Terra, a crypto project that collapsed last year, has alerted its remaining users to “stay away from sites with the terra(dot)money domain” until it says otherwise. The domain was reportedly hacked and used for phishing scams.
Problems Continue to Hinder Terra’s Recovery
Web3 developer and X user Kiruse said today that the site was “still a phishing site” and warned users not to input their seed phrase. Terra’s official X account told its users to only check its official Channels at X, Telegram, and Discord for updates.
🚨 @terra_money WEBSITE IS CURRENTLY A PHISHING SITE 🚨 DO NOT ENTER YOUR SEED PHRASE 🚨
Latest Station Extension update is safu – for now.
But to be absolutely certain: DO NOT USE STATION. Either wait until this is all over, or import your seed phrase into a different wallet. pic.twitter.com/28GJ4GNKp5
— Kiruse (@0xKiruse) August 21, 2023
The site’s status has been unclear since Terra announced the issue on August 19. Terra said that “sites are coming back online,” but two days later, there’s still no official confirmation that the issue has been fixed.
The attackers have taken over the official website and are using it to obtain sensitive user information. They are tricking users into revealing their seed phrase, which puts the security of their keys and funds in grave danger.
Furthermore, the attackers are continuing to harm users by impersonating the standard update pop-up on the malicious website. At the time of writing, the price of Terra (LUNA) was US$0.433126, a decrease of 2.8% in the last 24 hours.
Despite the issues with Terra’s domain, the company’s blockchain infrastructure is reportedly still secure. Terra and its parent company, Terraform Labs, have faced a series of problems since their collapse in May of last year.
In April, Terra’s co-founder Daniel Shin was charged in South Korea with several offenses, including violations of capital markets law. Nine other individuals were also charged, and authorities froze a total of 247 billion won ($185 million).
In July, a New York judge rejected a motion to dismiss by Terraform Labs in its ongoing case with the Securities and Exchange Commission (SEC). The judge dismissed claims by Terraform Labs and its founder Do Kwon that the agency lacked jurisdiction and that the TerraUSD stablecoin was not a security.