Terra Blockchain Takes Action to Safeguard Users Amid Phishing Scam Threats
Summary:
Terra temporarily shuts down website to protect users from ongoing phishing scams as the platform works to resolve the issue. Users advised to avoid engaging with affected domains until an official notice is released. Station Wallet also issues safety updates. Terra faces challenges following previous ecosystem collapse, with market capitalization decreasing amid recent hacking incident. Critics show little sympathy due to platform's history of issues.
Cybersecurity concerns prompt temporary shutdown of Terra blockchain's website
Terra, a Layer-1 blockchain platform, has taken the precautionary measure of temporarily shutting down its website to protect users from ongoing phishing scams. The domain "terra(dot)money" has been frozen to prevent further scams, but the platform is still working on a complete resolution. In the meantime, users are advised to refrain from engaging with any sites under this domain until an official "all-clear" notice is issued by Terra. The team is working diligently to address the issue, although some delays have been encountered with third-party responses. Additionally, updates have been provided regarding the multichain wallet Station Wallet, offering increased safety and security measures for users. Users are urged to avoid using Station desktop and mobile apps until the wallet confirms their safety. Further assistance is available through updated browser extensions and apps provided by Station Wallet. These steps come in response to recent phishing attacks on the Terra website, where hackers attempted to scam users. The Terra community is recovering from previous setbacks, including the collapse of the Terra digital ecosystem in May 2022, which had resulted in a $40 billion loss for the crypto industry. Despite these challenges, Terra 2.0 was launched by a dedicated group of enthusiasts focused on reclaiming lost funds. At present, Terra's market capitalization stands at approximately $152.7 million, with the token (LUNA) experiencing a significant decline of 22% over the past seven days. Over the past year, the token has seen a decrease of more than 70%. Some industry observers have shown little sympathy towards those affected by Terra's recent issues, highlighting the platform's history of problems.
Published At
8/22/2023 9:05:36 AM
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