๐จ From $45B Glory to Total Collapse
๐ฅ The Shocking Rise & Fall of Terra (LUNA & UST) โ A Crypto Cautionary Tale!
๐ 1. Birth of a Giant โ 2018
๐ Terraform Labs launched by DoโฏKwon & Daniel Shin.
๐ต Introduced UST, an algorithmic stablecoin pegged to USD via mint/burn with LUNA, but not backed by real assets.
๐ 2. Booming Growth โ Too Good to Last
๐ฐ Anchor Protocol promised 20% APY on UST.
โ ๏ธ Attracted billions โ but experts warned it was unsustainable.
๐ฃ 3. The 2022 Crash โ A Domino Effect
๐ Massive UST withdrawals
๐ฅ Depeg triggered panic
๐ LUNA hyperinflation
๐ธ Over $40 billion wiped out in days!
โ๏ธ 4. Legal Storm
๐จโโ๏ธ Investors lost life savings
โ๏ธ DoโฏKwon arrested with fake passport
๐บ๐ธ Extradited to the U.S., found guilty of fraud
๐ต Terraform Labs settled with SEC for $4.47B
๐ 5. Terra 2.0 โ A Rebirth Attempt
โป๏ธ Old chain: Terra Classic (LUNC)
๐ New chain: Terra 2.0 (LUNA)
๐ Airdrops launched โ but trust never fully returned
๐ง 6. Hard-Hitting Lessons
โ Algorithmic stablecoins = high risk
โ ๏ธ High yields = not always safe
๐๏ธ Overdependence on Anchor = ecosystem collapse
๐ Lack of transparency = regulatory trouble
๐ Investor damage = real and lasting
๐ Conclusion: No Blockchain Is Too Big to Fail
The Terra disaster proves that without transparency, real reserves, and proper risk management, even the most hyped crypto projects can implode.
๐ Let Terraโs collapse be your wake-up call โ not just a memory.
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