Data leak [loss] $1M+

Tweet by Team Finance

2022-10-27 [vendor] Team Finance
Primary Source ↗
Financial Loss $1.4M (1,450,000 USD)
Recovered $13.0M

Incident Details

Team Finance is a project that helps projects lock their tokens to be released after a certain period or on a schedule. A hacker exploited a vulnerability in a smart contract that enabled users of Team Finance to migrate from version two to version three of their project, despite that contract being audited. The attacker made off with $14.5 million thanks to the vulnerability, though 90% of the funds were later returned.

Total loss estimated at $1,450,000.

Technical Details

Initial Attack Vector
Software bug / unintentional loss
Vendor / Product
Team Finance

Timeline

  1. 2022-10-27 Breach occurred
  2. 2022-10-27 Publicly disclosed