Due to the impact of a suspected vulnerability, Terra’s blockchain was temporarily halted at block height 11430400, and user transactions were not processed during this period. This caused a significant disruption in the Terra ecosystem and worried crypto investors.

According to Terra’s official This indicates a rapid response to the vulnerability and the necessary steps to resolve the issues.

According to the statement made by Cyvers Alerts, the consequences of the vulnerability were quite far-reaching.

The stolen assets include approximately 60 million Astroport (ASTRO) tokens, 3.5 million USD Coin tokens, 500,000 Tether tokens and 2.7 Bitcoin.

This massive asset loss caused a dramatic crash in the Astro token price. As of 03:00 UTC on July 31, the price dropped from $0.045 to $0.01313.

Before the news spread, it was stated that the 60 million stolen Astro tokens were worth approximately $2.7 million. However, as the token price stabilized, this amount has now dropped to approximately $1.08 million. This indicates a large loss in the market value of the token and poses a huge risk for investors.

This event led to the Astroport decentralized marketplace falling to an all-time low (ATL). This was a major turning point for investors and the market.

On June 12, Terraform Labs agreed to pay a settlement of approximately $4.47 billion to the U.S. Securities and Exchange Commission (SEC). That settlement included a $3.6 billion restitution penalty, a $420 million civil penalty, and approximately $467 million in prejudgment interest.

According to the settlement plan, former CEO Do Kwon was held responsible for the collapse of the Terra ecosystem and had a liability of approximately $204 million. This crash resulted in a massive loss of $40 billion for investors. On July 19, Terraform Labs announced that it would reopen the Shuttle Bridge. This is a step that will allow users to claim assets locked on the Terra Classic blockchain.

In a post shared on Users were given 30 days to claim their closed assets through the Shuttle Bridge wallet.

At the end of that period, the Bridge will be permanently shut down and any remaining assets will be destroyed, according to the post. This process is considered a critical step for restructuring the Terra ecosystem and regaining investors’ trust.