Beosin: The loss amount from the Terra chain IBC vulnerability has risen to approximately $5.28 million
ChainCatcher news, according to Beosin Alert monitoring, the Terra chain has been suspended due to an emergency upgrade. It seems that someone has exploited an IBC vulnerability to mint multiple tokens on the Terra chain, including ASTRO.
The Beosin security team analyzed and found that after the attacker instantiated the contract on Terra, they exploited a reentrancy vulnerability in the timeout callback of ibc-hooks, transferring approximately 60 million ASTRO, 3.5 million USDC, 500,000 USDT, and 2.7 BTC, totaling about 5.28 million USD in value.
This vulnerability was disclosed in April this year and belongs to a vulnerability in the cosmos base library, but Terra has not fixed it.
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