Terra Network (LUNA) is the native token of the "new" Terra Network. The "new" Terra Network (LUNA) token is a result of a hard fork of the (failed) original Terra blockchain (rebranded to Luna Classic – LUNC). The project was initially very successful, but an external attack in May 2022 exposed the vulnerabilities of Terra Network and it's "stablecoin" UST. From the moment the price of the "stablecoin" UST started to fall from its fixed relationship with the dollar, there was virtually no stopping to it. The “bank run” that followed has caused both the UST and LUNC to lose almost all of its value. In an effort to restore the network and give it another chance, a hard fork has been carried out that gave birth to "Terra Network (LUNA)" and continues as a standalone crypto without the algorithmic "stablecoin" UST. The LUNC holders received an airdrop of the "new" You can safely and reliably buy and sell LUNA on LiteBit.
Oct 31, 2022
Terra Labs started with big dreams and high hopes for decentralized finance and the way the world would issue and interact stablecoins in the future. After UST collapsed in May a terrible contagion effect brought down many players in the crypto industry. First and foremost, CeFi lenders like Celsius, BlockFi or Voyager. Now that the dust is settled the aftermath of Terra is not looking pretty either and the former founder and CEO Do Kwon is still at large. The general attorney in South Korea wants to have a word with him and even investors are searching for his whereabouts internationally. What is the latest turn of events in Do Kwons case and how could this affect him in the future?
Oct 06, 2022
Do Kwon is still on the run, and he keeps playing games via Twitter. In late September, Interpol issued a red notice for him after South Korean investigators asked for help to find out his whereabouts. While investigators still have no success dealing with Do Kwon himself, one of his accomplices got arrested this week. What is the status of investigations and will justice be finally served?
Sep 20, 2022
Terra’s downfall in May had a terrible impact on the whole market. Within a few days, around $60 billion were wiped off the market. This was also the start of a contagion effect that was spreading among CeFi lenders who were directly or indirectly impacted by the failure of Terra Labs. A few months later and Terra relaunched a new LUNA token and LUNC is also available as the original version of the Terra blockchain. At first glance, it seemed that Terra and especially Do Kwon could recover, but an investigation in South Korea brought new details to the surface. Is Do Kwon on the run from law enforcement and how will this story most likely end?