Terraform Labs co-founder Daniel Shin suggested that they were unaware of any flaws in the network’s algorithm.
Terra developer Daniel Shin, co-founder of Terraform Labs, spoke to the Financial Times. Shin denied the fraud charges, saying that they were not aware of any flaws in the network’s algorithm.
As it is known, LUNA and UST experienced a tremendous collapse in the past weeks and caused a shock in the crypto money world. While many market commentators claim that it is a fraud; Others, such as Binance CEO CZ, called the incident “stupid.”
Then Terraform CEO Do Kwon Terra restarted the network by voting to restart the network. The old LUNA has been renamed LUNC (Luna Classic).
The network’s new token, LUNA, is trading at $3.07 at the time of publication.
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