{"id":39071,"date":"2022-10-31T15:29:22","date_gmt":"2022-10-31T19:29:22","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=39071"},"modified":"2022-11-13T15:33:40","modified_gmt":"2022-11-13T19:33:40","slug":"team-finance-hacker-returns-7m-to-projects-after-exploit","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/team-finance-hacker-returns-7m-to-projects-after-exploit\/","title":{"rendered":"Team Finance Hacker Returns $7M To Projects After Exploit"},"content":{"rendered":"\n
The hacker who was responsible for the $14.5 million Team Finance attack. The individual intends to keep a 10% bounty of the stolen funds.<\/h5>\n\n\n\n
\"Team
Team Finance Hacker Returns $7M To Projects After Exploit<\/figcaption><\/figure>\n\n\n\n

The attacker indicated over the weekend in a string of messages that they would retain 10% of the stolen funds as a bounty and give the remaining tokens back to the impacted projects. Through the Uniswap v2-to-v3 conversion, the exploiter\u2014a self-described “whitehat”\u2014stole resources from Team Finance. According to a report, the blockchain security company<\/a> PeckShield revealed that liquidity from Uniswap v2 assets on Team Finance was transferred to an attacker-controlled v3 pair with skewed pricing.<\/p>\n\n\n\n

USD Coin ($USDC $1.00), CAW, TSUKA, and KNDA tokens were among the stolen money. Due to the exploit and ensuing liquidity\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> crisis, several of the affected tokens, including CAW, experienced significant price drops. On October 30, Kondux, a nonfungible token (NFT) marketplace, declared that it had recovered 548 ETH, or 95% of the stolen money, which amounted to 209 Ether (ETH $1,571). Tsuka's blockchain protocol also confirmed receiving over $ 765, 000 worth of the stablecoin<\/a> Dai ( Dai $ 1. 00) and 11.8 million Tsuka. The largest victim of the exploit, Caw Coin, earned back $5 million in DAI as well as 74.6 billion of its native CAW coin. <\/p>\n\n\n\n

\n

We're thrilled to announce we have received 95% of the exploited ETH back!

Please bear with us in the coming 48 hours \u23f3 as we await the $KNDX<\/use><\/svg><\/span><\/a> to return so we can plan our next move forward. \u23e9 \ud83d\udc2e

Massive thanks to the community for their unwavering support \ud83d\udc96$FEG<\/use><\/svg><\/span><\/a> $CAW<\/use><\/svg><\/span><\/a> $TSUKA<\/use><\/svg><\/span><\/a><\/p>— Kondux (@Kondux_KNDX) October 30, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

The protocol advised the hacker to get in touch for a reward payout on Twitter. Team Finance claimed that its smart contract had previously been inspected and that protocol developers had momentarily <\/use><\/svg><\/span><\/a>suspended all activities. TrustSwap, a startup that offers project leaders token liquidity lockup and vesting services, established the business in 2020.<\/p>\n\n\n\n

According to the protocol, $3 billion was safely stored on 12 different blockchains. The exploit came after the Mango Markets attack on October 11 when a hacker increased the price of MNGO<\/a>, the platform's native token. The assailant subsequently borrowed a sizable sum against the falsified collateral, depleting Mango's funds. The hacker was permitted to keep $47 million as a “bug bounty” after a proposal on Mango's governance forum was approved, and $67 million was paid back to the treasury.<\/p>\n","protected":false},"excerpt":{"rendered":"

The hacker who was responsible for the $14.5 million Team Finance attack. The individual intends to keep a 10% bounty of the stolen funds. The attacker indicated over the weekend in a string of messages that they would retain 10% of the stolen funds as a bounty and give the remaining tokens back to the […]<\/p>\n","protected":false},"author":43,"featured_media":39075,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11476],"tags":[1612,197,2118],"class_list":["post-39071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hacks-and-scams","tag-altcoins","tag-defi","tag-hacker"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/10\/jpg_20221031_200215_0000.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/39071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=39071"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/39071\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/39075"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=39071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=39071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=39071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}