Luna Classic (LUNC) pricing error leads to Mirror Protocol exploit
An error on the pricing oracle software for Terra Classic validators opened the door for an exploiter to drain four synthetic asset pools from the Mirror Protocol. A mismatch in the reported price of underlying assets on synthetic assets DeFi platform Mirror Protocol has caused an ongoing exploit that has the potential to drain all of its funds.The exploit was observed on May 29 by governance participant ‘Mirroruser’ on the protocol’s forum. As of the time of writing, the mBTC, mDOT, mETH, and mGLXY synthetic asset pools on the protocol have lost almost all of their assets valued at over....
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About 70% of tokens are held in escrow and will be vested starting later this year. On Tuesday, cryptocurrency exchange Binance said it completed the first stage of airdropping new Terra Luna (LUNA) tokens to holders of Terra Luna Classic (LUNC), TerraUSD (USTC) and AnchorUST (aUST). The distribution was based on "pre-attack" and "post-attack" snapshots of token holders taken at LUNC block height 7,544,910 at 14:59:37 on May 7, 2022 UTC and block height 7,790,000 at 16:38:08 on Thursday, respectively. As told by Binance, users received new LUNA tokens based on the compensation scheme....
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 per CoinGecko data, the increase to $8.26 represents a 35% gain over the past 24 hours. Overall, however, the price has tanked 56% since launching on the weekend at an opening price of $18.87. Members of the community posted screenshots of the price jumping as high as $12 on the....
After the downfall of the two most popular crypto assets on the Terra blockchain, the digital currencies terrausd (UST) and luna classic (LUNC) increased a great deal in value against the U.S. dollar in recent times. During the last seven days, LUNC has risen 96.3% and the once-stable coin UST has increased 472.4% this week.
Luna Classic and the Once-Stable Coin UST Rise Significantly Against the US Dollar
It’s pretty well known in the world of digital currencies that some crypto assets never die. That seems to be the case with the two notorious crypto assets luna classic....
The U.S. regulator is investigating whether Terraform used its Mirror Protocol to sell unregistered securities in a case unrelated to the Terra collapse. The United States Court of Appeals for the Second Circuit on Thursday rejected Terraform Labs CEO Do Kwon’s dispute of a subpoena by the Securities and Exchange Commission (SEC). The federal agency was seeking documents and testimony in connection with its investigation of whether Terra used the Mirror Protocol to sell unregistered securities.Kwon was served with the subpoena in September 2021 while he was attending a conference in New....
HitBTC plans to list Terra's brand new token LUNA on May 27 as the suspended Terra Classic blockchain is expected to revive as Terra 2.0. Crypto trading platforms show initial signs of support for the revival of the collapsed Terra network by listing Terra's brand new token, also named LUNA.The HitBTC exchange took to Twitter on Wednesday to announce that Terra’s new chain token Luna will be available on its platform on May 27.The news comes amid Terraform Labs preparing to relaunch its protocol on May 27 and replace the old chain referred to as Terra Classic with the new chain called just....