Terra Website Compromised; Developers Warn Against Phishing Scam

Layer 1 blockchain Terra said its website was compromised over the weekend by hackers that are using the access to attempt phishing attacks on visitors, who are prompted to connect their online or hardware wallets.

"To avoid potential phishing scams, please continue to avoid interacting with sites with the terra(dot)money domain until we post another update confirming full access," Terra tweeted on Sunday.

A phishing attack in this case is where hackers disguise a web page to insert malicious code into users' wallets. When a user connects a wallet to a compromised web page they will sign a digital signature that gives the hacker access to assets in that wallet.

It is unclear how much has been stolen.

The Terra blockchain is best known for being at the center of 2022's crypto downturn following the collapse of its native algorithmic stablecoin, LUNA. The implosion wiped $60 billion in value out of the crypto market.

The blockchain and related tokens relaunched a few months after the crash, with the new TERRA token currently trading at $0.43 with a $154 million market cap, according to CoinMarketCap.