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Terra Luna - The story continues

 


$3.6 billion laundered with Terra Luna?

Coindesk Korea claims that Terra Labs laundered $3.6 billion through its own stablecoin UST and stablecoin USDT. This assumption was made after a joint analysis of the cash flow with the security company Uppsala Security. Based on the on-chain data from the Terra wallets, “dubious money flows” between decentralized marketplaces and centralized crypto exchanges are observed.


According to their own information, however, the internal data would still have to be compared with the centralized exchanges in order to really fully confirm the allegations. The investigations against Terra Labs have been going on for a few weeks after the 70 billion ecosystem collapsed within a few days.


Anonymous threatens Do Kwon?

Bitcoin Anonymous Maske

In a recently published YouTube video, the hacker group “Anonymous” threatens Do Kwon. According to allegations by the media, this has withdrawn more than 80 billion dollars from the Terra Luna ecosystem every month. The information came from testimony provided by Terra Labs employees during an interview with the SEC, according to Anonymous.


The bizarre thing is that the video is a fake. Anonymous' official Twitter account clarified this shortly after the video was released. The goal was to promote the unknown cryptocurrency AHCC.


Effects on Terra Luna

After the Terra Luna stablecoin lost its peg to the US dollar, it crashed by more than 99%. The price gain of the last week is all the more astonishing. The stablecoin gained almost 800 percent here and is currently at 7 cents. There is no specific reason for this development.


The actual cryptocurrency Terra Classic is also performing again this week. The coin has risen by almost 70% in the last few days and is on the verge of reaching a market capitalization of $1 billion again. The currency is thus unimpressed by the new allegations and may have found its true purpose. It has evolved into a pump-and-dump scheme and does its job as such.


Conclusion – Is an investment in Terra Luna still worthwhile?

Although Terra Luna has suffered many setbacks, it still offers a promising opportunity. Both Terra Classic and UST are listed on many exchanges. And as it turns out, supporters are still optimistic. An investment in Terra Luna is therefore conceivable. However, one should realize that the risk is very high. So the motto is: “You can only lose 100%, but maybe win 1000%.” So if you are not afraid of the risk and have money left over, you should definitely take a look at the coin in the future.

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