Hacker Steals Almost $16M from DeFi Protocol Team Finance

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An unknown attacker has used a vulnerability in the DeFi protocol Team Finance and has stolen $15.8 million in crypto.

According to PeckShield experts, the attacker has used a bug in the token migration function. He has sent real liquidity from Uniswap V2 to new pairs on the third version of the protocol with a “distorted” price, returning “huge profits.”

To implement the attack, he has needed only 1.76 ETH. The attacker transferred funds from the automated FixedFloat crypto exchange.

The Team Finance team has confirmed the incident and has stated that the function used by the attacker was audited. The developers have launched an investigation and invited the hacker to discuss a refund for a reward.

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