Team Finance exploited for $14.5M during protocol migration despite contract audit

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Audits don't always equal surefire security.

Team Finance said that the smart contract had been previously audited and urged the hacker to “get in contact with us for a bounty payment.

” As a result, developers have temporarily paused all activity on the protocol and claim that all funds on the platform are not at risk of a further exploit. Founded in 2020, Team Finance and its parent firm, TrustSwap, provide token liquidity locking and vesting services for project executives. The protocol claims to have $3 billion secured across 12 blockchains.

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