{"id":526598,"date":"2024-04-12T12:30:43","date_gmt":"2024-04-12T12:30:43","guid":{"rendered":"https:\/\/uniquehot.com\/?p=526598"},"modified":"2024-04-12T11:49:35","modified_gmt":"2024-04-12T11:49:35","slug":"terra-classic-lunc-down-4-developer-terraport-rugpull","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/terra-luna\/terra-classic-lunc-down-4-developer-terraport-rugpull\/","title":{"rendered":"Terra Classic (LUNC) Down 4% As Developer Accuses Terraport Of Rugpull"},"content":{"rendered":"

The most promising DeFi project of Terra Classic (LUNC), Terraport Finance, reported a hack of its Terraport liquidity wallet on Monday. In a tweet, the team shared that a hacker siphoned liquidity from Terraport Finance. Nearly 9.5 million TERRA, 15 billion LUNC and 5.5 million USTC were stolen by the hacker.<\/p>\n

Subsequently, Binance CEO Changpeng Zhao shared that his team reviewed the transactions and found that no funds were deposited on Binance – unlike MEXC and KuCoin, where deposits were detected.<\/p>\n

Was The Terraport Finance “Hack” An Inside Job?<\/h2>\n

A Terra Classic developer and prominent community member, @CosmoSreXx, popularly known as reXx, has raised serious allegations against the Terraport Finance developers yesterday. He claims<\/a> that the Terraport hack was actually a rugpull.<\/p>\n

The developer investigated the incident and found that three wallets hard-coded into the Terraport source code were responsible for the exploit. For him, this is clear evidence of a rugpull, as long as the developers of Terra Classic’s DeFi application do not make the full source code public.<\/p>\n

https:\/\/twitter.com\/CosmoSreXx\/status\/74570753<\/p>\n

“Without the full transparency of the other parties involved (@TerracVita and _Terraport_) we can only go based of what we (me and 2 other individuals) have uncovered from the encryption. To have a concrete answer, we need to see the source code (though I know it was changed),” reXx elaborated.<\/p>\n

Related Reading: LUNC: Unveiling Terra Classic NFTs That Could Spark A Price Resurgence<\/a><\/div>\n

The developer expressed understanding that the source code is closed to protect its value. However, the situation makes it necessary, moreover, closing the communication and not reacting to the problem is a bad sign.<\/p>\n

“I’ve come to the conclusion that this is an inside job. I am not saying all team members of Terraport knew\/were apart of this, but this leads back to who coded this DEX,” concluded reXx, who also referred to an audit he requested that was never conducted.<\/p>\n

Related Reading: South Korea Plans A Key Arrest Relating To Terra (LUNA) Crisis<\/a><\/div>\n

On April 2, reXx pointed out several security vulnerabilities in the Terraport platform code. According to the developer, a CertiK audit would have cost up to $50,000. He also noted that the code was implemented back in January and the team should have identified it since then.<\/p>\n

If anyone is going to publicly swear up and down that Terraport was “hacked” and not RUGPULLED (it’s obvious with blockchain data) then prove it. Should be a simple task to do to back up your claim.<\/strong><\/p><\/blockquote>\n

Terra Classic (LUNC) Price Stuck In Downtrend<\/h2>\n

At press time, the LUNC price stood at $0.00012235, down 4% in the last 24 hours.\u00a0A look at the 1-day chart of LUNC shows that the price has been in a downtrend since it emerged after the Terra Luna collapse.<\/p>\n

The price has formed a falling triangle pattern. Any attempts to break above the resistance line have failed so far. The support line at $0.000116 is the mark that is currently preventing a plunge to a new all-time low.<\/p>\n

\"Terra
LUNC price, 1-day chart | Source: LUNCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from Mint, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The most promising DeFi project of Terra Classic (LUNC), Terraport Finance, reported a hack of its Terraport liquidity wallet on Monday. In a tweet, the team shared that a hacker siphoned liquidity from Terraport Finance. Nearly 9.5 million TERRA, 15 billion LUNC and 5.5 million USTC were stolen by the hacker. Subsequently, Binance CEO Changpeng Zhao shared that his team reviewed the transactions and found that no funds were deposited on Binance – unlike MEXC and KuCoin, where deposits were detected. Was The Terraport Finance “Hack” An Inside Job? A Terra Classic developer and prominent community member, @CosmoSreXx, popularly known as reXx, has raised serious allegations against the Terraport Finance developers yesterday. He claims that the Terraport hack was actually a rugpull. The developer investigated the incident and found that three wallets hard-coded into the Terraport source code were responsible for the exploit. For him, this is clear evidence of a rugpull, as long as the developers of Terra Classic’s DeFi application do not make the full source code public. https:\/\/twitter.com\/CosmoSreXx\/status\/74570753 “Without the full transparency of the other parties involved (@TerracVita and _Terraport_) we can only go based of what we (me and 2 other individuals) have uncovered from the encryption. To have a concrete answer, we need to see the source code (though I know it was changed),” reXx elaborated. Related Reading: LUNC: Unveiling Terra Classic NFTs That Could Spark A Price Resurgence The developer expressed understanding that the source code is closed to protect its value. However, the situation makes it necessary, moreover, closing the communication and not reacting to the problem is a bad sign. “I’ve come to the conclusion that this is an inside job. I am not saying all team members of Terraport knew\/were apart of this, but this leads back to who coded this DEX,” concluded reXx, who also referred to an audit he requested that was never conducted. Related Reading: South Korea Plans A Key Arrest Relating To Terra (LUNA) Crisis On April 2, reXx pointed out several security vulnerabilities in the Terraport platform code. According to the developer, a CertiK audit would have cost up to $50,000. He also noted that the code was implemented back in January and the team should have identified it since then. If anyone is going to publicly swear up and down that Terraport was “hacked” and not RUGPULLED (it’s obvious with blockchain data) then prove it. Should be a simple task to do to back up your claim. Terra Classic (LUNC) Price Stuck In Downtrend At press time, the LUNC price stood at $0.00012235, down 4% in the last 24 hours.\u00a0A look at the 1-day chart of LUNC shows that the price has been in a downtrend since it emerged after the Terra Luna collapse. The price has formed a falling triangle pattern. Any attempts to break above the resistance line have failed so far. The support line at $0.000116 is the mark that is currently preventing a plunge to a new all-time low. Featured image from Mint, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":526600,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[85583],"tags":[86067,65698,88110],"class_list":["post-526598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-terra-luna","tag-lunc","tag-terra","tag-terraport"],"acf":[],"yoast_head":"\nTerra Classic Down 4%, Developer Accuses Terraport Of Rugpull<\/title>\n<meta name=\"description\" content=\"The most promising DeFi project of Terra Classic (LUNC), Terraport Finance, reported a hack on Monday. 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Through his extensive work with uniquehot.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/uniquehot.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Terra Classic (LUNC) Down 4% As Developer Accuses Terraport Of Rugpull","url":"http:\/\/uniquehot.com\/news\/terra-luna\/terra-classic-lunc-down-4-developer-terraport-rugpull\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/terra-luna\/terra-classic-lunc-down-4-developer-terraport-rugpull\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/04\/terra.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/04\/terra.png?fit=1600%2C900"},"articleSection":"Terra (LUNA)","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["lunc","terra","terraport"],"dateCreated":"2024-04-12T12:30:43Z","datePublished":"2024-04-12T12:30:43Z","dateModified":"2024-04-12T12:30:43Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Terra Classic (LUNC) Down 4% As Developer Accuses Terraport Of Rugpull\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/terra-luna\\\/terra-classic-lunc-down-4-developer-terraport-rugpull\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/terra-luna\\\/terra-classic-lunc-down-4-developer-terraport-rugpull\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/terra.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/terra.png?fit=1600%2C900\"},\"articleSection\":\"Terra (LUNA)\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"lunc\",\"terra\",\"terraport\"],\"dateCreated\":\"2024-04-12T12:30:43Z\",\"datePublished\":\"2024-04-12T12:30:43Z\",\"dateModified\":\"2024-04-12T12:30:43Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/04\/terra.png?fit=1600%2C900","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/526598"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=526598"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/526598\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/526600"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=526598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=526598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=526598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}