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.