$LUNA HAS FAILED AGAIN! 😤 Could Have been Prevented? 🤔👇
LUNA, the most famous cryptocurrency, has recently lost $5.3 million worth of tokens! How? Due to an exploit in the Inter-Blockchain Communication (IBC) hooks. An IBC is basically a feature that allow different blockchains to communicate and transfer data or assets between each other. The hackers found a vulnerability over there and thus they could move those assets (ASTRO, USDC, USDT and BTC) without authorization!
The most dramatic part of this story is that the IBC issue was already mentioned months ago to LUNA, however they decided to postpone the fix and leaving the platform exposed! In my opinion this situation could have been avoided if LUNA would have act ASAP! This situation highlights the importance of maintaining robust security measures for cross-chain communication features, even for IBC hooks!
If You Are Not Surprised About LUNA, Then Hit A ❤️!
STAY TUNED! 🔥 & Remember, Your Support Is MASSIVELY Appreciated!👍💪 Also Don't Forget To Share It To Your Buddy! 🎅 - DYOR 🙏 NFA.🤝
