The Terraport hack, which resulted in the theft of over 15.1 billion LUNC tokens from liquidity pools on the Terra Classic layer-2 DeFi project, was not a hack but an orchestrated, long-term infiltration by an individual using a fake identity, according to a recent statement by TerraCVita, the independent LUNC development team and creator of Terraport. Investigations by Binance's security team and law enforcement have linked the attacker to a known criminal organization responsible for many other attacks in the crypto space. The team noted that 55% of all stolen funds have been frozen, and all of Terraport's code is under audit by CertiK to prevent similar incidents in the future.

(By Ndianabasi Tom)