Astroport Exploited for $6.8M Due to Terra Vulnerability, ASTRO Down 60%

Jul 31, 2024, 04:33 AM

Astroport has experienced a significant security breach, resulting in the exploitation of millions of dollars worth of tokens. The attack, which exploited a vulnerability in the Terra blockchain's IBC hooks, has led to a dramatic drop in the value of the ASTRO token, which is down 60%. The hacker has already dumped 15 million ASTRO and has 39 million more available to dump. The vulnerability was initially patched by Terra/TFL in April but was somehow unpatched in a subsequent update. This incident has raised concerns within the community, with some suggesting that Astroport should move away from Terra and focus on healthier parts of the IBC ecosystem. The exploit has reportedly resulted in losses of $6.8 million, including 3.5 million USDC, 500,000 USDT, and 2.7 BTC.