A proposal to secure approximately $2 million of funds stolen due to a hack on the Terraport platform was submitted to the TerraCVita community. The proposal, created by senior and respected member Rex Harrison, suggests that an "emergency code update" be applied in order to freeze the stolen assets, preventing the transfer of funds out of the Terra Classic Blockchain and the potential loss of all assets.

If community consensus approves the amendment, Harrison has confirmed that the team will then submit a new proposal to explore reimbursement options for affected users. This new proposal will be developed in close collaboration with the TerraCVita Community in order to ensure that the best outcome for the users is achieved.

Thanks to the combined efforts of a number of exchanges, including KuCoin, Binance, MEXC and SimpleSwap, $1 million of the stolen funds have already been blocked from trustless off-chain wallets. Rex confirms that the exchanges are willing to return these funds to the rightful owner.

The investigation into the Terraport hack is ongoing and has determined that a well-known crime syndicate was responsible. As the investigation continues to move forward, the team of exchanges continues to work closely together in order to ensure that the stolen funds are returned to the community. As such, the TerraCVita team remains committed to ensuring that users are given the best possible outcome.



Other News from Today