Monday, December 11, 2023

“Leak” reveals chaos and confusion in Terra when LUNA collapsed.

A chat log revealed by a Terra validator shows the state of chaos and confusion that Terra stakeholders went through when LUNA collapsed. The chat logs was taken from a Telegram group, now dubbed the “Terra Rebirth League” which comprises of 200 stakeholders. The conversation which began on May 12 between Terra’s key players, including Do Kwon and Sunny Aggarwal of Osmosis, quickly evolved into a muddle.

The TRL, according to one of the discussion participants named BigB, was set to become a specialized ongoing task force, independently operated and always critically assessing the attack vectors and vulnerabilities. One of the problems to emerge was agreeing at what height of the blockchain was Terra to halt; all validators had not stopped transactions at exactly the same time. There were calls to include ordinary community members. But this was believed to cause more harm than good. George Bunea of SyncNode said it would only make the situation worse. He said the discussion was for validators only and there was already a lot of confusion.

JoseCT said the movements should be better organized and announced properly. He highlighted that following this kind of chats in Telegram is not easy. Another member called Rohit said he has never seen more confusion on something this serious. A confused Do Kwon had also requested someone to summarize the issue.

The group was concerned about whether they collectively had enough voting power to direct and control the future destiny of Terra. But the group appeared to have considerable backing to help carry their plans forward. Some members wanted to wait for the dust to settle before making any big moves. Kai Tuirin of Lido pointed out that there was no sense to start right now as they still didn’t have the consensus on the Wormhole side. He said launching now will just mix up things.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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