#terra

The Avalanche Foundation has finalized the acquisition of 1.97 million AVAX tokens from the liquidated Luna Foundation Guard (LFG). LFG initially acquired these tokens to support the Terra blockchain ecosystem during its active period.

HectorDAO has filed for Chapter 15 bankruptcy in the U.S. Interpath Advisory, a firm specializing in insolvency cases, has pinpointed three primary causes for this outcome: the collapse of the Terra ecosystem, a breach in the Multichain protocol, and a subsequent theft from HectorDAO's treasury.

The Appeals Court of Montenegro has revoked the decision to extradite Terra founder Do Kwon to the United States or South Korea. Now, for the subsequent extradition of the criminal, the case needs to be processed from the beginning through all the required procedures.

After detecting phishing attempts, Terra (LUNA) has temporarily frozen its primary domain, Terra․money. The company's directive? Avoid sites with this domain until they say otherwise. While the team has ramped up protection for the Station Wallet, a word of caution: avoid the desktop and mobile apps for a bit. But if you're a fan of the Station Chrome extension, the latest version is good to go.

The U.S. Securities and Exchange Commission has received permission from a U.S. judge to request assistance from the South Korean government in questioning Daniel Shin, co-founder of Terraform Labs. Officials plan to question Shin in connection with their own lawsuit against Do Kwon and to obtain documents related to Chai Corporation, a secondary company that was also used in the illegal scheme.

US SEC documents reveal that Montenegrin Prime Minister Milojko Spajić invested €75,000 (around $80,000) for 750,000 Terra (LUNA) tokens in April 2018. At their highest value, these tokens would have been worth about $90 million.

Montenegro's Supreme Court in Podgorica has determined that Terra's founder, Do Kwon, will be extradited to the United States, according to news outlet Pobjeda.

The community of Terra Luna Classic has dismissed the USTC Repeg team's request for funding. Voting outcomes showed 45% in support, 43% objecting with veto power, and 11% rejected it outright. Even though 11 of the 17 validators were in support, the proposal failed to gain traction with the general public. The request was for 285 million LUNC ($20,000) to refine an instrument for the USTC Incremental Repeg Buybacks & Staking Swaps algorithm.

Arkham Intel Exchange has acknowledged two on-chain investigators with approximately 9,519 ARKM (valued at ~$5,000) for information on Do Kwon & Terra's wallet holdings. This new data suggests a potential inconsistency in Terra's previous declaration of possessing a single Luna Foundation Guard wallet.

The LUNC community is having a vote (https://atomscan.com/terra/votes/11324) we all deserve. Namely: a proposal to re-peg the USTC stablecoin to $1. Better yet, the decision has almost been made. Following the news, USTC increased by 60% in just 10 hours, and the internal token LUNC caught up and rose by 20%. Hey, why stop at $1? Don’t you think that $10-$15 sounds juicier? After all, you’re the only ones in the "moon" market, so you probably won’t face any issues with interest either.