The Terra blockchain has been halted to protect against a possible attack, according to a statement by Terraform Labs. "Terra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA inflation and a significantly reduced cost of attack," said the official Terra account on Twitter. This comes after screenshots were shared, purpotedly from the official Terra Discord, that said the chain would be halted and restarted with staking disabled. The idea of disabling staking would be to provent an attack. It is unclear if this is the official plan. This comes after the price of ... (full story)

The Terra blockchain halted after the terra token (LUNA) fell in value to below 2 cents on Thursday. According to a tweet from Terraform Labs, the company behind the Terra ecosystem which includes the LUNA governance token and several algorithmic stablecoins, the price of LUNA fell too low to "prevent governance attacks," citing LUNA inflation as one factor. LUNA fell in price from nearly $120 in early April to between 1 and 2 cents on Thursday. Terraform said the network's validators "will coordinate" to restart the network shortly. LUNA's price plummeted over 80 dollars in three days. TerraUSD (UST), one of the ... (full story)