Terra (LUNA) Blockchain Halted by its Team to Prevent Governance Attacks. Quick take:.
13 May 2022, 08:00
Terra (LUNA) Blockchain Halted by its Team to Prevent Governance Attacks
Quick take:
The Terra blockchain has been halted by its teamTerra Validators have decided to stop the Terra Chain to prevent governance attacksSuch attacks have become cheaper given LUNA’s ongoing price drop and inflationOver 15 billion LUNA coins have been issued todayBinance, Bybit, and Bitmex have delisted futures contracts related to Terra (LUNA)The team at Terra (LUNA) has announced via Twitter that they will be halting the blockchain at block height 7603700. Terra validators made the decision as a means of preventing governance attacks as a result of LUNA’s ongoing inflation and the significantly reduced cost of such attacks on the network.
At the time of writing, the ‘validators are applying a patch to disable further delegations, and they will coordinate to restart the network in a few minutes.’