered by the Terra Classic blockchain that contains a variety of DeFi solutions, the most important of which is the native DEX, which allows users to quickly trade tokens through an easy interface. It has been meticulously developed to properly use Terra Classic’s Layer1 characteristics, which are renowned to be quicker and more scalable than alternatives.

Terraport is powered by the TERRA token, which functions as a utility asset, and Decentralized Autonomous Organization (DAO) to delegate decision-making authority to its community.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

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