Terra Luna Classic’s DeFi Project Terraport Finance Hacked! 15 Billion LUNC Tokens Stolen in Massive Breach

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Luna Classic's Terraport Hacked!

Terra Luna Classic is a public decentralized protocol that powers , an algorithmic pegged to the . However, one of its most popular DeFi , Terraport Finance, was hacked on April 10, , and 15 billion LUNC were stolen. 😱

What happened to Terraport Finance?

Terraport Finance is a built by a group called TerraCVita, with the aim of reviving the Terra Luna Classic network and increasing the LUNC burn rate. The platform allows to swap among three tokens: Terra Classic (LUNC), TerraClassicUSD (USTC), and TERRA. It also offers and farming for its users. 🚀

However, on April 10, 2023, Terraport Finance announced that it had detected a breach in its Terraport Liquidity , and that all of its liquidity was drained by a hacker. The hacker withdrew nearly 9.5 million TERRA, 15 billion LUNC, and 5.5 million USTC tokens from the platform, and transferred them to Binance and MEXC Global . 😨

How did the team and the react?

The Terraport team said that they were working to resolve the issue and secure the protocol, and that they would release an official press release later. They also asked Binance and MEXC Global to freeze the immediately, as they were worth millions of dollars. 🙏

Binance CZ responded to their request by asking them to submit a CS case as soon as possible, saying that it was faster than going through him. He also said that he did not know which account or address was involved, and that he was a “slow middle man”. 🐢

The Terra Luna Classic community and influencers expressed their dissatisfaction and disappointment with the hack, saying that it was a major setback for the project and its reputation. Some of them also blamed the Terraport team for not auditing the platform before launching it, and for ignoring the advice of LUNCDAO, a decentralized autonomous organization that governs LUNC. 😡

What are the implications of this hack?

This hack is a serious blow to the Terra Luna Classic , as it undermines its credibility and . It also affects the and of LUNC, which is already struggling to recover from its previous lows. LUNC is currently at $0.000125 USD, down by 0.88% in the last 24 hours. 😢

This hack also shows the and challenges of DeFi platforms, which are often vulnerable to exploits and attacks due to their complex and lack of . Users should always do their own research and due diligence before in any DeFi project, and be aware of the potential losses they may incur. 😓

What is the of Terra Luna Classic and Terraport Finance?

Terra Luna Classic is still a promising project that aims to bring DeFi to the real with its fast, cheap, and scalable . Its and validation designs help to improve transaction throughput and security. It also has a loyal and passionate community that supports its vision and mission. 😍

Terraport Finance is still a new platform that has just launched in March 2023, after raising $2 million in funding. It has a lot of potential to grow and innovate in the DeFi space, with its unique features and incentives for LUNC holders. It also has a that outlines its future plans and goals. 😎

However, both projects need to overcome this hack and restore their and confidence among their users and investors. They need to improve their security measures and transparency, and address any issues or concerns that may arise. They also need to deliver on their promises and expectations, and prove their value and utility in the . 🙌

Sources: Terra Luna Classic'in DeFi projesi Terraport Finance hacklendi!, LUNC News: Major Terra Luna Classic Burn Project Terraport Hacked, CZ Binance on Twitter, Terra Luna Classic (LUNC) Price Prediction – 2023, 2025, 2030

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