This measure is intended to counteract the influx of spam and irrelevant proposals submitted for voting within the Terra Classic community.
Terra News
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- News
The Singapore-based crypto exchange has been in ongoing bankruptcy proceedings since August 2022.
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Prime Core Technologies said that “under prior management” it had lost $6 million in user funds and $2 million in treasury funds through investments in the algorithmic stablecoin.
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The freeze comes shortly after Terra’s website was compromised over the weekend by hackers who attempted to scam users via phishing attacks.
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Some of the same techniques used to study the thermal history of the universe can be used to understand crypto crashes.
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The Securities and Exchange Commission wants to question Daniel Shin on Do Kwon and Chai Corporation’s relationship with Terraform Labs.
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Terraform Labs claimed that the failures of its algorithmic stablecoin and governance token were the result of an attack from short-sellers, potentially involving Alameda Research.
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Judge Jed Rakoff gave a detailed interpretation of the Howey test that was at odds with the decision in the Securities and Exchange’s case against Ripple.
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Terra co-founder Do Kwon is currently in a Montenegrin prison as the platform remains under scrutiny in South Korea, but crypto users continue to seek out information on wallets.
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Terraform Labs recently appointed CEO, Chris Amani, held a Twitter Spaces to separate the operations of Terraform Labs from Do Kwon’s personal affairs.
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Terraform filed a motion to access information from wallets used by short sellers during the collapse of its algorithmic stablecoin in 2022.
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Chris Amani, a Terra employee since 2021, has reportedly been serving as the company’s CEO for months.
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Terra co-founder Do Kwon is currently in custody in Montenegro, while Daniel Shin’s trial preparations in South Korea are reportedly underway.
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Blockchain data showed the wallet reportedly associated with LFG had a balance of roughly 6,983 BTC in October 2022, with transactions later moving funds to different addresses.
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The Terra Classic burn mechanism automatically burns tokens whenever a transaction occurs on the network.
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