{"id":35201,"date":"2024-07-31T16:52:48","date_gmt":"2024-07-31T16:52:48","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/astro-token-crashes-60-after-terra-blockchain-exploit\/"},"modified":"2024-07-31T16:52:48","modified_gmt":"2024-07-31T16:52:48","slug":"astro-token-crashes-60-after-terra-blockchain-exploit","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/astro-token-crashes-60-after-terra-blockchain-exploit\/","title":{"rendered":"ASTRO token crashes 60% after Terra blockchain exploit"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_A-computer-screen-showing-system-hack-4-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_A-computer-screen-showing-system-hack-4-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_A-computer-screen-showing-system-hack-4-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_A-computer-screen-showing-system-hack-4-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Astroport (ASTRO) price nosedived 60% after Terra blockchain announced a network halt.<\/span><\/li>\n<li><span style=\"font-weight: 400\">The halt followed an exploit on Terra blockchain that saw 60 million ASTRO, 3.5 million USDC and 2.7 BTC stolen.<\/span><\/li>\n<li><span style=\"font-weight: 400\">ASTRO price is currently at $0.02 after falling from highs of $0.046.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">ASTRO, the native token of the Cosmos liquidity protocol Astroport, has nosedived more than 60% as the community reacts to an exploit that saw the Terra blockchain halt transactions.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On July 31, <a href=\"https:\/\/coinjournal.net\/news\/terra-agrees-to-4-5-billion-settlement-with-sec-over-fraud-case\/\">Terra blockchain<\/a> announced the temporary pause to operations at block height 11430400, notifying users of the downtime via a post on X.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udce3Attention Terra users: Please be advised that the chain will be halted shortly at block height 11430400 and transactions will not be processed during this time.<\/p>\n<p>We will be working with the validators on Terra (phoenix-1) to apply an emergency patch thereafter to remediate a\u2026<\/p>\n<p>\u2014 Terra \ud83c\udf0d Powered by LUNA \ud83c\udf15 (@terra_money) <a href=\"https:\/\/twitter.com\/terra_money\/status\/1818498438759411964?ref_src=twsrc%5Etfw\">July 31, 2024<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">The Astroport team<\/span> <a href=\"https:\/\/x.com\/astroport_fi\/status\/1818508192822837511\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">confirmed<\/span><\/a><span style=\"font-weight: 400\"> the incident, noting that the exploit may have been due to an IBC vulnerability.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cIt appears an IBC vulnerability was exploited in order to mint several tokens on the Terra chain, including $ASTRO. As the chain has now halted, no further tokens are able to be minted at this time,\u201d the Astroport Foundation said.<\/span><\/p>\n<p><span style=\"font-weight: 400\">IBC is an inter-blockchain communication protocol that allows for authentication and transfer of data across multiple chains. With the open-source protocol, users can access several decentralised applications and services on different blockchains.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">ASTRO price dives<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The halt to the Terra chain came as blockchain security firm Cyvers revealed an exploit had led to the theft of 60 million ASTRO tokens. Notably, this also impacted other tokens, with 3.5 million USDC, 2.7 BTC and 500,000 USDT.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8ALERT\ud83d\udea8<a href=\"https:\/\/twitter.com\/terra_money?ref_src=twsrc%5Etfw\">@terra_money<\/a>  was exploited, resulting in the theft of approximately 60M <a href=\"https:\/\/twitter.com\/search?q=%24ASTRO&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ASTRO<\/a>, 3.5M <a href=\"https:\/\/twitter.com\/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$USDC<\/a>, 500K <a href=\"https:\/\/twitter.com\/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$USDT<\/a>, and 2.7 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>.<\/p>\n<p>The attacker took advantage of a reentrancy vulnerability in the timeout callback of ibc-hooks.<br \/>This vulnerability was revealed in April of this year.\u2026 <a href=\"https:\/\/t.co\/56oTpg78Cv\">https:\/\/t.co\/56oTpg78Cv<\/a><\/p>\n<p>\u2014 \ud83d\udea8 Cyvers Alerts \ud83d\udea8 (@CyversAlerts) <a href=\"https:\/\/twitter.com\/CyversAlerts\/status\/1818550103000383984?ref_src=twsrc%5Etfw\">July 31, 2024<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400\">Astroport (ASTOR) saw a huge dip in its native token\u2019s price, with a sharp reaction pushing the token\u2019s price from $0.046 to lows of $0.013. ASTRO price has returned to above $0.02 as the various teams work to patch the vulnerability.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/astro-token-crashes-60-after-terra-blockchain-exploit\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Astroport (ASTRO) price nosedived 60% after Terra blockchain announced a network halt. The halt followed an exploit on Terra blockchain that saw 60 million ASTRO, 3.5 million USDC and 2.7 BTC stolen. ASTRO price is currently at $0.02 after falling from [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":35202,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35201"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=35201"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35201\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/35202"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=35201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=35201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=35201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}