ChainCatcher message, Terra stated that as Terraform Labs (TFL) begins to gradually wind down operations, proposal 4818 will be the last chain upgrade they implement. According to the settlement agreement reached between TFL and the U.S. Securities and Exchange Commission (SEC) and the implementation of its proposed Chapter 11 bankruptcy plan, TFL will no longer be able to support future chain upgrades.Terra indicated that in the future, it will seek community-driven initiatives, such as the Phoenix Directive, to take over the maintenance and operational responsibilities of the Terra blockchain.

ChainCatcher message, Terra posted on X that the Terra chain has resumed block production around 4:19 AM UTC today, and the emergency chain upgrade has been completed. Transactions are being processed, and users can resume normal activities. Validators holding over 67% of the voting power on Terra have upgraded their nodes to prevent this vulnerability from occurring again. More validators are expected to upgrade soon.