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MTCC reports 85 million Rufiyaa profit amid Term Finance hack
Maldives Transport and Contracting Company (MTCC) reported a net profit of 85 million Rufiyaa for the past year. According to the company's financial statements, this represents an 88 percent increase in net profit after tax compared to the previous year. Total revenue for the period reached 2,134 million Maldivian Rufiyaa, with the construction and dredging sector serving as the primary revenue driver.
In a separate financial event, the decentralized finance lending platform Term Finance suffered a hack resulting in an estimated loss of 8.5 million USD. Reports indicate the attacker seized 2,843 ETH and 1.68 million USDC by exploiting low participation in governance voting to gain control of the vaults. Term Labs has suspended all operations related to Term Matter vaults in response to the incident.
Entities
DefiLlama · MTCC · Pechshield · Term Finance · Term Labs
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Term Labs has suspended all operations regarding Term Matter vaults.
- [○ 1 SOURCE] The total loss from the Term Finance hack is approximately 8.5 million USD.
- [○ 1 SOURCE] MTCC earned a net profit of 85 million Rufiyaa last year. mulhiraajje.com
- [○ 1 SOURCE] The hacker exploited low governance participation to gain control of the vaults.
- [○ 1 SOURCE] The construction and dredging sector provided the largest portion of revenue. mulhiraajje.com
- [○ 1 SOURCE] A hacker stole 2,843 ETH worth 6.87 million USD and 1.68 million USDC from Term Finance.
- [○ 1 SOURCE] MTCC generated a total revenue of 2,134 million Maldivian Rufiyaa. mulhiraajje.com
- [○ 1 SOURCE] Net profit after tax increased by 88 percent compared to the previous year. mulhiraajje.com