Terra Blockchain Restarts After $4M Exploit

Terra developers briefly paused network operations on Wednesday after an apparent reentrancy attack led to over $4 million of various tokens being taken from the blockchain. The blockchain halted at block height 11430400 for an emergency patch to fix the vulnerability. The fix was completed at 04:19 UTC. Validators, the entities that support the network, with over 67% of the voting power on Terra upgraded their nodes to prevent the exploit from recurring, according to a post on the X. Reentrancy is a common bug that allows exploiters to trick a smart contract by making repeated calls to a protocol to steal assets.

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