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HomeCrypto NewsMarketreXx Says Terra Classic Incident is a Rugpull, Not a Hack

reXx Says Terra Classic Incident is a Rugpull, Not a Hack


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reXx made these claims after an in-depth investigation into the latest Terra classic (LUNC) incident.

@CosmoSreXx, commonly known as reXx, a prominent community member, has alleged that the Terraport incident is a rug pull and not a hack, as popularly described. These claims emerged after an in-depth investigation into the event’s cause.

Immediately after the event, reXx already had his doubts, especially because he called attention to multiple security breaches on the Terraport platform’s code as far back as April 2, but the alarms fell on deaf ears. reXx even suggested that Terraport undertake a Certik audit, but this was not acted upon.


Amid the investigation into the event, reXx discovered that three wallets found inside the Terraport code were responsible for the exploit, this further heightened suspicions that it was an insider job. However, he acknowledged that this was not a conclusive finding and that access to the source code would be necessary to verify it.

Following further discoveries, reXx insisted that the source code be made public. Nonetheless, his request was not granted by the Terraport team. The developer later concluded that it was an insider job. However, he clarified that he is not alleging the involvement of the entire Terraport or TerraCVita team but rather that it traces back to whoever coded the Terraport DEX.


reXx further narrowed the event’s originator to a single Terra Classic wallet. According to him, the owner of the wallet in question is responsible for the incident. He noted that the rug was implanted into the Platform’s code as far back as January, and the team should have identified it since then.


Community Reactions

However, Terraport insisted yesterday that an insider did not carry out the incident. The recent disclosures have elicited mixed reactions from the Terra Classic community. LUNC DAO, a unique Terra Classic validator, particularly, agrees to reXx’s claims.

LUNC DAO alleged that the event was carried out by at least one person from the Terraport team, taking into account the LUNC wallet identified to have caused it. He mentioned that the wallets involved belonged to team members, and the Terraport platform was coded with the wallets embedded in them.

He pointed out two wallets, claiming that the one reXx highlighted was the original thief, while the second wallet belonged to an accomplice or someone who was not directly involved in the theft but was somewhat negligent.

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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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