With its native token LUNA and stablecoin UST in freefall, Terra says it has halted its blockchain for the second time in 24 hours.
In a tweet posted at 10:13pm Eastern Time, Terra said its blockchain “has officially halted at block 7607789.”
“Terra Validators have halted the network to come up with a plan to reconstitute it. More updates to come,” it continued.
The Terra blockchain has officially halted at block 7607789.
Terra Validators have halted the network to come up with a plan to reconstitute it.
More updates to come.
— Terra (UST) 🌍 Powered by LUNA 🌕 (@terra_money) May 13, 2022
The blockchain was first paused on May 12 over fears that it had become vulnerable to attack. Developers at Terra then announced at 2:05pm ET that block production had resumed, albeit with staking disabled.
The crisis at Terra was triggered when its algorithmic stablecoin UST de-pegged from the US dollar. It now sits at around $0.19, per Binance data, despite franti
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