Decentralized finance (DeFi) project Mirror Protocol has been reportedly suffering an ongoing exploit over the past couple of days that allowed bad actors to drain four synthetic asset pools from the protocol, with the potential to drain funds from all other pools in the coming days. Mirror, however, reportedly ‘averted the crisis’. (Updated at…
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South Korean media outlets say they have unearthed evidence that a blockchain firm based in Seoul has a close relationship with Terraform Labs – and may have been developing for the Terra network under the radar. But the plot may already have thickened – with allegations that the National Tax Service (NTS) found evidence…
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The South Korean government will step up the launch of a new regulatory body to police the crypto sector – and could fast-track its creation as a direct response to what it has dubbed the “terra (LUNA) incident.” In an exclusive article, Newspim reported that the body, to be named the Digital Assets Committee…
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The price of the new Terra chain’s native token LUNA rose in the market on Tuesday, as the major exchange Binance airdropped it to users and listed it for trading earlier in the morning. At the time of writing (09:37 UTC), LUNA traded at USD 8.54, up a massive 43.1% in the past 24…
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At least three blockchains have publicly announced that their teams’ arms are open wide ready to accept any stray former Terra developers following the collapse of its ecosystem. The collapse of the Terra ecosystem, which included most of its apps and protocols, has created a diaspora of developers from which opportunistic blockchain companies are hoping…
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Overall, however, the price has tanked 56% since launching on the weekend at an opening price of $18.87. The price of Terra (LUNA) briefly spiked around 90% overnight to an intraday high of $11.33 ahead of Binance’s airdrop but has since dropped back to around $8.26 at the time of writing. At current prices, as…
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The total crypto market capitalization recovered roughly 5%, but a variety of trading metrics show investors are skeptical about the rally being a trend change. On May 30, the total crypto market capitalization gained 4% and currently is within reach of a $1.3 trillion market capitalization. The move was enough to erase the losses from…
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South Korea’s five biggest crypto exchanges have vowed to create a “joint response council” to avoid a repeat of what the media and politicians in the country have labeled the “terra (LUNA) incident.”… Read More: South Korean Crypto Exchanges Form Joint Response Council to Avoid Repeat of LUNA ‘Incident’ Read more »Pay, Trade, Buy…
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The new Terra (LUNA) blockchain went live on Saturday, with the newly airdropped LUNA token seeing extremely volatile trading on its first day, before stabilizing and gaining some ground later in the weekend. Despite having become a controversial project, the new LUNA token can already be traded on a number of large exchanges…. Read…
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South Korean authorities are reportedly looking at the Terra crash to check for signs of intentional price manipulation and other issues. The South Korean government continues to investigate Terraform Labs, the firm behind the Terra Network as well as Luna Classic (LUNC), previously known as Terra (LUNA), and TerraUSD (UST) tokens, by reportedly summoning subpoenas…
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