Terra Classic Avoided Security Exploit

Terra Classic, the original Terra blockchain by Terraform Labs, remained unaffected by a recent hack on Terra (Phoenix chain).

Terra (LUNA) encountered a security exploit on August 1 due to an outdated internal forked IBC-go 7.3 version, while Terra Classic (LUNC) remained unaffected thanks to a major upgrade.

Terra Classic Core Developer Highlights LUNC’s Safety

Terra Classic, the original Terra blockchain launched by Terraform Labs, was not affected by the recent hack on Terra (Phoenix chain). An unknown attacker exploited a vulnerability in a third-party module called IBC hooks, which is used for cross-chain contract interactions and token transfers.

Terra Classic core developer Genuine Labs took to the X platform to inform the community that LUNC is not impacted by the hack.

“About the latest exploitation happened on Terra Money (phoenix-1), we are happy to announce that Terra Classic is not affected since we patched it back in May with our V3 upgrade,” said Genuine Labs.

LUNC also relies on inter-blockchain communication (IBC) protocols to interact and transfer tokens with other blockchains.

Cosmos co-founder Ethan Buchman expressed his dismay over the recent Terra hack, given that the community is already dealing with Terraform Labs’ bankruptcy. He stated that Terra was initially patched for the vulnerability, but it appears to have been accidentally reverted in their June upgrade.

Really sad to see ths ASTRO hack on Terra. Hearts out to everyone hurt.

Terra was initially patched for this with everyone else but seems to have accidentally reverted in their June upgrade.

Unfortunately they’re using a fork of IBC which makes it harder to stay up to date and… https://t.co/000

— Ethan Buchman (?,?) (@buchmanster) July 31, 2024

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