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

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.

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