LUNA Classic Community Criticizes eToro for Delisting

The Terra Luna Classic (LUNC) community is expressing strong discontent over eToro’s recent decision to delist its tokens.

This move follows TerraForm Labs’ bankruptcy proceedings and the company’s timeline for loss claims linked to the May 2022 crisis. eToro has removed both Terra (LUNA) and LUNC from its platform.

eToro’s decision to halt LUNC trading was anticipated, with previous updates indicating that LUNA tokens would face a close-only status starting July 17, 2024, at 9 AM GMT. The delisting is linked to the Terra vs. SEC lawsuit settlement of $4.5 billion.

Despite this settlement offering a potential reimbursement path for LUNA investors, concerns arise as TerraForm Labs’ public wallets hold less than $100 million in liquid assets. The decision to also delist LUNC, which was forked from the original Terra to create Terra 2.0 (now known as Terra LUNA), is seen as unjust by the LUNC community.

Since mid-2022, the LUNC community has been vocal about eToro’s actions. LUNC validators and developers are now calling on Chris Amani, CEO of TerraForm Labs, to clarify the situation.

Some members, including validator Vegas Morph, have reached out directly to Amani, questioning the legitimacy of eToro’s claim that Terra owns LUNC and demanding a resolution. The controversy has sparked widespread discussion across Terra Luna Classic’s social media platforms.

Alexander Stefanov