Tuesday, August 5, 2025

Latest

Terra Blockchain Temporarily Halted Amid Implosion of LUNA, Terra

Evidently, not all crypto is as decentralized as claimed. It was announced this morning that following total carnage within the LUNA token, which fell as low as $0.00349 earlier today, the associated stablecoin known as Terra has been halted for trading.

The blockchain itself has reportedly been halted by Terraform Labs, the issuer behind both Terra as well as the LUNA token. The halt this morning was announced via Twitter, using the firms account @terra_money.

“Terra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA inflation and a significantly reduced cost of attack,” the company said. “Validators are applying a patch to disable further delegations, and they will coordinate to restart the network in a few minutes.”

Inflation has been a major issue for the token following the de-pegging of the Terra stablecoin this past weekend. Unlike other stablecoins, which are “stable” via fiat holdings, Terra is stabilized via a mechanism whereby if it loses its peg, tokens can be exchanged for $1 worth of LUNA tokens. With the stablecoin falling as low as $0.25 per each in recent days, exchanging of tokens has result in more than a billion LUNA tokens being issued.

The sudden printing of LUNA tokens meanwhile has caused the token to fall dramatically, dropping as low as $0.003 per token, while currently trading at $0.015. Comparatively, the token traded for more than $119 just a month ago.

So much for that “decentralized” blockchain.


Information for this briefing was found via Terraform Labs and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

San Dimas: First Majestic Silver’s Sleeper Asset

New Gold Q2 Earnings: Record Free Cash Flow

STLLR Gold: The Tower Gold PEA

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

Binance Is Being Sued For The Not-So-Stable Stablecoin Terra USD

For advertising TerraUSD as “safe” given its dollar peg, Binance is being sued by an...

Tuesday, June 14, 2022, 11:48:00 AM

Terra 2.0: The Blockchain That Lost US$60 Billion Is Back, Loses 68% On First Day

When someone causes investors to lose up to US$60 billion, you’d expect authorities to put...

Monday, May 30, 2022, 11:37:00 AM

Stablecoin Crisis: Terra Loses USD Peg, Crashes Below 30 Cents

Cryptocurrency markets were sent into distress over the past several days, after stablecoin Terra lost...

Thursday, May 12, 2022, 10:04:00 AM

Terra Stablecoin Issuer Allowed Crypto Whales to Cash Out Ahead of Collapse

It appears that last week’s implosion of the Terra blockchain may not have left all...

Tuesday, May 17, 2022, 12:22:00 PM

Terra Co-Founder Do Kwon Gets Arrest Warrant For Stablecoin’s Fall

A South Korean court issued a warrant of arrest for Do Kwon, co-founder of the...

Wednesday, September 14, 2022, 10:43:14 AM