Senior TerraCVita member Rex “Rexyz” Harrison has offered a plan to lock up an estimated $2 million taken in the Terraport hack. An emergency code upgrade that locks up the designated assets is proposed, and it is seeking community consensus for it.
2 million Dollars Stolen from Terraport Hack. Lock Up Proposal from Terra Classic
In order to help Terraport users and investors recover their lost funds, proposal 11488 was created. Perpetrators will not be able to move funds from Terra Classic, as the assets will be locked when the code is applied. Again, the code will prevent the complete loss of assets if funds are potentially taken off-chain.
“Every minute these are not locked gives the attackers a chance to move them. It (the proposal) also tells criminals that we will stand up for what is right and not sit back and let them get away with stolen funds when it is in our power to prevent this,”
Rex
Rex’s Statement
Rex suggested that TerraCVita draft a follow-up proposal to explore possibilities for compensating the impacted users if Proposal 11488 is accepted by the community and the assets are locked up. The community will be consulted while the new proposal is created.
“I can also confirm that the combined efforts of several exchanges, including KuCoin, Binance, MEXC, and SimpleSwap, have resulted in the locking up of £1 million found in off-chain wallets out of the total $4 million stolen,”
Rex
He also guaranteed that the exchanges would release the locked funds when it was time.
Rex claims that a thorough investigation into the Terraport attack is currently in progress, with Binance playing an enormous role in the investigation. A recognized criminal organization carried out the strike, according to the inquiry. TerraCVita previously made this information public.
Terra Classic Community Responses
The plan has received feedback from the Terra Classic community. However, the majority of supporters are opposed to it. In the seven days before the proposal expires, 97% of votes have been cast in favor of “No with Veto.” Only 0.91% of voters chose “Yes,” compared to 1.93% who chose “No.”
Numerous opponents of the plan have said that TerraCVita was careless in failing to conduct a comprehensive code audit before releasing Terraport. Some contend that the wider Terra Classic community should not be contacted to correct a private group’s error.
On the other hand, some community members, such as Classy, a well-known content creator, have said they will vote yes. Classy tweeted about this on his Twitter account.
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