Terra Hack: $5 Million Reportedly Stolen Amid Terraform Labs Bankruptcy

Quick Summary:

The Terra hack announcement, made via Terra’s official account on X (formerly known as Twitter), notified users of the imminent halt at block height 11430400.During this time.

On Wednesday, July 31, the Terra Luna chain experienced a temporary halt due to a suspected exploit.

This exploit allowed the attacker to siphon off value from bridged assets, impacting tokens such as USD Coin (USDC) stablecoin and Astroport.

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Article Details

Author / Journalist: Kritika Mehta

Category: Crypto

Markets: India

Topics: Blockchain News 24/7 Cryptocurrency News Terraform Labs Terraform bankruptcy Terra (LUNA) Terra Classic Price Altcoin News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-31 @ 07:27:33 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 474 words

Reading Time: 3 minutes read

Sentences: 50 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21869100

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 22 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 9 hours ago

Coverage Areas: India

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