Terra Resumes Block Production, Emergency Patch Deployed

IconCryptoNewsTerminal Staff31 Jul, 2024

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Terra Resumes Block Production, Emergency Patch Deployed

Terra (LUNA) announced via Twitter that "Terra chain block generation has resumed. The validators holding more than 67% of the voting power have upgraded their nodes to prevent the re-occurrence of the exploit." Previously, Beosin analyzed that someone created about 60 million ASTRO, 3.5 million USDC, 500k USDT and 2.7 BTC out of thin air on Terra by exploiting an IBC vulnerability (total approximately $52.8 million). To address this, Terra has released an emergency patch and is working to recover the stolen funds.