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HomeCrypto NewsMarketInvestigations Uncover 6B+ LUNC Linked to Terra Classic Hack

Investigations Uncover 6B+ LUNC Linked to Terra Classic Hack


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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.


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.


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.


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.


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.

LUNC hack
Source telegram

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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