Terra’s unlucky streak continues as the latest phishing attack causes a freeze on the website.
Terra blockchain announced a temporary shutdown of its website while the company tried to deal with the aftermath of a phishing attack that took place over the weekend.
On August 22nd, Terra posted on Twitter that its domains have been frozen, but the “full resolution is still underway.” According to the company, the team is working diligently to solve the issue, but there have been delays in third-party responses.
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The company stated:
Although we can confirm the domains have been temporarily frozen, we advise all Terra users to continue to avoid engaging with sites under the terra(dot)money domain until we post an official "all-clear" notice from this account.
The issue also affects Station Wallet, that’s powered by Terra. The wallet can be used to access decentralized applications (dApps) on supported networks, such as Terra, Kujira and Crescent.
At the time of writing this, LUNA (Terra's native token) has a $151m market cap.
Users are encouraged not to use the Station desktop and mobile apps until their safety can be further verified. At the moment, browser extensions for Chrome, Firefox and Microsoft Edge appear to be safe to use.
Reportedly, what started this chain reaction was a phishing attack aimed at the users who try to connect their online or hardware wallets to the site. It utilized a compromised web page to gain access to the wallets, and there’s no real picture of how much has been stolen.
This is just the latest of pitfalls Terra’s been through over the last few years. Back in May 2022, the original Terra blockchain ceased its activity; the collapse removed $40bn in value from the crypto market. The current iteration of Terra was launched a few months later, in the summer of 2022.
Terra blockchain belongs to Terraform Labs, and unfortunately, despite the fresh start, the company’s owners are no strangers to controversies.