Terra halts its blockchain to prevent hacks amid UST crash

Terra halts its blockchain to prevent hacks amid UST crash

4 years ago
Anonymous $dy9SWuvIkX

https://techcrunch.com/2022/05/12/terra-halts-its-blockchain-to-prevent-hacks-ust/

Terraform Labs, the company behind the Terra USD (UST) and Terra (LUNA) cryptocurrencies, halted the Terra blockchain Thursday following the Terra ecosystem’s meltdown this week, which caused its stablecoin, UST, to crash, taking with it the rest of the cryptocurrency market.

The halt means no new blocks are being generated on the blockchain network after its block height of 7603700, and holders can’t move their Terra assets until the blockchain is unfrozen.