Terra Rebels And Validators Respond Swiftly To Cosmos Ecosystem Vulnerability.
In a tweet today via its official Twitter account, the Terra Rebels lauded the efforts of developers and validators in securing the Terra Classic chain.
We have an amazing team of Developers and Validators who continue to watch over the #LUNC blockchain. Security in crypto is our top priority. Without protecting the $LUNC users and #TerraClassic community, we are nothing. Thank you for all of the hard work everyone contributes. https://t.co/iyvL3ZRhEZ
— Terra Rebels (@TerraRebels) October 14, 2022
The comments come as developers and validators acted swiftly to ensure the chain was protected from a Cosmos chain vulnerability. As per a post on the Cosmos Hub Forum, core members of the Cosmos and Osmosis teams carried out an audit of the Inter Blockchain Communication (IBC) protocol that allows Cosmos chains to communicate following the BNB chain hack.
Notably, a critical vulnerability was discovered, and a patch was released yesterday. In a tweet by core Terra Classic developer Edward Kim today, the developer disclosed that several validators brought the vulnerability to the Terra Rebels’ notice on October 10.
1/ On Oct 10, we were informed of a vulnerability on the cosmos chain regarding IBCs. It was quickly brought to our attention by @PFC_Validator , @SmartStake , @setten_io , and @LUNCDAO . https://t.co/y88mEJXj8m
— Edward Kim (@edk208) October 14, 2022
Additionally, Kim reveals that the chain had achieved the minimum required security from the vulnerability in just 5 hours, as a third of the network’s voting power acted swiftly to apply the patch. And at the time of writing, this patch has been applied by over two-thirds of the voting power, the requirement for full chain security.
3/ We are now well over the 2/3s voting power. Huge thanks to the Cosmos and Osmosis teams, LUNC validators, @ZaradarTR , @VegasMorph , and @RexYellerBelly
— Edward Kim (@edk208) October 14, 2022
Unsurprisingly, community members, in response, also lauded the Rebels’ and validators’ efforts.
Biggest thanks to the great team, #TerraRebels and all the #LUNC community. https://t.co/dJYctUg8m3
— 弁Ｊ民 🔶 BJM™ Terra Squad (@bybenjamin81) October 14, 2022
It bears mentioning that the Terra Rebels have shown a strong desire to protect the chain from further exploits following the ecosystem collapse in May. It can be seen in how reXx of the Terra Rebels, on October 10 alone, took to Twitter to warn the community of 2 exploits, firstly about scam proposals on Terra Station, and the second about a fake swap and burn platform requiring user seed phrases.
As reported by The Crypto Basic, at least $100 million was lost in the BNB chain exploit.
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Source: https://thecryptobasic.com/2022/10/14/terra-classic-lunc-network-applies-cosmos-chain-security-patch-in-record-time/?utm_source=rss&utm_medium=rss&utm_campaign=terra-classic-lunc-network-applies-cosmos-chain-security-patch-in-record-time