We’ve got some spicy news from the Terra camp. Remember Terra? That Layer 1 blockchain that’s been making waves? Well, they’ve hit a bit of a snag. Their website has been compromised, and not in the “Oops, we forgot to renew our domain” kind of way. We’re talking full-blown hacker invasion!
Now, here’s where it gets wild. These sneaky hackers use the compromised website to launch phishing attacks on unsuspecting visitors. The kind where you get prompted to connect your online or hardware wallets? Yep, that’s the one. And if you’re thinking, “Well, I’ll just avoid the Terra website for now,” think again. Terra has advised its users to only sites associated with the Terra (dot)money domain once they give the all-clear.
Let me break it down for those of you scratching your heads, wondering what the big deal with phishing is. In this cyberattack, hackers disguise a webpage to sneak malicious code into users’ wallets. When users, thinking they’re on a legit site, connect their purses, they unknowingly sign a digital signature. This signature is the hacker’s golden ticket, granting them access to the assets in that wallet. And just like that, your crypto could vanish into thin air!
Now, the million-dollar (or crypto) question: how much was stolen? As of now, the exact amount remains a mystery. But here’s a fun fact: Terra’s blockchain was at the heart of the 2022 crypto downturn. Remember the collapse of its native algorithmic stablecoin, LUNA?
That little hiccup wiped $60 billion off the crypto market’s value. Ouch! But, like a phoenix, Terra rose from the ashes, relaunching its blockchain and associated tokens a few months post-crash. The new TERRA token? It’s currently trading at a modest $0.43 with a market cap of $154 million, according to CoinMarketCap.
