Crypto.com was one of the few crypto exchanges to keep LUNA businesses open, as Terra’s death cycle saw the irreversible fall in prices of LUNA and stablecoin UST. However, a technical glitch on the Crypto.com mobile app has allowed users to temporarily miss out on a 30-40 x profit on LUNA trading.
On Friday, Crypto.com banned users from trading, citing incorrect prices for LUNA due to some errors in the internal platform. Crypto.com CEO Chris Marszaleck has revealed details of a crash that could cause users to make huge profits, as Crypto Twitter began to worry about changes in its trading platform.
There are a lot of customers who buy at the wrong price and in fact some have a chance to take advantage of the mistake.
We have changed all transactions.
Some customers are saving us a ton of dollars, and some are embarrassing us.
– Chris | Crypto.com (@kris) May 13, 2022
According to Marszaleck, users in those “59 minutes” were eligible for LUN tokens, which fell to $ 0.0004685 at the time of writing. It should be noted that LNA gained its maximum market capitalization on April 5 to $ 120.
Marszalek says:
The main cause was a combination of several external factors (the Luna death rotation, the release and the cessation of the Luna chain as a whole) brought together price fluctuations, which should normally be indexed, but they were not.
After a one-day review of LUNA’s business turmoil, Marszalek announced that “all user accounts have been reactivated.”
Although Crypto.com changed LUNA transactions, the company offered a $ 10 in-house Cronos (CRO) as a voluntary mark for affected investors.
Related Terra blockchain has officially stopped following the collapse of LUNA
With the price of LUNA falling more than 99%, Terra Blockchain Verifier has officially shut down its network to prevent administrative attacks.
Terra blockchain officially stands at 7603700 block height. https://t.co/squ5MZ5VDK
Terra’s bodyguards have decided to stop the Terra Chain to prevent further administrative attacks $ LUNA Inflation and the cost of violence have dropped dramatically.
– UST powered by LUNA (@terra_money) May 12, 2022
The certificates are expected to restart the network only after a new patch has been applied to disable additional delegations.
The patch release has been released at https://t.co/BZ8t86cuwA
Delegates will stumble after the production continues.
After 2/3 of the voting power comes online, the network should go straight. An update will be provided accordingly. https://t.co/vffpjw7uom
– UST powered by LUNA (@terra_money) May 12, 2022