LUNC’s fate turns bleak as new attack drains liquidity from Terraport Finance

  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 67 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 68%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Terra Classic encounters a major bump on its road to recovery. LUNC’s prospects dwindle as the hack undermines recent rally attempts. The Terra Classic [LUNC] community suffered yet another another blow to their recovery plans from last year’s black swan. Recent reports reveal that the network, as of 10 April, was nursing a very recent […]

LUNC’s prospects dwindle as the hack undermines recent rally attempts.community suffered yet another another blow to their recovery plans from last year’s black swan. Recent reports reveal that the network, as of 10 April, was nursing a very recent attack on its Terraport liquidity wallet.Terraport Finance confirmed the attack on its liquidity wallet. An update from the Twitter account Terraport Finance also revealed that the attacker drained the funds in the DeFi platform’s liquidity wallets.

Terraport did not disclose the actual sum of the LUNC that was lost. However, rumors suggested that roughly $4 million worth of LUNC was lost.We are currently working with community members and major exchanges to secure as many of these funds as possible and blacklist wallets. All funds have been tracked.The Terraport liquidity wallet attack comes as the latest blow to Terra Classic’s recovery attempts after the rough events of June 2022.

Not only does this mean that thousands of users are down on their luck, but this new attack may place a huge dent on investor confidence. However, contrary to the ongoing situation, LUNC’s weighted sentiment demonstrated some growth in bullish expectations.So far the weighted sentiment didn’t indicate any major reaction, likely due to the timing of the incident. A more pronounced impact will likely be evident in the next few hours.

Furthermore, these observations also suggested that the cryptocurrency was experiencing a surge in demand. It also reflected the slight surge in social dominance as observed in the last few days.The social dominance stimulation also reflected a volume surge observed during the weekend. This was around the same time that the price saw a bit of an uptick but the subsequent sell pressure shot down those bullish attempts.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 22. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Kuwait PM appoints finance minister in cabinet reshuffleKuwait's Prime Minister Sheikh Ahmad Nawaf al-Sabah has appointed a new finance minister as part of a cabinet reshuffle that left other major roles unchanged, state news agency KUNA reported on Sunday. Kuwait's PM is demonstrating an extreme health risk by not covering his mouth and nose with that mask. We are still in the middle of the deadliest pandemic we ever conjured by the TV. Stay tuned for further programming, thank you.
Source: CTVNews - 🏆 1. / 99 Read more »

FTX's first interim report since bankruptcy reveals massive failures in management, finance and security(Kitco News) - The new management team of FTX, led by John Ray, issued their long-awaited interim report on the state of the exchange and its sister firm, hedge fund Alameda Research. The severity and scale of the failures it outlines helps to explain why it took nearly five months to the day for the first report to be filed.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

There's a new way to finance a home down payment, but one expert says it's riskyA new service has arrived on the Ontario real-estate scene that promises to help prospective homebuyers come up with the cash for a down payment, but one expert says the list of risks and caveats is considerable. Wearing a mask while robbing a bank is the best option , experts say . Next they’ll be financing sandwiches Waterbed financing is risky too, but that shouldn't stop you from enjoying a blissful sleep. 3YearLetterman
Source: CTVNews - 🏆 1. / 99 Read more »