The current high volatility of the trading prices of Terra Classic (LUNC) on the Bitkub Exchange platform may lead to damage to investors. To prevent and minimize the possible loss or damages, Bitkub Online Co., Ltd. (“the Company” or “Bitkub Exchange”) hereby reminds all investors to consider the Terra Classic (LUNC) trading with utmost caution and may study the risks listed below.
The basic qualifications of the Terra Classic (‘LUNC’ or old LUNA) token have significantly changed, especially the supply of the tokens which caused a drastic price decrease. As a result, its ecosystem has been transferred to the new one with the new token being created called Terra 2.0 (‘LUNA’ or new LUNA). The changes have also led to the unsettlement of various points including the LUNC utility properties, plans for long-term improvement, and LUNC node validator management.
- The news referring to the uncertainty of Terra’s founder and the investigation conducted in South Korea is also a factor of the uncertainty. For more information about the news, please check the following links as examples.
- Terra Founder Do Kwon’s Twitter Goes Private
- South Korea's financial authorities to investigate Terra
- South Korea puts crypto company Terraform Labs’ staff on no-fly list
The Company has contacted the Terra team through their official channels to inquire for more information and clarifications regarding the aforementioned matters and solutions. However, the Company has not yet received a response from Terra.
- If the price of old LUNA (LUNC) falls below 0.0001 THB which is the minimum price that the trading system supports, Bitkub Exchange will temporarily suspend the trading of the token. However, customers can still cancel their pending orders and process LUNC withdrawals as usual. (Reference to the notice announcement of the minimum price level of LUNA)
For the reasons mentioned above, Bitkub Exchange would like to notify our investors to make their trades cautiously as the token is under the property review to remain listed on our digital asset exchange, and the price can be highly volatile.
- The LUNA token currently listed on Bitkub Exchange is Terra Classic (LUNC), NOT Terra 2.0 (LUNA). The trading, deposit, and withdrawal of the token on Bitkub Exchange after the Post-attack snapshot (27 May 2022 at 02:59:51 AM (GMT+7)) will not be eligible for the airdrop as per Terra’s team criteria. (Reference to the LUNA airdrop announcement)
- This announcement is a notice to encourage investors to be cautious in trading digital assets only. The Company is not responsible for and does not certify or confirm the accuracy, completeness, and free from defects, current, or the reliability of the information contained in this announcement including any information of any third parties. In addition, the Company does not consider any information published as legal advice or opinion, and shall not be regarded as giving advice on trading or investments in digital assets. All investment decisions are the sole decisions of the investors, and the investors should learn more about the details of digital assets before making investment decisions.
- The Company is not responsible for any loss or damages, or profits and losses from investing in digital assets related to this announcement and/or from the use of the information contained in this notice in all cases.
- Bitkub Exchange reserves the right in its sole discretion to amend or change these announcement details, and we will further notify you if there is any change.
Thank you for your continued support.