Terra Classic Network Targeted by Spam Transaction Attack

Terraport Hacks 

The Terra Classic community faced a network attack, with attackers aiming to disrupt validator operations. The tactic involved flooding the network with a large number of small Luna Classic (LUNC) transactions, and overwhelming validators with insufficient RAM capacity.

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This attack resulted in over 30 validators being temporarily disabled, some of which remain offline. While staking rewards are paused for delegators who rely on these validators, user funds – both LUNC and USTC – remain secure.

Luna Classic Labs, acknowledging the attack, emphasized their validator’s resilience due to robust hardware specifications. They also implemented additional security measures and brief server downtime for enhanced protection.

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This incident highlights the ongoing importance of blockchain security, even after the implementation of KYC for L1 developers. The community ponders questions regarding validator competency and potential technical measures to prevent similar attacks in the future. Luna Classic Labs expresses its commitment to supporting proposals that strengthen the Terra Classic network’s resistance, security, and overall user trust.

Key takeaways

  • Terra Classic network experienced a spam transaction attack.
  • Over 30 validators were temporarily disabled, impacting staking rewards.
  • User funds remain safe; the attack did not compromise LUNC or USTC holdings.
  • The incident raises concerns about validator preparedness and network security.
  • Luna Classic Labs emphasizes its commitment to network security enhancements.

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Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.