Attackers use IBC hooks related vulnerabilities to steal about $3 million of tokens on the Terra chain

Terra Blockchain has reported a security bugs on its network. The unknown attacker exploited a known vulnerability related to the third-party module IBC hooks, which is used for cross-chain contract invocation and token transfer.
The attackers exploited this vulnerability to steal funds from bridge assets, including USDC and Astroport tokens. Preliminary estimates suggest that around $3 million worth of tokens could be affected.
After discovering the incident, Terra implemented emergency measures to prevent further damage and ensure that no additional tokens were stolen while the breach was addressed.