Attackers stole tokens from Terra's blockchain using the IBC hooks vulnerability

On July 31, Terra Blockchain reported a security breach on its network that led to token theft, The Block reported.
An unknown attacker exploited a known vulnerability related to a third-party module called IBC hooks, which is used for cross-chain contract calls and token transfers.
The attacker used this vulnerability to steal USDC Stablecoin and Astroport tokens from bridged assets. Initial estimates indicate that approximately $3 million worth of tokens may have been affected.
Upon discovery of this incident, Terra took emergency measures to prevent further losses and to ensure that no additional tokens were stolen while the vulnerability was being remediated. terra, in coordination with its verifiers, has applied an emergency patch to fix the suspected vulnerability.
We will work with Terra's validators to apply an emergency patch to fix the suspected vulnerability thereafter, Terra said.