Terra Blockchain recently experienced several
exploits leading to millions in losses, as well as the suspension and later resumption of operations. The
hack incidents triggered a sharp decline in the price of ASTRO token. Amid this turmoil, Terraform Labs, the company behind Terra, faced bankruptcy allegations. Despite the turbulent period, both Terra coins LUNA and LUNC experienced a surge after a settlement with SEC.
Terra Labs plans to reopen Shuttle Bridge and destroy LUNA tokens, seeking to recover amid controversies.
Terra Luna Classic saw a staking boom after an upgrade.
Do Kwon, the founder of Terraform Labs, faced a civil lawsuit for fraud allegations. However, Kwon won an extradition appeal in Montenegro, offering some respite for Terra. Terraform Labs decided to conclude its operations, and the Terra community will take control.
Terra Classic's price is speculated to rise following key proposal voting and a renewed interest in LUNC staking. Nonetheless, Terra's tumultuous journey underlines the risks associated with investing in crypto, especially altcoins.
Terra Coin News Analytics from Wed, 29 Nov 2023 08:00:00 GMT to Wed, 31 Jul 2024 15:45:25 GMT -
Rating -1
- Innovation -2
- Information 2
- Rumor -1
