Terra blockchain was exploited, resulting in the theft of $6.8 million in assets, including 60 million ASTRO, 3.5 million USDC, 500,000 USDT, and 2.7 BTC. The hack occurred due to a reentrancy vulnerability in the IBC hooks timeout callback, revealed in April.
Blockchain security firm Cyvers Alerts reported the breach, and shortly after, Terra halted its network for an emergency patch. The blockchain resumed operations hours later, but the details of the losses were not disclosed immediately.
This incident caused ASTRO’s price to plummet by 60%. The swift response underscores the ongoing security challenges in the blockchain space.
