Project name: TerraPort Finance
Project type: DEX
Date of exploit: Apr 10th, 2023
Asset loss: around $4M
Vulnerability: Centralization Related Risk
Date of audit report publishing: Dec 11th, 2023
Conclusion: Out of Audit Scope
Details of the Exploit
Background
Terraport operates as a DeFi platform that uses smart contracts on the Terra Classic blockchain. It is structured around a circular economy model designed for perpetual self-sustainability. The platform's operations are driven by its inherent deflationary token, $TERRA, which serves as a key to unlocking different functionalities within the ecosystem.
Nature of the Vulnerability
The Terraport Liquidity wallet is breached due to potential centralization risk.
CertiK Audit Overview
Conclusion
On April 10th, 2023, the Terraport project team was alarmed breach detected with the Terraport Liquidity wallet. The total loss is around $4M.
CertiK performed the audit assignment after the exploit.
