Terra Tokens Suffers Amid Terra Money and Station Woes
The value of Terra ecosystem tokens, such as Terra (LUNA) and Terra Classic (LUNC), has experienced a significant decline in the past two weeks. This drop in value can be attributed to issues with Terra Money domains and the Station wallet. The developers at Terraform Labs have been unable to resolve these problems, resulting in the freezing of the domains to prevent phishing scams.
The Status of Terra Money and Station
– The terra.money domains are currently blocked to protect users from phishing scams.
– Funds in the Station wallet are deemed safe by the Terra Money team.
– The team is actively working with the domain registrar to regain access to the frozen domains.
Updates on Domain Compromise and Security Measures
– Terra Money domains were frozen due to an attempted scam and phishing attacks.
– Ecosystem partners were warned to avoid interacting with the compromised domains.
– The Station wallet web app is now accessible at station.money, and browser extensions have been updated for safe usage.
– Temporary domains have been established for Finder block explorer and Docs.
Price Decline of LUNA and LUNC Tokens
– As a result of the issues with domains and Station, the prices of LUNA and LUNC have dropped significantly.
– LUNA prices have fallen by 31% in the past month, while LUNC prices have decreased by 21%.
– Currently, LUNC is trading at $0.000062, down 3% in the last 24 hours, with a trading volume decrease.
– LUNA is trading at $0.41, falling by 4% in the past 24 hours, with a 24-hour low and high of $0.410 and $0.434, respectively.
Hot Take
The recent issues faced by Terra ecosystem tokens, specifically Terra Money and Station, have caused significant losses in value. The freezing of domains and the inability to resolve the problems have impacted the trust and trading volume of these tokens. It remains to be seen how quickly Terraform Labs can regain control and restore confidence in the ecosystem.
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