Terra Validators Halt Blockchain for Second Time to Plot Next Steps

The blockchain was halted earlier Thursday after the governance token LUNA fell in price.

May 13, 2022 at 2:32 a.m. UTC
Updated May 13, 2022 at 7:17 p.m. UTC

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

Terra validators pulled the plug (at least temporarily) on their embattled network late Thursday New York time, Terra’s official Twitter account tweeted, as they searched for answers to a crisis that’s demolished UST and LUNA prices, on-chain stability and billions of dollars in wealth.

“The Terra blockchain has officially halted at block 7607789. Terra Validators have halted the network to come up with a plan to reconstitute it,” the tweet said.

The project’s Discord community was despondent in response.

“Whatever they do, they need to bring in the A team, people from the big leagues that know what the f*ck to do in a crisis,” said Kenboi_Ninja in the #general chat (where users have been restricted to one post per hour). “We need Sean Connery from The Rock level nerves and determination rn. Anything is possible in the space with the right people, good ideas and capital. Make it happen Terra. See ya in an hour.”

LUNA was priced at around $0.008 at the time the network was halted. UST was at $0.19.

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Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

Danny is CoinDesk's deputy business editor. He owns BTC, ETH and SOL.

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