Team Finance Exploited for $14.5M, Attacker Keeps 10% as a Bug Bounty.
Published in
1 min readNov 4, 2022
On October 27th, DeFi project Team Finance announced that they had just been alerted about an exploit on its protocol. They said they were investigating the incident and ‘working to analyze and remedy the situation.’ They also requested the exploiter to contact them for a potential bug bounty payment.
In this article, we cover the following:
- How the attacker used 1.76 ETH to carry out the exploit
- How the exploit happened despite the Team Finance code being audited
- How Team Finance reached out to the attacker resulting in $7 million of stolen funds being returned with the attacker keeping 10% as a bug bounty
- A possible new trend of ‘whitehat’ hackers exploiting DeFi protocols to claim bug bounties
Please read all about it in our blog article through the link below.
https://blog.omniatech.io/team-finance-exploited-attacker-keeps-bug-bounty
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