The roller coaster ride around Terra Luna continues. Coindesk Korea accuses Terra Labs, the operator of the blockchain ecosystem, of price manipulation and money laundering on a large scale. In addition, the hacker group “Anonymous” threatens the founder Do Kwon.
3.6 Billion US dollars washed clean with Terra Luna?
Coindesk Korea claims that Terra Labs laundered $3.6 billion through its own stablecoin UST and stablecoin USDT. This assumption was made after a joint analysis of the cash flow with the security company Uppsala Security. Based on the on-chain data of the Terra wallets, “dubious money flows” are detected between decentralized marketplaces and centralized crypto exchanges.
According to their own information, however, the internal data would still have to be compared with the centralized exchanges in order to confirm the allegations completely. The investigation against Terra Labs has been ongoing for several weeks now, after the 70 billion ecosystem collapsed within a few days.
Anonymous threatens Do Kwon?
In a recently published Youtube video, the hacker group “Anonymous” threatens Do Kwon. According to media allegations, he pulled more than $ 80 billion out of the Terra Luna ecosystem every month. According to Anonymous, the information comes from testimony from Terra Labs employees during an interview with the SEC.
The funny thing is that the video is a fake. The official Twitter account of Anonymous clarified this a short time after the release of the video. The goal was to promote the unknown cryptocurrency AHCC.
Effects on Terra Luna
After the Terra Luna stablecoin lost its peg to the US dollar, it crashed by more than 99%. All the more surprising is the price gain of the last week. The stablecoin increased by almost 800 percent here and is currently at 7 cents. There is no concrete reason for this development.
The actual cryptocurrency Terra Classic is also performing again this week. Thus, the coin has risen by almost 70% in recent days and is on the verge of reaching a market capitalization of 1 billion dollars again. Thus, the currency is not impressed by the new allegations and may have found its true purpose. It has developed into a pump-and-dump scheme and, as such, fulfils its task.
Conclusion – Is it still worth investing in Terra Luna?
Although Terra Luna has suffered many setbacks, it still offers a promising opportunity. Both Terra Classic and UST are listed on many stock exchanges. And as it turns out, supporters are still optimistic. Thus, an investment in Terra Luna is conceivable. Nevertheless, one should realize that the risk is very high. So the motto is: “You can only lose 100%, but maybe win 1000%.” So if you are not afraid of the risk and have money left over, you should definitely look at the coin in the future.