In a recent Twitter announcement, it has been revealed that investigations into the Terra Classic hack have uncovered more than 6 billion LUNC tokens linked to the attack. This news is likely to raise concerns among investors and users of the Terra network, as it suggests that the scale of the hack may have been much larger than initially thought.
Over 6 Billion LUNC Has Been Traced To the Terra Classic Hack
ReXx disclosed the five addresses in a tweet today, noting that they are part of the wallets holding the stolen Terraport funds. According to him, he and the exchanges involved in the investigation have discovered all the stolen funds, including 15B+ LUNC and 9.4M+ TerraClassicUSD (USTC) tokens.
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Here are a few wallets that hold some funds from Terraport.https://t.co/qztsaXD6xGhttps://t.co/2sEX4oCSXxhttps://t.co/OAsjoacGnjhttps://t.co/s3n0NVUKd0https://t.co/4CkP7Z1FMHhttps://t.co/OAsjoacGnj
All 15B LUNC + USTC are tracked and accounted for from me and the exchanges
— reXx™ (@CosmoSreXx) April 11, 2023
reXx further revealed that the hacker leveraged SimpleSwap, an instant crypto exchange, to move the funds. He noted that the SimpleSwap team is working collaboratively with other exchanges to ensure the funds are identified and frozen. According to ReXx, investigations have uncovered almost all the wallets with investors’ assets from Terraport.
The "attacker" of @_Terraport_ is using @SimpleSwap_io and the simpleswap team is working with the affiliated exchanges on the matter. We are all doing our best to recover all funds from the exploit. We have located almost all wallets that has investors funds from TP.
— reXx™ (@CosmoSreXx) April 11, 2023
Since then, a team of investigators has been working to uncover the identity of the attacker and track down the stolen funds. Their efforts have now led to the discovery of more than 6 billion LUNC tokens, which are believed to be linked to the hack.
The news of this discovery is likely to have a significant impact on the Terra network and the wider cryptocurrency community. It underscores the importance of maintaining strong security measures and protocols to prevent such attacks from occurring in the future.
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In response to the news, the Terra team has issued a statement acknowledging the severity of the situation and promising to take steps to address the issue. They have also urged users of the network to remain vigilant and take all necessary precautions to protect their funds.
Amid efforts to freeze the stolen funds and recover users’ assets, reXx has also launched an investigation into demystifying the Terraport hack. As part of this investigation, he requested that TerraCVita release the Terraport code to enable him and others to ascertain the cause of the exploit.