How Early LUNA Holders, Founders Made Off With $6B
The Terra (LUNA) crash will go down in crypto history as one of its most catastrophic events. Billions of people lost their life savings and investments. In the meantime, a small group of insiders benefited. Related Reading | LUNA Classic Jumps 90% Following Support From Crypto Exchanges According to a report from Arcane Research analyst Anders Helseth, the Terra (LUNA) ecosystem, now known as Terra Classic, operated as a long-term “pump and dump” scheme. The analyst looked into on-chain activity to support his claims and found revealing information on the distribution of LUNC and its....
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Do Kwon has urged holders of LUNA to “stay strong,” as the price moves ever closer to zero. Following the UST stablecoin losing parity with USD, prices have plunged, falling to a new low this morning. LUNA, UST Tumble Toward Zero As of writing, LUNA/USD is trading at $5.45, which is marginally higher than its earlier low of $4.21. To put things in perspective, prices are down nearly 90% from yesterday’s peak of $34.28, and only seven days removed from it trading at a high of $88.40. Following a brief rally in the aftermath of it losing dollar parity, UST also moved....
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....
Terra posted three new revisions to its revival plan. This included increasing genesis liquidity, introducing a new liquidity profile and decreasing allocation for some holders. After a grueling two weeks for the Terra community, the team behind the project announced revisions to their proposed revival plan for Terra (LUNA) and TerraUSD (UST). In a Tweet, Terra shared three major revisions to the proposed Terra revival and redistribution plan. These include increasing the genesis liquidity, introducing a new liquidity profile for pre-attack LUNA holders and decreasing the distribution to....
Su Zhu revealed the 3AC team had close ties to Terra co-founder Do Kwon, which made them overlook many red flags with the project that eventually led to a multi-million dollar loss for the hedge fund. The founders of tainted crypto hedge fund Three Arrow Capital (3AC), which filed for bankruptcy in the first week of July, have finally resurfaced after five weeks of no known whereabouts.In an interview with Bloomberg, Su Zhu and Kyle Davies, the two founders of the crypto hedge fund, admitted that the overconfidence born out of a multiyear bull market, where lenders saw their values swell....
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....