Terra Temporarily Suspends Blockchain, Rolls Out Emergency Patch

IconCryptoNewsTerminal Staff30 Jul, 2024

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Terra Temporarily Suspends Blockchain, Rolls Out Emergency Patch

Terra (LUNA) has temporarily halted its blockchain at block 11430400 to address a critical vulnerability. The team is working diligently with validators to apply an emergency patch. This measure is essential to ensure the security and integrity of the network. The Terra team has assured users that they are actively monitoring the situation and will provide regular updates on the progress. During this time, all transactions and network operations will be suspended. Users are advised to be patient and await further announcements from the Terra team. Terra is a prominent blockchain platform known for its stablecoin ecosystem and the development of decentralized financial (DeFi) applications. The temporary halt is a precautionary measure to safeguard the network and maintain the trust of its users. The team's prompt response and transparency in communicating the situation are commendable.

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