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Set a reminder for the Space tomorrow with @fleece_cannon. Bring your questions! 📅 June 18th 🕒 15:00 UTC https://x.com/i/spaces/1jMJgmLXXQMKL/

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The Terra chain has resumed block production at approximately 14:18 AM UTC today and the chain upgrade is now complete. Transactions are now being processed, and users may resume normal activities.

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📣Attention Terra users: the Terra blockchain will be halted at block height 11550000 (approximately 8/8/2024 at 14:18 UTC) for a planned chain upgrade. Please note that transactions will not be processed during this time. https://www.mintscan.io/terra/block/11550000

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Yesterday, the Terra blockchain was the target of a malicious attack exploiting a Cosmos chain vulnerability, resulting in the unauthorized withdrawal of approximately $4 million worth of assets. When alerted to the presence of the vulnerability yesterday morning, we immediately coordinated with validators to halt the chain, and then pushed out a software upgrade to patch the vulnerability. We have also taken action to blacklist the exploiter’s wallet on Terra. We will share a more detailed breakdown of events when we have conclusively established the facts of the incident.

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The Terra chain has resumed block production at approximately 4:19 AM UTC today and the emergency chain upgrade is now complete. Transactions are now being processed, and users may resume normal activities. Validators holding over 67% of the voting power on Terra have upgraded their nodes to prevent the exploit from recurring. More validators are expected to upgrade soon.

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📣Attention Terra users: Please be advised that the chain will be halted shortly at block height 11430400 and transactions will not be processed during this time. We will be working with the validators on Terra (phoenix-1) to apply an emergency patch thereafter to remediate a suspected exploit.

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