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{"actor":"system:backfill","investigation_id":"960aad20-b4eb-472f-aa41-d2a11da02d25","kind":"publish","page_slug":"astroport","published_at":"2026-06-01T17:46:58.995Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Astroport","sections":[{"content":"Astroport launched on Terra Classic in December 2021 as the successor to Terraswap, designed to be the premier liquidity hub for the Terra DeFi ecosystem. The protocol was developed through a joint venture of Delphi Labs, Terraform Labs, We3, and Attic Lab — four entities representing approximately 24 individual builders. At launch, approximately $1.2 billion in liquidity was migrated from Terraswap to Astroport's smart contracts. The protocol introduced multiple specialized pool types and routing mechanisms, along with the ASTRO governance token. Astroport was incubated with support from Delphi Digital and IDEO CoLab Ventures and was designed with the Astral Assembly — a token-weighted governance council — as the on-chain decision-making body for protocol upgrades and treasury disbursements.","heading":"Origins and Terra Ecosystem Launch","severity":"low","sources":[{"credibility":2,"name":"Introducing Astroport: A Next-Generation AMM on Terra — Astroport Medium","type":"official","url":"https://astroport.medium.com/introducing-astroport-a-next-generation-amm-on-terra-119d94a061e4"},{"credibility":2,"name":"All you should know about Astroport — CryptoSlate","type":"news_article","url":"https://cryptoslate.com/all-you-should-know-about-astroport-amm-built-to-become-terra-ecosystems-defi-liquidity-hub/"},{"credibility":2,"name":"Astroport Litepaper — Astroport Medium","type":"official","url":"https://astroport.medium.com/astroport-litepaper-1fab783b77b5"}]},{"content":"The catastrophic depeg of TerraUSD (UST) beginning on May 7, 2022, and the subsequent hyperinflationary collapse of LUNA, destroyed the entire Terra ecosystem's total value locked, which fell from approximately $21 billion to under $300 million within one week. As Terra's primary DEX, Astroport was among the hardest-hit protocols. Astroport's trading volume, which had stood at $350 million on May 9, 2022, briefly surged to approximately $1 billion on May 11 as panicked users attempted to exit positions, then collapsed to $16 million by May 13 — roughly one-twentieth of pre-crisis levels. The protocol's TVL tracked the broader ecosystem collapse, losing roughly 99% of its value. Astroport was not directly exploited during the collapse; the damage was a direct consequence of the ecosystem-level failure of UST and LUNA rather than any vulnerability in Astroport's own smart contracts. On May 11, 2022, the Astroport team publicly acknowledged the crisis and called on the community to discuss the protocol's future.","heading":"Terra/Luna Ecosystem Collapse — May 2022","severity":"critical","sources":[{"credibility":2,"name":"No Egg Stays Unbroken When the Nest is Overturned — Bitcoinist / ViaBTC Capital","type":"news_article","url":"https://bitcoinist.com/viabtc-capital%EF%BD%9Cno-egg-stays-unbroken-when-the-nest-is-overturned-where-are-terra-powered-projects-heading/"},{"credibility":1,"name":"Interconnected DeFi: Ripple Effects from the Terra Collapse — Federal Reserve FEDS Notes","type":"regulatory","url":"https://www.federalreserve.gov/econres/feds/files/2023044pap.pdf"},{"credibility":2,"name":"Terra LUNA Collapse Triggers Contagion Across DeFi — Crypto News Australia","type":"news_article","url":"https://cryptonews.com.au/news/terra-luna-collapse-triggers-contagion-across-defi-94741/"}]},{"content":"On July 30, 2024, the Terra (Phoenix) blockchain was exploited via a reentrancy vulnerability in the IBC hooks timeout callback, resulting in losses of approximately $6.4 million from Astroport's contracts. The attacker stole 60 million ASTRO tokens, 3.5 million USDC, 500,000 USDT, and 2.7 BTC. The vulnerability had originally been disclosed and patched in April 2024 across Cosmos chains, but was accidentally reintroduced when Terra deployed an outdated version of the ibc-go library during a June 2024 upgrade that lacked the critical security fix. The attacker deployed a malicious CosmWasm contract, initiated an IBC transfer that timed out, then recursively executed the MsgTimeout inside the IBC hook OnTimeout callback before the packet commitment was deleted — a classic reentrancy pattern enabling token minting from nothing. Warnings about this vulnerability class had been raised by Cosmos ecosystem contributor Jacob Gadikian prior to the exploit but were not acted upon in time. Terra validators halted the chain within hours and coordinated an emergency upgrade. Approximately 20 million ASTRO remaining on Terra were blacklisted, and 33 million ASTRO that had been bridged to Neutron were seized via TokenFactory Force Transfer and transferred to the Astroport treasury. ASTRO's token price fell approximately 56% in the immediate aftermath. Post-mortem analysis noted that SEC regulatory actions against Terraform Labs may have reduced the development team's effective capacity, potentially contributing to the oversight that reintroduced the vulnerability.","heading":"July 2024 IBC Hooks Reentrancy Exploit — $6.4 Million Lost","severity":"critical","sources":[{"credibility":2,"name":"Astroport — Rekt News","type":"news_article","url":"https://rekt.news/astroport-rekt"},{"credibility":2,"name":"Did a Previously Patched Vulnerability Lead to Astroport's $6.4M Exploit? — QuillAudits","type":"research","url":"https://www.quillaudits.com/blog/hack-analysis/astroport-hack"},{"credibility":2,"name":"Terra IBC Hooks Exploit Analysis — Range Security","type":"research","url":"https://www.range.org/blog/terra-ibc-hooks-exploit-analysis"},{"credibility":1,"name":"Attacker exploits IBC hooks vulnerability to steal tokens on Terra — The Block","type":"news_article","url":"https://www.theblock.co/post/308440/attacker-exploits-ibc-hooks-vulnerability-to-steal-tokens-on-terra-blockchain"},{"credibility":2,"name":"Terra Exploit Causes 60% Drop in Astroport (ASTRO) Price — BeInCrypto","type":"news_article","url":"https://beincrypto.com/terra-exploit-causes-drop-in-astroport-astro/"}]},{"content":"Following the Terra/Luna collapse, Astroport's team rebuilt the protocol and pursued a multi-chain strategy across the Cosmos IBC ecosystem. The protocol launched on Neutron — a CosmWasm smart contract chain secured by the Cosmos Hub — in June 2023, and on August 15, 2023, Astroport became the first DEX live on Sei mainnet. It also expanded to Injective. On April 12, 2024, Astroport completed the migration of its governance and staking hub from Terra to Neutron, launching vxASTRO (Voting Escrowed ASTRO), which grants xASTRO lockers exclusive voting power over future ASTRO emissions. As of mid-2025, Astroport operates across five chains: Neutron (dominant, ~$24.9M TVL), Terra 2.0 (~$3.5M TVL), Sei (~$426K TVL), Injective (~$262K TVL), and Osmosis (~$81K TVL), for a combined TVL of approximately $29.2 million — a fraction of the protocol's peak TVL during the original Terra era. The protocol claims to be the largest AMM by TVL on each of its deployed chains.","heading":"Multi-Chain Relaunch and Expansion (2022–2024)","severity":"medium","sources":[{"credibility":2,"name":"The Next Chapter: Astroport's Migration to Neutron — Neutron Medium","type":"news_article","url":"https://medium.com/@Neutron.org/the-next-chapter-astroports-migration-to-neutron-7a5e2dbd4b37"},{"credibility":2,"name":"Astro(re)port #6: Astroport live on Sei — Astroport Blog","type":"official","url":"https://blog.astroport.fi/post/astro-re-port-6-astroport-live-on-sei-the-end-of-liquidity-fragmentation-astro-buybacks-and-more"},{"credibility":2,"name":"Astroport TVL, Fees, Revenue and Volume — DefiLlama","type":"on_chain","url":"https://defillama.com/protocol/astroport"},{"credibility":2,"name":"Astro(re)port #7: Governance Migration to Neutron, vxASTRO — Astroport Blog","type":"official","url":"https://blog.astroport.fi/post/astro-re-port-7-astroport-to-migrate-governance-and-staking-to-neutron-and-launch-vxastro-all-time-volume-records-pcl-deployments-and-more"}]},{"content":"The ASTRO token has a maximum supply of 1.1 billion tokens, increased from an original 1 billion at the Terra 2.0 relaunch, with the additional 100 million tokens designated exclusively for liquidity incentives. Thirty percent of the supply was allocated to the four builder entities (Delphi Labs, Terraform Labs, We3, and Attic Lab) and their service providers. ASTRO hit an all-time high of approximately $0.355 in January 2024 following the multi-chain expansion and renewed AstroWars gauge activity, but as of mid-2025 trades near $0.001 — a decline of roughly 99.7% from peak. The token lost approximately 99.87% of its value in 2022 alone. The protocol's market capitalization as of mid-2025 is approximately $425,000, ranking outside the top 3,900 tokens by market cap on CoinGecko. Builder token unlock delays were implemented voluntarily during the recovery period. The significant builder allocation and the near-total price depreciation represent notable ongoing concerns for retail participants.","heading":"ASTRO Token Economics and Price Performance","severity":"high","sources":[{"credibility":2,"name":"Astroport Token Allocation — Astroport Docs","type":"official","url":"https://docs.astroport.fi/docs/learn/astro-tokenomics/allocation"},{"credibility":2,"name":"Astroport development and ASTRO builder allocation — Astroport Medium","type":"official","url":"https://astroport.medium.com/astroport-development-and-astro-builder-allocation-d112cd51ba61"},{"credibility":2,"name":"Astroport (ASTRO) Price — CoinGecko","type":"on_chain","url":"https://www.coingecko.com/en/coins/astroport-fi"},{"credibility":2,"name":"Astroport builders delay governance token unlocks by six months — Astroport Blog","type":"official","url":"https://blog.astroport.fi/post/astroport-builders-delay-governance-token-unlocks-by-six-months"}]},{"content":"Astroport was built by an unincorporated joint venture of four entities: Delphi Labs, Terraform Labs, We3, and Attic Lab, along with approximately 24 individual contributors. The team did not publicly identify individual members prior to the Terra collapse; the anonymous nature of the team was noted at the time of the crisis. Subsequently, contributors established the Astroport Foundation to provide a more formal entity for ongoing protocol development. Governance is conducted on-chain through the Astral Assembly, with xASTRO and vxASTRO holders voting on protocol parameters, upgrades, and treasury allocations. The connection to Terraform Labs — which faced SEC enforcement action in 2023 charging founder Do Kwon and the company with fraud — is a noted reputational and structural risk factor, though Terraform Labs' role in Astroport was as a builder-contributor rather than a controlling party. Delphi Labs, the primary ongoing technical contributor, has a publicly known identity and track record in the Cosmos ecosystem.","heading":"Team Transparency and Governance Structure","severity":"medium","sources":[{"credibility":2,"name":"Astroport development and ASTRO builder allocation — Astroport Medium","type":"official","url":"https://astroport.medium.com/astroport-development-and-astro-builder-allocation-d112cd51ba61"},{"credibility":2,"name":"Astroport contributors establish foundation — Astroport Blog","type":"official","url":"https://blog.astroport.fi/post/astroport-contributors-establish-foundation-to-power-new-protocol-development"},{"credibility":2,"name":"Collapse of Terra blockchain ecosystem forces talent migration — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/collapse-of-terra-blockchain-ecosystem-forces-talent-migration"}]},{"content":"Astroport's smart contracts have been audited by multiple security firms. Halborn conducted a CosmWasm smart contract security assessment beginning March 7, 2022, identifying several issues including a phishing URL risk in the governance contract and a voting power calculation inconsistency — findings that were addressed by the team. Oak Security conducted multiple audits including an Astroport IBC v1.0 assessment. Audit reports are publicly available in the Astroport audits GitHub repository. Despite these audits, the July 2024 IBC hooks reentrancy exploit demonstrated that infrastructure-level vulnerabilities outside the scope of AMM-specific audits remained a material risk, particularly in the context of a reduced development team. The exploit was a chain-level vulnerability in Terra's ibc-go implementation rather than a flaw in Astroport's own contracts, but the impact fell directly on Astroport's liquidity pools.","heading":"Security Audits","severity":"medium","sources":[{"credibility":2,"name":"Astroport Audits — Astroport Docs","type":"official","url":"https://docs.astroport.fi/docs/overview/security/audits"},{"credibility":2,"name":"Halborn Audit of Astroport.fi Astral Assembly","type":"research","url":"https://www.halborn.com/audits/astroport-fi/astroport-fi-astral-assembly-cosmwasm-smart-contract-security-assessment"},{"credibility":2,"name":"Astroport AMM Protocol Halborn Audit PDF — GitHub","type":"research","url":"https://github.com/astroport-fi/astroport-audits/blob/main/halborn/Astroport_fi_AMM_Protocol_CosmWasm_Smart_Contract_Security_Audit.pdf"}]}],"sources_used":[{"name":"Introducing Astroport: A Next-Generation AMM on Terra — Astroport Medium","type":"official","url":"https://astroport.medium.com/introducing-astroport-a-next-generation-amm-on-terra-119d94a061e4"},{"name":"Astroport Litepaper — Astroport Medium","type":"official","url":"https://astroport.medium.com/astroport-litepaper-1fab783b77b5"},{"name":"All you should know about Astroport — CryptoSlate","type":"news_article","url":"https://cryptoslate.com/all-you-should-know-about-astroport-amm-built-to-become-terra-ecosystems-defi-liquidity-hub/"},{"name":"No Egg Stays Unbroken — Bitcoinist / ViaBTC Capital","type":"news_article","url":"https://bitcoinist.com/viabtc-capital%EF%BD%9Cno-egg-stays-unbroken-when-the-nest-is-overturned-where-are-terra-powered-projects-heading/"},{"name":"Interconnected DeFi: Ripple Effects from the Terra Collapse — Federal Reserve FEDS Notes","type":"regulatory","url":"https://www.federalreserve.gov/econres/feds/files/2023044pap.pdf"},{"name":"Astroport — Rekt News","type":"news_article","url":"https://rekt.news/astroport-rekt"},{"name":"Did a Previously Patched Vulnerability Lead to Astroport's $6.4M Exploit? — QuillAudits","type":"research","url":"https://www.quillaudits.com/blog/hack-analysis/astroport-hack"},{"name":"Terra IBC Hooks Exploit Analysis — Range Security","type":"research","url":"https://www.range.org/blog/terra-ibc-hooks-exploit-analysis"},{"name":"Attacker exploits IBC hooks vulnerability to steal tokens on Terra — The Block","type":"news_article","url":"https://www.theblock.co/post/308440/attacker-exploits-ibc-hooks-vulnerability-to-steal-tokens-on-terra-blockchain"},{"name":"Terra Exploit Causes 60% Drop in Astroport (ASTRO) Price — BeInCrypto","type":"news_article","url":"https://beincrypto.com/terra-exploit-causes-drop-in-astroport-astro/"},{"name":"The Next Chapter: Astroport's Migration to Neutron — Neutron Medium","type":"news_article","url":"https://medium.com/@Neutron.org/the-next-chapter-astroports-migration-to-neutron-7a5e2dbd4b37"},{"name":"Astro(re)port #6: Astroport live on Sei — Astroport Blog","type":"official","url":"https://blog.astroport.fi/post/astro-re-port-6-astroport-live-on-sei-the-end-of-liquidity-fragmentation-astro-buybacks-and-more"},{"name":"Astro(re)port #7: Governance Migration to Neutron — Astroport Blog","type":"official","url":"https://blog.astroport.fi/post/astro-re-port-7-astroport-to-migrate-governance-and-staking-to-neutron-and-launch-vxastro-all-time-volume-records-pcl-deployments-and-more"},{"name":"Astroport TVL, Fees, Revenue and Volume — DefiLlama","type":"on_chain","url":"https://defillama.com/protocol/astroport"},{"name":"Astroport (ASTRO) Price — CoinGecko","type":"on_chain","url":"https://www.coingecko.com/en/coins/astroport-fi"},{"name":"Astroport Token Allocation — Astroport Docs","type":"official","url":"https://docs.astroport.fi/docs/learn/astro-tokenomics/allocation"},{"name":"Astroport development and ASTRO builder allocation — Astroport Medium","type":"official","url":"https://astroport.medium.com/astroport-development-and-astro-builder-allocation-d112cd51ba61"},{"name":"Astroport builders delay governance token unlocks — Astroport Blog","type":"official","url":"https://blog.astroport.fi/post/astroport-builders-delay-governance-token-unlocks-by-six-months"},{"name":"Astroport contributors establish foundation — Astroport Blog","type":"official","url":"https://blog.astroport.fi/post/astroport-contributors-establish-foundation-to-power-new-protocol-development"},{"name":"Halborn Audit of Astroport.fi Astral Assembly","type":"research","url":"https://www.halborn.com/audits/astroport-fi/astroport-fi-astral-assembly-cosmwasm-smart-contract-security-assessment"},{"name":"Astroport Audits — Astroport Docs","type":"official","url":"https://docs.astroport.fi/docs/overview/security/audits"},{"name":"Collapse of Terra blockchain ecosystem forces talent migration — CoinTelegraph","type":"news_article","url":"https://cointelegraph.com/news/collapse-of-terra-blockchain-ecosystem-forces-talent-migration"}],"summary":"Astroport is an automated market maker (AMM) DEX originally launched on the Terra blockchain in December 2021, developed by a joint venture of Delphi Labs, Terraform Labs, We3, and Attic Lab. The protocol suffered catastrophic TVL loss during the May 2022 Terra/Luna ecosystem collapse and was subsequently rebuilt as a multi-chain AMM spanning Neutron, Sei, Injective, and Terra 2.0. In July 2024, Astroport was directly exploited via a reentrancy vulnerability in IBC hooks on the Terra chain, resulting in approximately $6.4 million in losses.","timeline":[{"date":"2021-12-01","event":"Astroport launches on Terra Classic as the primary AMM, with approximately $1.2 billion in liquidity migrated from Terraswap.","source":"Astroport Medium / CryptoSlate","source_url":"https://cryptoslate.com/all-you-should-know-about-astroport-amm-built-to-become-terra-ecosystems-defi-liquidity-hub/"},{"date":"2022-03-18","event":"Halborn completes security audit of Astroport CosmWasm smart contracts, identifying governance phishing and voting power issues.","source":"Halborn Audit Reports","source_url":"https://www.halborn.com/audits/astroport-fi/astroport-fi-astral-assembly-cosmwasm-smart-contract-security-assessment"},{"date":"2022-05-09","event":"UST begins to depeg, triggering the Terra/Luna collapse. Astroport trading volume surges to $1 billion on May 11 before collapsing to $16 million by May 13.","source":"ViaBTC Capital / Bitcoinist","source_url":"https://bitcoinist.com/viabtc-capital%EF%BD%9Cno-egg-stays-unbroken-when-the-nest-is-overturned-where-are-terra-powered-projects-heading/"},{"date":"2022-05-11","event":"Astroport team publicly calls on the community to discuss the protocol's future amid the Terra ecosystem collapse.","source":"ViaBTC Capital / Bitcoinist","source_url":"https://bitcoinist.com/viabtc-capital%EF%BD%9Cno-egg-stays-unbroken-when-the-nest-is-overturned-where-are-terra-powered-projects-heading/"},{"date":"2023-06-05","event":"Astroport launches AMM on Neutron mainnet, beginning its multi-chain expansion across the Cosmos IBC ecosystem.","source":"Neutron Medium","source_url":"https://medium.com/@Neutron.org/the-next-chapter-astroports-migration-to-neutron-7a5e2dbd4b37"},{"date":"2023-08-15","event":"Astroport goes live as the first DEX on Sei mainnet.","source":"Astroport Blog","source_url":"https://blog.astroport.fi/post/astro-re-port-6-astroport-live-on-sei-the-end-of-liquidity-fragmentation-astro-buybacks-and-more"},{"date":"2023-10-08","event":"Astroport stakers vote to migrate protocol governance and staking hub from Terra to Neutron.","source":"Astroport Blog","source_url":"https://blog.astroport.fi/post/astro-re-port-7-astroport-to-migrate-governance-and-staking-to-neutron-and-launch-vxastro-all-time-volume-records-pcl-deployments-and-more"},{"date":"2024-01-11","event":"ASTRO token reaches all-time high of approximately $0.355 amid renewed multi-chain activity and AstroWars gauge emissions.","source":"CoinGecko","source_url":"https://www.coingecko.com/en/coins/astroport-fi"},{"date":"2024-04-12","event":"Astroport completes governance migration to Neutron and launches vxASTRO (Voting Escrowed ASTRO).","source":"Astroport Blog","source_url":"https://blog.astroport.fi/post/astro-re-port-7-astroport-to-migrate-governance-and-staking-to-neutron-and-launch-vxastro-all-time-volume-records-pcl-deployments-and-more"},{"date":"2024-07-30","event":"Terra blockchain exploited via IBC hooks reentrancy vulnerability, draining approximately $6.4M from Astroport (60M ASTRO, 3.5M USDC, 500K USDT, 2.7 BTC). ASTRO price drops ~56%. Terra chain halted for emergency upgrade. Attacker's stolen ASTRO partially frozen and seized via TokenFactory Force Transfer on Neutron.","source":"Rekt News / QuillAudits / The Block","source_url":"https://rekt.news/astroport-rekt"}]},"v":1}