Terra's blockchain protocol recently suffered an alleged exploit linked to a vulnerability disclosed months ago. On July 31, Cyvers Alerts reported that hackers stole 60 million ASTRO, 3.5 million USDC, 500,000 USDT, and 2.7 Bitcoin from Terra, totaling approximately $6.8 million in losses. The security flaw, identified in April, involves the network's timeout callback in IBC hooks, allowing attackers to repeatedly execute transactions, potentially draining funds or minting extra tokens.

Just before this report, Terra's official X account announced a network halt to apply an emergency patch in response to the exploit.