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Terra (LUNA) Issues Critical Update in Wake of Phishing Attempts

Tue, 08/22/2023 - 13:01
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Tomiwabold Olajide
Complete resolution still being worked on
Terra (LUNA) Issues Critical Update in Wake of Phishing Attempts
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Terra (LUNA) has issued a critical announcement to its users following phishing attempts on its website.

In the most recent update, Terra reports that attempts to freeze the Terra (dot) money domains have been successful in stopping user phishing attacks. A complete resolution is still being worked on.

Although the domains have been temporarily frozen, Terra urges all of its users to continue to avoid visiting websites with the Terra (dot) money domain until it releases an official "all-clear" announcement.

Terra (LUNA) Sees Major Upgrade, Here's What's New

Terra guarantees that its team is working around the clock to resolve the issue but notes that some third-party responses have been delayed. Terra also gave an update on Station Wallet, a Terra-powered multichain Web3 wallet, in which multiple changes have been made to protect customers.

Station Wallet advises users to avoid using the Station desktop and mobile apps until their safety is guaranteed. The Web3 platform guarantees that an update will be posted considerably sooner.

Meanwhile, the Station Chrome extension has been upgraded to 7.4.4 to combat phishing attempts and is now safe to use. Other Station browser extensions, such as Firefox and Microsoft Edge, have also been upgraded to the most recent versions and are safe to use. Additionally, the Station web app is now live on a new domain.

Terra (LUNA): Feature That Would Allow Interchain Staking Launches on Testnet

Over the weekend, hackers attempted to defraud customers using phishing attempts on the Terra website. On Aug. 19, Terra issued a caution to users, advising them not to interact with any sites using the Terra Money domain until additional updates are available. The following day, Aug. 20, Terra issued a similar warning.

The most recent troubles to affect Terra occurred more than a year after the Terra ecosystem imploded in May 2022. As Terra's algorithmic stablecoin UST crashed, the event wiped out billions of dollars from the crypto ecosystem, triggering a string of bankruptcies as the contagion spread.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.