South Korea Launches ‘Emergency' Investigation Into Collapse of LUNA and UST

South Korea's top financial regulators have launched an emergency investigation into the collapse of cryptocurrency LUNA and stablecoin UST. The authorities have asked domestic cryptocurrency exchanges to provide information relating to transactions and investors of the two coins. South Korea's Emergency Investigation Into LUNA, UST South Korea has launched an “emergency” investigation of domestic crypto.

Timeline of Terra-luna, Terrausd

Terra's legal team resigned as UST lost its dollar peg and collapsed, pushing the Luna token to zero, according to sources familiar with the matter. As reported by the crypto publication The Block on Tuesday, some members of Terraform Labs' legal team left as the crypto markets roiled from UST's failure. The blockchain firm, the The post Terraform Labs' legal team quit as UST collapsed appeared first on Invezz.

In a recent update, the proposal to fork the current LUNA chain into LUNC has been strongly opposed by their own community. The proposal is said to have received huge negative reactions as they mainly intended to create a new chain without the algorithm stablecoin. On the other hand, the community believed burning LUNA tokens …

Following the aftermath of Terra's UST implosion, the blockchain project's founder Do Kwon has been actively discussing the Terra ecosystem revival plans and one specific proposal will be voted on May 18. The plan is to fork the blockchain into a new chain that does not include an algorithmic stablecoin, and the newly minted tokens

Terra co-founder Do Kwon has proposed Terra Ecosystem Revival Plan 2 in a bid to save the chain by hard forking. The post Terra Co-Founder Suggests Hard Fork in Bid to Save Chain Through Governance Vote appeared first on BeInCrypto.

The in-house legal team at Terraform Labs resigned just days after the collapse of Terra's algorithmic stablecoin. The post Terraform Labs' legal team resigns after UST collapse appeared first on The Block.

The collapse of TerraUSD has spurred financial authorities in South Korea to launch “emergency” inspections of domestic cryptocurrency exchanges. The post TerraUSD Collapse Spurs ‘Emergency' Inspections of South Korean Crypto Exchanges appeared first on BeInCrypto.

According to South Korea's local media reports, two South Koren financial authority agencies have started “emergency” investigations into local crypto exchanges in response to the collapse of Terra. In addition, a parliamentary member who is also a member of the ruling party by the name of Yun Chang-Hyun has also requested a parliamentary hearing calling The post South Korea's financial authorities and politicians start investigating Terra's crisis appeared first on Invezz.

Terra founder Do Kwon announced that he plans to ‘fork' the blockchain in an attempt to revive LUNA after the collapse of the token last week. Forking refers to changing the protocol of blockchain.

South Korean politician, Yun Chang-Yun has called for a parliamentary hearing on Terra in a bid to find out the real cause of the sudden collapse of both the TerraUSD (UST) stablecoin and the LUNA token from CEO Do Kwon.…

Successful crypto-focused venture capitalist Arthur Cheong is thinking of a few steps the decentralized finance (DeFi) world needs to take to prevent another high-profile collapse like Terra (LUNA). DeFiance Capital founder Cheong says the past week has been an “incredibly humbling and difficult event” even though his firm generally called the bearish direction of the The post Here's How To Prevent the Next Terra (LUNA) Collapse, According to Crypto Venture Capitalist appeared first on The Daily Hodl.