DeFi protocol Titano Finance was hacked for $1.9 million.
$1.9 million has been withdrawn from the liquidity pool of Titano, the decentralized finance protocol offering 103,000% APY. According to the statement made by blockchain security provider Peckshield, a total of 4,828 Binance Coins (BNB) have been transferred, corresponding to $1.9 million, from The PrizeStrategy contract, which is the key instrument of the protocol’s liquidity ecosystem.
Price Drops 80%
After the event, TITANO’s price fell from the $0.16 level it traded to $0.034. TITANO managed to retrace a significant portion of its loss as of broadcast time and is trading at $0.11.
Source: CoinGecko Protocol Disclosure
TITANO confirmed that Titano PLAY was hacked in a statement on its official Twitter account. The account also added that everyone involved in Titano PLAY will have their tokens fully refunded.
Hello Titans,
Titano PLAY was hacked today. Titano, DID NOT mint any tokens. The PLAY contract was compromised, by a malicious hacker who created more Titano Tickets.
Anyone involved in Titano PLAY will have their tokens fully returned.
https://t.co/sfrdi0ZcOq— Titano (@TitanoFinance) February 14, 2022
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