Hackers infiltrated the Team Finance decentralized finance platform through a vulnerability and exploited cryptocurrency tokens amounting to $14.5 million, according to The Record, a news site by cybersecurity firm Recorded Future.
The company said in a statement that the exploit was achieved through the audited v2 to v3 migration function and said it has temporarily halted all activity until it has determined that the exploit has been fixed.
"We have multiple audits on each and every smart contract by reputable audit companies, and re-audit all new deployments. Actively looking into the exploit, and hopeful to get the funds back. Well keep everyone updated by the minute," Team Finance said.
Several blockchain security firms raised the alarm on the hack before the company acknowledged it in a statement, with groups PeckShield, SlowMist and BlockSec stating that the root of the issue was a problem with the company's code and providing a breakdown of the attack.
BBC reports that nearly 90 organizations have notified the UK's Information Commissioners Office regarding data breaches concerning major business outsourcing firm Capita, which was impacted by a cyberattack in March and was later found to have a long-exposed data server.
Eyecare giant Luxottica, which owns Ray-Ban and Oakley, as well as operates U.S. vision insurance firm EyeMed Vision Care, has disclosed being impacted by a third-party data breach in 2021 impacting 70 million customers following the leak of a stolen database on various hacking forums from April 30 to May 12, BleepingComputer reports.