"DeFi Platform Robbed of Nearly $15 Million in Hack"

Team Finance, a decentralized finance (DeFi) platform, has confirmed that hackers exploited a vulnerability and stole $14.5 million in cryptocurrency. Several blockchain security companies notified the company of the hack before it issued a statement. The company encourages the exploiter to contact them in order to receive a bounty payment. The audited v2 to v3 migration function was used to steal $14.5 million in tokens. Team Finance has temporarily paused all activity until this exploit is fixed. Team Finance describes itself as a security toolkit for founders looking to create a token and raise funds from a community of investors. Since its inception in 2020, the platform claims to have secured $3 billion in cryptocurrency across 12 different blockchains. The blockchain security companies PeckShield, SlowMist, and BlockSec, dissected the attack, each pointing to a flaw in Team Finance's code as the source of the problem. The attack comes just eight days after $8 million was stolen from Moola Market and two weeks after more than $100 million was stolen from Mango Markets' platform. This article continues to discuss the exploitation of Team Finance for $14.5. 

The Record reports "DeFi Platform Robbed of Nearly $15 Million in Hack"