Reverses LUNA Trades Made on Friday 13th Glitch

Last weekend has left a lot of users confused, when the mobile app all of a sudden started displaying prices way above the actual market price. An internal system tool detected incorrect prices for LUNA and some customers were able to exploit it into 30-40x profits.

Confusion Amid LUNA & UST Crash is one of the few crypto exchanges that kept Terra’s (LUNA) trading lines open even after the beyond-repair crash of stablecoin UST, which is pegged to LUNA.

Soon after the internal tool detected the inaccuracy of LUNA prices, barred their customers from performing any trades. The glitch took 59 minutes, during which some clients got away with massive profits. Shortly after, CEO Kris Marszalek explained that the technical glitch appeared only on the mobile app and not the exchange. To get into details about the glitch, Marszalek said ‘The root cause was a combination of multiple external factors, for instance, tick size changes due to Luna death spiral, withdrawal & entire Luna chain stopping, leading to price dislocations’.

Cronos (CRO) In The Red Too after Reaching ATH

Surprisingly, this comes only a month after Terra (LUNA) reached its ATH at $119 on April 5th. However, Kris Marszalek also issued a buyback option for any user who has traded during those 59 minutes at the current LUNA price, which is $0.0001795 at this time.

Additionally, Marszalek gave $10 in Cronos (CRO) as a gesture of goodwill. It is worth noting that’s native token Cronos is also experiencing hard times – Cronos (CRO) is trading at $0.199937 at this time, according to CoinGecko. CRO achieved its pinnacle 6 months ago and was trading at $0.96 during the period when bought naming rights to Staples Center.

On The Flipside

Last week, Terra halted the blockchain network to prevent it from governance attacks. Even though a Do Kwon’s rescue plan managed to push UST back to $0.84, the patch was short-lived and UST is floating just a little above its demise at $0.10, bouncing back from an all time low of $0.04495 just 4 days ago.

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