Terra, a well-known blockchain protocol, has reportedly been exploited due to a vulnerability that was identified months ago. According to Cyvers Alerts, hackers have stolen 60 million ASTRO, 3.5 million USDC, 500,000 USDT, and 2.7 Bitcoin. The total reported losses amount to approximately $6.8 million.

🚨ALERT🚨 Terra was exploited, resulting in the theft of approximately 60M ASTRO, 3.5M USDC, 500K USDT, and 2.7 BTC.

The attackers took advantage of a reentrancy vulnerability in the timeout callback of IBC hooks. This vulnerability was disclosed in April of this year.

Just hours before the Cyvers Alerts post, Terra’s official page announced that the network was halted to apply an emergency patch due to this exploit. The Terra chain resumed block production at approximately 4:19 AM UTC today, and the emergency chain upgrade is now complete. Transactions are now being processed, and users may resume normal activities.

At 07:40 UTC, Terra confirmed that the blockchain operations had resumed, and the emergency upgrade was finished. However, Terra has yet to share detailed information about the assets lost.

It’s important to note that the price of ASTRO plunged by 60% following the halt in network operations.

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