Crypto.com unblocks users, reverses glitched LUNA trades that made 30-40x

Crypto.com unblocks users, reverses glitched LUNA trades that made 30-40x

On May 13, Crypto.com abruptly barred users from trading after an internal tool detected the system quoting incorrect prices for LUNA. Crypto.com was one of the few crypto exchanges to keep LUNA trades open as Terra’s death spiral saw an unrecoverable price crash of LUNA and stablecoin UST. However, a technical glitch on Crypto.com’s mobile application allowed users to get away with a 30-40x profit on LUNA trades momentarily.On Friday, Crypto.com abruptly barred users from trading after an internal tool detected the system quoting incorrect prices for LUNA due to some error. Just when....


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Failed exit? Traders complain Crypto.com reversed profitable LUNA transactions

Terra’s death spiral resulted in the mispricing of LUNA tokens on the popular cryptocurrency exchange. Traders aren't happy with the compensation. Cryptocurrency exchange Crypto.com has halted the trading of Terra (LUNA) tokens after it determined that user transactions were quoted at an “incorrect price,” prompting severe backlash from the community.In a Friday news release, Crypto.com said that LUNA trades have been halted due to a pricing error between 12:40 and 13:39 UTC on May 12. “[U]sers who traded LUNA were quoted an incorrect price,” the exchange said. “Our systems quickly....

Terra Launches New Chain Airdropping LUNA 2.0 Coins — Token Value Slides Over...

On Saturday, May 28, 2022, LUNA classic and UST classic holders received an airdrop consisting of new LUNA 2.0 tokens based on two blockchain snapshots. The crypto asset’s first recorded value at 5 a.m. (ET), was $14.31 per unit and it hit an all-time high (ATH) roughly 20 minutes later at $18.87 per LUNA. LUNA has dropped more than 70% as it traded for $4.20 per unit at 11:00 a.m. on Saturday. LUNA 2.0 Launches The new LUNA token is now trading as the crypto asset was airdropped to LUNA classic (LUNC) and UST classic (USTC) holders. Presently, there’s a maximum supply of....

LUNA Moves On Its Own Beat, Bulls Aim For New ATH

LUNA continues to display strength as the crypto market trends to the downside. Despite the current short-term increase in selling pressure, this cryptocurrency managed to enter uncharted territory, and its price action hints at more upside. Related Reading | Inside Terra’s $2.38 Billion Reserves, What Made The Lineup? As seen in the chart below, LUNA has been on its uptrend since August 2021. It briefly dropped towards the $40 area and resumed its momentum to $120. At the time of writing, LUNA trades at $87 with a 4% profit in the 4-hour chart. As Bitcoin and larger cryptocurrencies....

Investors dumping on Terra as LUNA 2 tanks 70% in two days

“Zero plans to buy luna 2.0, but I will dump any airdrop if I get something on Binance,” said Lark Davis. The price of Terra (LUNA) has tanked around 70% since the re-launch of the Terra ecosystem via Terra 2.0 on May 28.Under the revival plan of Terraform Labs founder Do Kwon, new LUNA tokens, also referred to as LUNA 2, are being airdropped to investors that previously held Luna Classic (LUNC), TerraUSD Classic (USTC) and Anchor Protocol UST (aUST).The only reason to buy $LUNA 2.0 is to qualify for the next airdrop of $LUNA 3.0 after it goes to zero like $LUNA 1.0— Luke Martin....

Terra Development Team Reveals Some Users ‘Received Less LUNA From the Airdro...

The new Terra blockchain Phoenix-1 has been operating since Saturday morning May 28, 2022, and on that day, millions of new LUNA tokens were dispersed to luna classic (LUNC) and terrausd classic (USTC) holders. However, on Tuesday the Terra development team revealed that some Terra token owners “received less LUNA from the airdrop than expected,” and developers are “actively working on a solution.” Terra LUNA Airdrop Suffers From Miscalculation Error — Devs Plan to Offer a Solution On Monday, May 30, 2022, Bitcoin.com News reported on the new....