CZ Binance: LUNA a Scam Project

CZ Binance: LUNA a Scam Project

Yep, it’s official, Terra (LUNA) is now into the history book of cryptocurrency. LUNA has died out a long back since yesterday. Currently, LUNA stands for a price of $0.00002712, with the graphs reaching almost 100%, at just 99.91% down for the last 24 hours into consideration. 

Besides, almost all crypto exchanges around the globe have delisted LUNA. It all started yesterday with a few exchanges temporarily banning the trade of LUNA. Later on, Binance declared that it will be delisting UNA if it reaches down to the price of $0.005.

And so, on early hours of 13th, May, LUNA reached below $0.005, eventually resulting in Binance completely delisting LUNA. This was indeed followed by many other exchanges one by one, from the Crypto.com to the L-Bank exchange, all have delisted LUNA. 

AT present, all exchanges have delisted LUNA, and no one even if willing for a joke could purchase it. In spite of all this, the CEO of Binance, Chang Peng Zhao (CZ) Binance took to Twitter denoting his views elaborately. 

CZ’s Tweets on LUNA

Accordingly, on 13th May 2022, CZ took onto Twitter, pointing out the decisions made by Binance. Firstly, CZ announced that Binance will be completely delisting and stopping the trade of both LUNA and UST. 

Moreover, CZ terms that he has tried contacting the team from LUNA. However, he has got no replies from LUNA’s end. Indeed being very disappointing, CZ points out that though he usually doesn’t comment about other projects, the LUNA surely has made him do so. 

Furthermore, CZ has requested the LUNA team to restore the network, in order to retrieve the pegged UST of its users and also to burn the newly minted LUNA completely to prevent further buying misleading for the users. 

With no response at all, CZ contradicts such scam projects should be watched closely and, may more are yet to be revealed, indirectly. 

A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.