Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ALTCOIN NEWS»Terra Luna Classic Loses BtcTurk Listings After Disastrous Hack
ALTCOIN NEWS

Terra Luna Classic Loses BtcTurk Listings After Disastrous Hack

By Crypto FlexsJune 25, 20244 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Terra Luna Classic Loses BtcTurk Listings After Disastrous Hack
Share
Facebook Twitter LinkedIn Pinterest Email
  • BtcTurk cryptocurrency exchange delists Terra Luna Classic (LUNC).
  • Security auditing firm CertiK estimated the financial damage at $90 million.
  • BtcTurk’s unsolicited announcement outraged the LUNC community.

Türkiye’s largest cryptocurrency exchange, BtcTurk, suffered a massive cyberattack last weekend. The exchange claimed that one in ten cryptocurrency balances in hot wallets were affected and that LUNC would be delisted. Renowned on-chain detective ZachXBT estimated the total damage at $54.2 million.

Hints for further research into missing $90 million

ZachXBT counted 1.96 million Avalanche (AVAX) tokens from suspicious cryptocurrency addresses. This address was used to withdraw digital assets from BtcTurk, which were later exchanged for assets on Coinbase and THORChain.

After a closer investigation by blockchain security audit firm CertiK, it was determined that more than $90 million in cryptocurrency funds had been leaked from the platform.

A major security breach has led to a massive sell-off of certain cryptocurrencies that have been captured by fraudsters. In addition to the 1.96 million AVAX coins discovered by ZachXBT, 350,000,000,000 Terra Luna Classic (LUNC) tokens were leaked from BtcTurk’s treasury.

Learn more

These LUNC coins, worth $28.55 million, were moved between cryptocurrency wallets to hide the origin of the funds. Upon further investigation by DailyCoin, the fraudsters first cashed out 325 billion LUNC tokens from one of BtcTurk’s hot wallets. These digital assets were delivered to several bait wallets on the Terra Classic chain before finally being deposited into Binance.

Terra Luna Classic dumped 20% after hacking.

Prominent Terra Luna Classic community members have linked the $90 million BtcTurk hack to LUNC’s plunge last weekend, but the community is divided on how this will impact performance. LUNC plummeted to a three-month low of $0.00007362 on June 22.

🚨Breaking News: @btturk Delisting in progress $ far away!

LUNC was stolen and hacked from where it was dumped in the market. The community had to deal with over 20% dumps and now they’re delisting? I have to buy back what I stole $ away Pay for your mistakes, not DELIST!

Can someone explain… pic.twitter.com/w63EaH973I

— WSB Trader Rocko 🚀🚀🚀 (@traderrocko) June 24, 2024

LUNC’s connection to the hack also contributed to the incident reducing its market capitalization by nearly $100 million.

However, Terra Luna Classic’s funding and burning mechanics gave this story some scarcity. Under the newly implemented LUNC burn tax regulations, all transactions will be contributed to the Community Pool (CP), a long-term fund to pursue LUNC’s recovery plan.

Reason for delisting $ here But do you think this is a way to help burn supplies without being so obvious?

— AxiomLunc (@AxiomLunc) June 24, 2024

The devastating BtcTurk hack resulted in 800,000,000 LUNC tokens flooding into CP, which can be allocated to new development projects. The hackers’ overly complex transactions to erase traces of malicious activity resulted in daily burning of LUNC, adding a massive 6.5 billion LUNC to the community’s bonfire.

At press time, Terra Luna Classic is trading at $0.00008052, up 7.6% in the last 24 hours. Despite a weak rally, LUNC is down 23% over the past two weeks. As depicted in the question in the LUNC Ninja thread, the community is very anxious about the future of the coin. “Has the sale of this corporation been completed?”

On the flip side

  • A significant portion of the LUNC community is concerned that more delistings could potentially occur. Specifically On Binance.
  • Since Binance is overseen by the Forensic Risk Alliance (FRA), LUNC may be delisted due to the coin’s ‘unregistered security’ status to mitigate legal implications.

Why This Matters

Blockchain security has been a hot topic of discussion in 2024, and the hack of Turkey’s top cryptocurrency exchange is likely to have global repercussions as Turkey is a leader in cryptocurrency adoption.

Find out the latest cryptocurrency news from DailyCoin:
Elon Musk Deepfake Scams Crypto Investors: How to Stay Safe
Vitalik on Crypto’s “idealistic hippies”: “We’re still here!”

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Shib or PEPE: What memes coins are cut to the top 10 first?

July 17, 2025

The PBK Miner uses XRP mining to start a stable and efficient income method to easily earn $ 18,000 a day.

July 10, 2025

The market will select US regulatory stable coins more than CBDCS every day of CBDCS every day.

July 3, 2025
Add A Comment

Comments are closed.

Recent Posts

POLYMARKET will re -enter the United States after the acquisition of QCEX $ 112 million.

July 22, 2025

FTT increases by 7% as the backpack starts the platform to help victims clear liquidation.

July 21, 2025

Monarq Asset Management Appoints Sam Gaer As CIO To Lead Directional Strategy

July 21, 2025

Little PEPE surpasses $ 4 million in pre -sales, emerging as one of the main memes in 2025.

July 21, 2025

Bitcoin Price $ 123K Explosion -Trader Brace for Brake Out

July 20, 2025

Ether Lee Rium breaks $ 3K with 7,200% of the virus L2 coin eyes.

July 20, 2025

XRP Breaks Through $3.5! DL Mining Launches AI Cloud Mining Contracts, Earning Steady Profits Every Day

July 20, 2025

AAVE gains strength as AAVE dominates defect loans with net deposits of $ 50B or more.

July 19, 2025

As XRP Surges, DLMining Platform Opens New High-yield Cloud Mining Opportunities For Holders

July 19, 2025

Missed Out On Bitcoin At $9999? SIM Mining Cloud Mining Brings You New Opportunities For Wealth!

July 19, 2025

NFT is a rebound -there is a teenage NFTS this week.

July 19, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

POLYMARKET will re -enter the United States after the acquisition of QCEX $ 112 million.

July 22, 2025

FTT increases by 7% as the backpack starts the platform to help victims clear liquidation.

July 21, 2025

Monarq Asset Management Appoints Sam Gaer As CIO To Lead Directional Strategy

July 21, 2025
Most Popular

13% surge causes AVAX ringing

January 29, 2024

The reason why the initial mover is advantageous

April 9, 2025

UniSat celebrates BRC-20 anniversary with major updates and future plans

March 11, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.