Terra Classic

<ul><li>Terra blockchain suffered a $5.28M theft due to a reentrancy vulnerability in IBC hooks, disclosed in April 2024.</li><li>Approximately 60M ASTRO, 3.5M USDC, 500K USDT, and 2.7 BTC were stolen from Terra due to a security breach.</li><li>Terra halts transactions at block height 11430400 to apply an emergency security patch and address the exploit.</li></ul>The Terra blockchain network experienced a significant security breach that has led to substantial financial losses and a severe market reaction, with key digital assets including the ASTRO token plummeting in value. The exploit took place due to a reentrancy vulnerability in the timeout callback of IBC hooks, which was <a href="https://cryptotale.org/terra-luna-classic-community-unanimously-approves-ibc-proposal/" rel="noopener noreferrer nofollow">disclosed</a> previously in April 2024.In-depth Analysis of the ExploitBy exploiting IBC hooks vulnerability, an unidentified attacker was able to execute multiple transactions repetitively, which led to the unauthorized extraction of significant digital assets. Specifically, the attacker <a href="https://x.com/CyversAlerts/status/1818550103000383984" rel="noopener noreferrer nofollow">withdrew</a> about 60 million ASTRO tokens, 3.5 million USDC, 500,000 USDT, and 2.7 Bitcoin. The total financial impact from these unauthorized transactions is estimated to be around $5.28 million.<a href="https://cryptotale.org/terra-blockchain-halts-after-security-breach-results-in-5-28-million-loss/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Terra Blockchain Halts After Security Breach Results in $5.28 Million Loss

CryptoTale

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