Terra freezes domains to combat phishing schemes

Terraform Labs, the company behind the Terra blockchain, hired a new CEO in July

August 22, 2023 10:19 am

Pormezz/Shutterstock modified by Blockworks

Blockchain protocol Terra has frozen its domains to “prevent further user phishing scams,” however, the situation hasn’t been fully resolved.

This action was taken after Terra’s website was taken over by hackers over the weekend. Currently, the site is down.

“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 posted Sunday on X, formerly known as Twitter.

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The layer-one blockchain has not yet revealed how much was stolen from compromised wallets on its platform.

Terra did continue to urge its users not to engage with terra(dot)money domains until an “all clear notice” is posted on its X account.

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Station Wallet, Terra’s main wallet extension, also posted a warning to its users on X Monday night.

“Please refrain from using the Station desktop and mobile apps until we confirm their safety. An announcement will be posted as soon as they have been updated,” Station Wallet wrote in a thread.

Station also said that the Chrome extension has been updated to “counteract phishing attempts” and is now safe to use.

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In May 2022, Terra’s algorithmic stablecoin UST collapsed, which catalyzed a wipeout of $800 billion in value from crypto markets.

Months later, South Korea issued an arrest warrant for Terraform Labs founder Do Kwon. He was arrested in Montenegro in March 2023, and now the US and South Korea are fighting to extradite him.

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