ChainCatcher report: According to an announcement from Transit Finance, the project recently experienced a security incident due to a historical vulnerability in an outdated smart contract originally deployed on TRON and decommissioned in 2022. This vulnerability was exploited, affecting a small number of users. The team stated that upon identifying the issue, they immediately conducted an investigation, isolated the affected components, and implemented fixes. On May 12, they further underwent an audit and made additional improvements. The currently active contract version remains unaffected and has been operating securely for over four years, with ongoing security audits and monitoring in place. Transit confirmed that affected users will receive full compensation; details of the reimbursement plan will be announced through official channels. The project also urged users to remain vigilant against fraudulent messages impersonating official communications and to never disclose their private keys or seed phrases.
Transit Finance Addresses TRON Smart Contract Exploit, Promises Full Compensation
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Summary
Transit Finance confirmed a recent exploit tied to a deprecated TRON smart contract from 2022. The issue affected a limited number of users. The team responded swiftly, completing an emergency fix and audit on May 12. Ongoing smart contract audits are in progress to prevent future issues. The current version of the smart contract remains secure and has operated without incident for over four years. Full compensation for affected users will be announced through official channels. Users are advised to safeguard their private keys and remain vigilant against scams.
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