Terra’s newly relaunched LUNA token is in dire straits just two weeks after a widely-anticipated airdrop.
The token was dumped 20% in the past 24 hours, and is now trading at a record low of $4.15. A bulk of its losses also come amid a broader decline in the crypto market.
But several new, damning revelations around the Terra relaunch appear to have cost the blockchain what little goodwill it had left with traders. Speculation over whether founder Do Kwon still has a part to play in Terra 2.0 are behind LUNA’s latest slump.
Additionally, South Korean police are also reportedly investigating the possible embezzlement of Bitcoin by a Terraform Labs (TFL) employee.
Do Kwon, TFL accused of lying in revival plan
Self-proclaimed Terra insider FatMan said in a recent Twitter thread that Kwon and TFL had lied “through their teeth” about making Terra 2.0 completely community owned.
