SimpleSwap Helped Terraport Finance to Return Stolen Funds
Updated: Jul 7, 2023
SimpleSwap, an instant cryptocurrency exchange service, has helped Terraport Finance, a DeFi project, to avoid monetary losses and rebuild trust of users.
What happened? A brief overview
On April 10, 2023, a hacker drained liquidity pools from Terraport. As a result, intruders stole approximately $2 million worth of crypto assets (TERRA, LUNC and USTC) from Terraport users. The team of Terraport has immediately notified its customers of the accident via their social networks:
SimpleSwap was one of the crypto exchanges used by hackers trying to liquidate the stolen funds. Here are these transactions:
SimpleSwap has stopped a set of transactions, which equaled 260 million LUNC. Terraport Finance confirmed that SimpleSwap was the first organization to make a commitment to returning funds:
Why is it so important?
The success of a project in the Crypto World relies heavily on the trust and reputation it garners from people. We recognize the significance of collaborating with partners and maintaining honesty with customers.
Through such collaborations and transparency, SimpleSwap demonstrates that the crypto ecosystem can foster a friendly and supportive environment.
The information in this article is not a piece of financial advice or any other advice of any kind. The reader should be aware of the risks involved in trading cryptocurrencies and make their own informed decisions. SimpleSwap is not responsible for any losses incurred due to such risks. For details, please see our Terms of Service.
