Nearly four years after Do Kwon was imprisoned, there are still community members steadfastly supporting Terra Luna Classic and looking forward to an "epic revival."
According to Decrypt, although Do Kwon, the founder of Terraform Labs, has been sentenced to 15 years in prison for causing the collapse of Terra, which resulted in approximately $40 billion in losses, the abandoned original chain Terra Luna Classic (LUNC) has not disappeared. A group of community members continues to maintain the network, hoping to achieve one of the greatest revivals in the history of the cryptocurrency industry.
The report states that a core community member known by the pseudonym "Vegas" lost about $50,000 during the Terra collapse and has since been involved in operating validation nodes, governance proposals, and developer coordination. He expressed that despite facing long-term internal power struggles and fraud accusations, and even being maliciously reported to the authorities, he still believes LUNC has the potential to return to the top ten in the cryptocurrency industry.
After the Terra collapse in 2022, Terraform Labs launched a new chain, Terra, through a hard fork, while the original chain was retained and renamed Terra Luna Classic. Subsequently, the community organization Terra Rebels took over the maintenance work and launched a series of proposals, including a 1.2% burn tax, in hopes of revitalizing the ecosystem. However, due to disputes over fund allocation and governance, Terra Rebels eventually disbanded, and several developers left one after another.
Despite this, the community continues to advance the development of projects such as lending protocols, games, and meme coins, and attempts to restore the stablecoin peg mechanism. Data shows that LUNC has risen 17.3% in the past year, but has cumulatively fallen 28.7% since 2022, with a decline of 99.99% from its historical high of $119.
Some community members stated that the shared trauma after the collapse has formed a bond similar to "family," and that price is no longer the only goal. "What if we could achieve one of the greatest comebacks in cryptocurrency history? It's like a last-ditch pass." said a community member.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

USS Washington to Replace USS Lincoln in the Middle East Amid Concerns Over Crew Living Conditions

Stablecoin $825M Pre-Deposit Flash Loan, Whale Entrance with $700M Before Official Announcement?

SuhoAIo and IBK Industrial Bank Complete Joint Concept Verification of Blockchain-Based Instant Overseas Remittance Infrastructure

Fixed Term in Dollars: How Much Do I Earn If I Invest US$3,500 for 30 Days

The S&P Merval Plummeted 12% in Dollars in August and Country Risk Rose 80 Points, the Largest Jump Since February

Alleged 5.5 Million MyVete Records Offered for USD $4,000

Lazarus moves $30M through Hyperliquid as US talks advance

Polymarket Discusses $1 Billion Funding, Valuation of 29 Trillion Won Mentioned

AI data centers are learning the power trick Bitcoin miners mastered first

Peach Limits P2P Bitcoin Sales Under New Rules

Bitcoin: American Bitcoin Achieves Record Production Despite Cost Debate

Crypto market moves ‘as one block’ despite broader rally: Cryptex co-founder

What would it take to bring Hyperliquid to the US? Former SEC counsel explains

Iran claims it shot down a U.S. MQ-9 Reaper drone near the Strait of Hormuz

Why Bitcoin’s $2B corporate treasuries are a ticking time bomb of hidden conditional supply

Bitcoin needs ETF demand to hold as Fed rate hike risk grows: analysts

SEC Charges 38 Entities Over False Investment Adviser Filings

Former SEC, CFTC Officials Urge Lighter Touch to Bring Crypto Perps Trading Onshore

Solana Crypto Partnership Achieves Record 169.9 Million Transactions

Cyberattacks: Artificial Intelligence (AI) Could Destabilize Global Finance!

Surge in IPOs in China: AI and Robotics Companies Lead Debuts in Shanghai and Hong Kong

HKDAP could take HKD beyond payments into on-chain finance, HashKey researcher says

NASA and SpaceX Delay Crew-13 Due to Leak in Dragon Spacecraft

Coinhouse Acquires Tilvest and Strengthens Its Position in Crypto Management

Strive buys $143M in Bitcoin, becomes fifth-largest holder

"Technology Takes a Backseat": How Stablecoins Transition from Savings to Everyday Payments

Fogo Mainnet Has Been Stopped For 46 Hours With No Restart Timeline

Circle Issued 5 Billion USDC in a Week: Crypto Market Awaits Altseason Again

Hacking: Belgium demands crypto addresses from illegal sites





