Infamous blockchain protocol Terra has recently been allegedly exploited due to a vulnerability that was revealed months ago.
According to a Cyvers Alerts post on X today, July 31, hackers have stolen 60 million ASTRO, 3.5 million USDC, 500,000 USDT and 2.7 Bitcoin 
btc0.41%Bitcoin from the Terra blockchain. The total amount of reported losses has reached roughly $6.8 million.
Per the blockchain security company, hackers found a vulnerability in the network’s timeout callback of IBC hooks. This allows the attackers to execute a transaction repetitively that might potentially result in the loss of funds or minting extra tokens.
Cyvers Alerts claims that this vulnerability was “revealed in April of this year.”
Just hours before Cyvers Alerts’ X post, Terra’s official X page posted that the network was halted to “apply an emergency patch” due to an alleged exploit.