Investigations Uncover 6B+ LUNC Linked to Terra Classic Hack

Terra Classic (LUNC) Lost assets were discovered in five different Terra Classic wallets associated with the exploit.

Investigations on the Terraport hack have identified over 6 billion Terra Classic (LUNC) linked to the exploit. The assets were discovered in five different Terra Classic wallet addresses. Following the hack, several well-meaning Terra Classic community members, especially reXx, have liaised with exchanges to identify and freeze the stolen assets.

ReXx disclosed the five addresses in a tweet today, noting that they are part of the wallets holding the stolen Terraport funds. According to him, he and the exchanges involved in the investigation have discovered all the stolen funds, including 15B+ LUNC and 9.4M+ TerraClassicUSD (USTC) tokens.

Here are a few wallets that hold some funds from Terraport.https://t.co/qztsaXD6xGhttps://t.co/2sEX4oCSXxhttps://t.co/OAsjoacGnjhttps://t.co/s3n0NVUKd0https://t.co/4CkP7Z1FMHhttps://t.co/OAsjoacGnj

All 15B LUNC + USTC are tracked and accounted for from me and the exchanges

— reXx™ (@CosmoSreXx) April 11, 2023

reXx further revealed that the hacker leveraged SimpleSwap, an instant crypto exchange, to move the funds. He noted that the SimpleSwap team is working collaboratively with other exchanges to ensure the funds are identified and frozen. According to ReXx, investigations have uncovered almost all the wallets with investors’ assets from Terraport.

The "attacker" of @_Terraport_ is using @SimpleSwap_io and the simpleswap team is working with the affiliated exchanges on the matter. We are all doing our best to recover all funds from the exploit. We have located almost all wallets that has investors funds from TP.

— reXx™ (@CosmoSreXx) April 11, 2023

He assured that he would communicate with all the appropriate exchanges to ensure all the funds were identified and frozen. Gate.io joined MEXC Global in temporarily disabling LUNC and USTC deposits as investigations continue. Recall that MEXC also froze millions of LUNC and $124K+ worth of assets linked to the hack found on its platform.

Demystifying the Terraport Hack

Amid efforts to freeze the stolen funds and recover users’ assets, reXx has also launched an investigation into demystifying the Terraport hack. As part of this investigation, he requested that TerraCVita release the Terraport code to enable him and others to ascertain the cause of the exploit.

I would advise @_Terraport_ and @TerracVita to release the code of Terraport along with transparency of the audit. The code of $TERRA will tell us everything that we need to know and it's been many hours since the "hack". Yet, there has been no code presented anywhere.

— reXx™ (@CosmoSreXx) April 10, 2023

Furthermore, reXx disclosed yesterday that he discovered 3 wallets within the Terraport code that executed the hack – a finding which raised questions. He noted that the discovery was found in an encrypted section, and he still needs the source code to know what led to the hack.

There are 3 specific wallet addresses that was located in the @_Terraport_ code.
terra17ytfeva5uadnhcvhgxfkvyfmt6daues7nkr9r2 terra1z5luj6qdtclnt5jnjkrtnlj9zankf654638dq2 terra19yrq0mehjfk5cquxn4svjxft4rmhcc9g8t0yma
These 3 wallets executed the exploit. How it got in there? ?‍♂️

— reXx™ (@CosmoSreXx) April 10, 2023

However, TerraCVita maintains that an insider did not carry out the hack. The development group disclosed in the official community Telegram group that they are in close contact with Binance and other exchanges to provide relevant information needed for the investigations. Meanwhile, the Terraport Finance platform has been temporarily suspended.