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What will be the outcome of Terra blockchain's emergency upgrade?
2
Resolution / Starting Odds
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Official announcements from Terra blockchain team, reputable news sources
Story
Terra Blockchain Halted After IBC Exploit Steals 60M $ASTRO
Jul 31, 2024, 07:23 AM
The Terra blockchain has been halted for emergency upgrades following a significant security exploit. An attacker exploited a reentrancy vulnerability in the timeout callback of IBC hooks, a third-party module, to steal approximately 60 million $ASTRO, 3.5 million $USDC, 500,000 $USDT, and 2.7 BTC. The vulnerability, which was disclosed in April, allowed the attacker to mint several tokens on the Terra chain. As a result of the exploit, $ASTRO has suffered a loss of more than 60% of its value.
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