lfg – DIGIT INFO

Report: South Korean Prosecutors Accuse Do Kwon of Manipulating LUNA’s Market Price

DIGIT — Thu, 03 Nov 2022 20:30:55 +0000

On Thursday, Nov. 3, 2022, local reports from South Korea disclosed that Korean prosecutors have allegedly discovered evidence that shows Do Kwon and an associate manipulated the price of LUNA, Terra’s native crypto token. The report further says South Korean prosecutors believe Kwon is hiding out in Europe. Local Report Claims South Korean Prosecutors Have […]

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InsurAce says it will pay millions to claimants after Terra’s collapse

DIGIT — Thu, 26 May 2022 05:51:49 +0000

DeFi insurance protocol InsurAce took heat from the community for suddenly shortening its claims period for Terra-related insurance claims, but is already set to pay out $11 million to claimants.

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Korean Police Ask Crypto Exchanges to Freeze Luna Foundation Guard’s Assets

DIGIT — Mon, 23 May 2022 23:30:17 +0000

The South Korean police have reportedly launched an investigation into possible embezzlement involving an employee of Terraform Labs. To prevent fund transfers, the police have requested crypto exchanges to freeze the Luna Foundation Guard’s accounts. Embezzlement Investigation and Asset Freeze The Seoul Metropolitan Police Agency’s Cybercrime Investigation Unit announced Monday that it has launched an […]

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The ‘Lunatic’ Movement: A Look at Terra LUNA’s Inception and the People That Helped Do Kwon Rise

DIGIT — Mon, 23 May 2022 19:30:29 +0000

After the LUNA and UST meltdown, many crypto investors have been curious about the project’s rise in popularity and people wonder about the background of Terra’s co-founder Do Kwon. Moreover, it is not commonly known that Terraform Labs was also founded by Daniel Shin, the founder of a payment firm called CHAI. After Shin left […]

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Luna Foundation Guard Discloses Usage of Bitcoin Reserves

DIGIT — Tue, 17 May 2022 08:00:13 +0000

The Luna Foundation Guard, the entity in charge of safeguarding the peg of UST, the stablecoin of the Terra ecosystem, has revealed how it used the available Bitcoin reserve before the recent debacle involving the Terra ecosystem. The organization sold part of the bitcoins owned directly, while another part was traded on different dates to […]

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Onchain Analysis Report Says Terra’s Bitcoin Reserves Were Sent to Binance and Gemini

DIGIT — Sun, 15 May 2022 20:30:17 +0000

After the collapse of Terra’s once-stable coin terrausd (UST), a number of people wondered where the Luna Foundation Guard’s (LFG) bitcoin went, as the funds were supposed to be used to defend the UST’s $1 parity. On Friday, the blockchain intelligence and analytics firm, Elliptic, published a blog post that summarizes where the bitcoin was […]

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‘A Dark Day for Crypto’ — A Deep Dive Into the Obliterated Terra Token Ecosystem and Damaged Apps

DIGIT — Fri, 13 May 2022 15:30:54 +0000

Following a few days of carnage, the two leading crypto assets built on top of the Terra blockchain have plummeted to significant lows. LUNA has dropped to $0.00000100 per coin and the once-stable coin terrausd (UST) hit a low of $0.044 per unit. After temporarily halting the Terra blockchain and restarting it, the team has […]

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Stablecoin Implosion — LUNA and UST Lose Significant Value, Downturn Ripples Across the Crypto Economy

DIGIT — Wed, 11 May 2022 15:30:07 +0000

During the last few days, the crypto economy has been tumultuous as billions have fled the market in search of safety. The issues with LUNA sparked a significant sell-off as Terra’s native digital asset dropped 97% in value against the U.S. dollar in 24 hours. Terrausd has slipped 67% lower than the $1 parity and […]

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Avalanche drops 30% on fears Terra’s LFG will dump AVAX next

DIGIT — Wed, 11 May 2022 12:22:15 +0000

Luna Foundation Guard is emptying its crypto reserves to bring its stablecoin back to its $1-peg, risking a massive AVAX selloff.

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UST Rebounds From $0.66 per Coin to $0.93, Crypto Community Assesses Stablecoin’s Damaged Reputation

DIGIT — Tue, 10 May 2022 14:15:46 +0000

On Monday, May 9, 2022, the stablecoin terrausd (UST) lost its parity with the U.S. dollar and dropped to an all-time low of $0.66 per unit. The stablecoin has been one of the most topical discussions in crypto during the past 24 hours, as many have been betting on whether it will fail or recover. […]

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