Crash K-Coin… ‘Luna’ eventually delisted

A view of the Bithumb customer center in Seocho-gu on the 13th. The global cryptocurrency market is shaking due to the collapse of the Korean cryptocurrency Luna and the sister stablecoin TerraUSD (UST). Bitcoin fell below 40 million won for the first time in nine months. yunhap news

Virtual currency exchanges at home and abroad have virtually abolished the listing of Luna (Terra), a ‘Korean coin’ that has plummeted. It is expected that a significant number of ‘MZ generation’ who have invested in cryptocurrency, including Luna, will be severely affected by this incident.

Upbit and Bithumb, the first and second largest cryptocurrency exchanges in Korea, announced on the afternoon of the 13th that they would end their trading support for Luna. Upbit will start on the 20th and Bithumb on the 27th. Gopax also announced that it would end its Luna transaction support from the 16th. It is virtually delisted. Previously, domestic virtual currency exchanges designated Luna as a stock for investment and prohibited deposits and withdrawals from other exchanges. Prior to the domestic exchange, Binance, the world’s largest cryptocurrency exchange, virtually delisted Luna and Terra UST (Tera Stable Coin) on the same day. As the price of Luna plummeted, it was delisted. According to CoinDesk Korea, as of 7:30 pm, Luna fell by 86.5% from the previous day.

In the Internet community, there are a series of articles complaining about losses after the crash. A virtual currency internet broadcast host, Mr. A, visited the house of Terraform Labs Kwon Do-hyeong (31), the representative of Terraform Labs, which issues Luna, etc. the day before and rang the doorbell and ran away. Person A, who had bought 2 billion won worth of Luna, surrendered to the police on that day.

Source: 경제 by

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